Tag Archives: Commission

Commission publishes funds distribution responses

The Commission’s consultation on cross border distribution of investment funds closed on 9 October, and the Commission has now published the 62 responses it received.

Commission asks ESAs for retail product evaluation

The Commission has published its formal request to the ESAs to report to it on the cost and past performance of the main categories of retail investment, insurance and pension products. It notes the reporting should be based on what is required under key EU legislation, and appreciates the amount of work is such that […]

Commission starts reporting fitness check

The European Commission has invited feedback on whether supervisory reporting requirements in financial services legislation are fit for purpose. It has published a roadmap on which it asks for views by 14 November.  The roadmap looks at the work the Commission has done to date and comments it has received, but it says does not prejudge […]

EU plans CMU reforms

The Commission has proposed a package of reforms to further develop the CMU. The package comprises: EU-wide supervisory priorities set by the ESAs, which will also take a greater role in supervising the work of national regulators – in particular in checking how they allow market participants to outsource functions to third countries direct capital […]

Commission clarifies Systematic Internaliser rules

The Commission is urgently making an amendment to clarify the scope of the MiFID 2 systematic internaliser category.  It has noted certain technological developments which risk undermining what should be a clear separation between bilateral own account trading when executing client orders and multilateral trading. The Commission stresses that a systematic internaliser is not allowed to engage, […]

Commission publishes PRIIPs KID guidelines

The Commission has published draft guidelines on the PRIIPs KID. The guidelines aim to promote consistency by smoothing out areas of potential divergences in interpretation. Questions the guidelines address (although not in much detail), are on the derogation for the need for a single KIDfor a multi-option product, the scope of the Regulation and territorial […]

Commission seeks views on cross-border payments

The European Commission is seeking views on the impact of extending the cross-border payments Regulation to cover all non-euro currencies in the EU. The period for comments is 4 weeks

FCA consults on consumer credit staff incentives

FCA is consulting on how consumer credit firms should manage the risks inherent in staff remuneration and performance management.  It has previously issued guidance covering firms in different sectors within SYSC 19, but there is no current equivalent for consumer credit firms. FCA has carried out a thematic review of 98 firms and found evidence of […]

Commission reports on ML risks

The Commission has published its report to the EP and Council on its assessment of the AML and TF risks affecting the internal market and relating to cross-border activities. It published the report, and supporting working papers, as it heralded implementation of MLD4.