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Showing 91 - 100 of 1043 matches filtered by 'Banking and finance'

  • Crowdfunding: Not only equity but also debt instruments. Proposals for amendment to the Consob Regulation under consultation until 20 July 2019

    The 2019 budget law introduced certain amendments to the specific Italian law on crowdfunding (Crowdfunding Regulation no. 18592/2013), in order to extend the provisions on crowdfunding, bonds and debt instruments issued by small-medium enterprises (“SME”).
  • Brexit news for financial services firms from - 21 June 2019 to 5 July 2019

    SWISS- EU RELATIONS: SWITZERLAND LOSES STOCKMARKET EQUIVALENCE The EU failed to renew its trading venue equivalence decision for Switzerland under MiFID/MiFIR. The previous short term decision expired at the end of June. The Swiss Federal Department of Finance (FDF) responded with measures announced in their press release here.  The Financial Times reported on market reaction in its article of 30...
  • Brexit news for financial services firms - from 10 June 2019 to 21 June 2019

    PRA:PS5/19 THE BANK OF ENGLAND'S AMENDMENTS TO FINANCIAL SERVICES LEGISLATION UNDER THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 An updated version of this PS has been published. The updated version can be found here.
  • Crowdfunding: The Council for the EU publishes the next step towards an EU Crowdfunding Regulation

    On 26 June 2019, the Council for the European Union published a compromise proposal in relation to the European Commission’s draft framework to regulate crowdfunding platforms in the EU (the "Crowdfunding Regulation"). The proposed regulation is part of the Council’s efforts to improve access by investors and businesses to new financing sources.  The compromise proposal published follows the European...
  • PRA Dear CEO Letter to Fast Growing Firms

    On 12 June 2019 the PRA published a new ‘Dear CEO’ letter summarising the regulator’s findings from a review of 20 non-systemic deposit taking firms that it has undertaken over the past year. The firms reviewed are mostly growing faster than the market as a whole, so the PRA refers ...
  • The overdraft market - a new era

    Described as the “biggest overhaul to the overdraft market for a generation”, the FCA has announced the introduction of reforms to address what it sees as a dysfunctional overdraft market. This follows on from their consultation paper which, alongside the repeat use remedies (mentioned below), will come into force on 18 December 2019.
  • Brexit news for financial services firms - from 25 May 2019 to 7 June 2019

    1. FCA/AFM: JOINT AGREEMENT FCA and the Dutch Authority for the Financial Markets (AFM) met on 3 June 2019 and have signed a joint agreement of cooperation (the text of which has not been published). FCA notes that, in addition to building cooperation and information sharing post-Brexit, the agreement also ...
  • Crowdfunding: FCA confirms new rules for P2P platforms

    On 4th June 2019 the Financial Conduct Authority (the “FCA”) published final rules for peer-to-peer (or P2P) lending platforms. The new rules are the result of the FCA’s consultation that launched in July 2018, with the FCA stating that the new rules are designed to help better protect investors and ...
  • FCA and PRA fines highlight firms' accountability for failures of their outsourcing providers

    The importance the financial regulators place on effective oversight and management of outsourcing arrangements has been highlighted by both the PRA and the FCA in the fines they have imposed totalling £1,887,252 on R.Raphael & Sons plc (the “Bank”) for failing to manage its outsourcing arrangements properly. Effective management of ...
  • Brexit news for financial services firms – from 10 May 2019 to 24 May 2019

    1. PRA: Speech by Sam Woods: Stylish regulation Text of this speech, given on 16 May 2019 follows, in which Sam Woods considers the UK system of regulation post-Brexit, including comparing the UK and EU approaches to regulation. He sets out six principles for an effective regulation framework and suggests ...