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Showing 1 - 10 of 90 matches filtered by 'MiFID II'

  • ESMA Guidelines on suitability updated to take into account sustainability factors, risks and preferences of the clients

    14/10/2022
    On 23 September 2022, ESMA released an updated version of its Guidelines on certain aspects of the suitability requirements as provided for under Directive 2014/65 on Markets in Financial Instruments (“MiFID II”) (the “Guidelines”). These Guidelines aim to ensure a common, uniform and consistent implementation of the MiFID II requirements ...
  • The Wholesale Markets Review – no “big bang”

    18/03/2022
    On 1 March 2022, HM Treasury published its response to its consultation on the Wholesale Markets Review (WMR), which closed on 24 September 2021. A relatively large number of organisations from across the industry participated in the consultation and the response engages in some detail with the feedback received. The ...
  • The Wholesale Markets Review – fine-tuning the MiFID II regime?

    23/07/2021
    On 1 July 2021, HM Treasury published a consultation paper launching its Wholesale Markets Review, which is pitched as an opportunity to make the UK’s financial services rulebook “nimble and fit for purpose” following the UK’s departure from the EU. The consultation paper addresses a number of areas under the ...
  • The new prudential regime for investment firms: key points from the first FCA Consultation Paper

    02/02/2021
    In December 2020, the Financial Conduct Authority (FCA) published the first of three planned Consultation Papers (CP20/24) (link) on the new UK Investment Firm Prudential Regime (“IFPR”), which is now due to be implemented on 1 January 2022 (link). This first consultation closes on 5 February 2021, with a Policy ...
  • ESMA observes questionable reverse solicitation practices after Brexit

    20/01/2021
    The EU-UK Trade and Cooperation Agreement and the end of the Brexit transitional period on 31 December 2020 has resulted in significant changes to EU-UK trade in financial services. In particular, UK firms can no longer rely on their UK licences to provide services to customers across the EU. UK ...
  • ESMA and FCA clarify supervisory approach on SFTR backloading requirements due to COVID-19 pandemic

    30/03/2020
    The European Securities Markets Authority (“ESMA”) has clarified its position on the requirements for ‘backloading’ under the Securities Financing Transactions Regulation (“SFTR”) revising its initial statement on coordinated supervisory actions. In its revised statement, ESMA extends its recommendations for regulatory forbearance to include any securities financing transactions (“SFTs”) that are ...
  • ESMA and FCA issue statements concerning regulatory forbearance for reporting obligations under SFTR and MiFIR in light of COVID-19 outbreak

    25/03/2020
    On 18 March 2020, the European Securities and Markets Authority (“ESMA”) published a statement about regulatory forbearance for the first phase of reporting obligations under the Securities Financing Transactions Regulation [1] (“SFTR”). These obligations are due to become effective on 13 April 2020 for credit institutions and investment firms when ...
  • European Commission consults on regulatory framework for cryptoassets

    23/12/2019
    On 19 December 2019, the European Commission (the Commission) published a consultation document seeking views on the EU regulatory framework for cryptoassets. Other topical areas discussed include the promotion of digital finance and blockchain, and the development of a relatively new subset of cryptoassets: stablecoins. Given that there is no ...
  • Online Platforms: "Walking" the line between legal and financial services compliance (Part 2 of 5)

    08/08/2019
    Regulatory permissions Under the Financial Services and Markets Act 2000 (“FSMA”) a person cannot carry on any “regulated activities” unless they are authorised by the FCA, or unless it falls within an exemption or exclusion.  Any contravention of this prohibition is a criminal offence.
  • CMS Introduction to funds training

    08/10/2018
    Investment Funds is a highly specialist area, with a complex web of regulation and taxation, as well its own jargon, that can bewilder to those new to the industry. The CMS Funds Group’s ‘Introduction to Funds’ training programme is an ideal way of demystifying Investment Funds either for new joiners ...