Overview Single market mutual recognition (such as passporting) will cease to apply as between the UK and the EU/EEA at the end of the current transitional period. In this article, we look at the opening salvos in the negotiation of the new EU/UK relationship and consider how this will impact ...
On 4 February, ESMA published its final report (the “ESMA’s Report”) with new draft regulatory technical standards on the postponement of the date of entry into force of Commission Delegated Regulation on settlement discipline (the “Settlement Discipline RTS”). The Settlement Discipline RTS sets out the measures that central securities depositories ...
This is the second in a series of articles looking at the regulatory framework for financial services after Brexit. The new framework will have four main sources which we will look at in turn. These are: The UK/EU Free Trade Agreement; The regulatory regime in the host state – partly ...
Introduction This is the first in a series of articles looking at the regulatory framework for UK/EU financial services after the UK exits from the EU’s single market. Following the UK’s departure from the EU last week, the relationship between the UK and the EU is now governed by the ...
New legislation that will come into force immediately before Brexit this Friday will ensure that the UK’s temporary permissions regimes (“TPRs”) for firms and funds will apply from 31 December 2020, once the Transition Period has ended. This move should ensure that any EEA firms or funds which have not ...
LIBOR transition has been firmly highlighted as a key topic for 2020 with the Bank of England (the Bank), the Financial Conduct Authority (FCA) and the Working Group on Sterling Risk-Free Reference Rates (RFRWG) publishing a series of documents outlining priorities and milestones for the coming year, to ensure firms are preparing for the cessation of LIBOR from the end of 2021.
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 ...
In an article originally published in the Compliance and Risk Journal, Sam Robinson, Susann Altkemper and Yasmin Johal explain ten important issues relating to the Central Securities Depositories Regulation. ("CSDR").
1. FCA: Response to key comments from the independent panels' annual reports for 2018-19
FCA has published its response to key comments from the annual reports of FSCP, FCA PP, FCA SBPP and FCA MPP. Specific areas covered include: Brexit; FCA’s priorities; operational and cyber resilience; crypto assets; Mortgage Markets Study; duty of care; fair pricing; consumer credit; Retirement Outcomes...