Financial Conduct Authority Statement on Assessing Suitability Review 2

The Financial Conduct Authority published a statement on its second review of the market for pensions and market advice. The review will focus on consumer advice on retirement income. Due to an increasing number of alternatives available in retirement planning, the FCA deems it vital that consumers receive good advice when they gain access to […]

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European Systemic Risk Board letter on issues raised with Alternative Investment Fund Managers Directive

The European Systemic Risk Board published a letter to the Director General for Financial Stability, Financial Services and Capital Markets Union to the EU Commission. The letter consisted of the shortcomings of the current framework of the Alternative Investment Fund Managers Directive. One noticeable feature was the statistic that the ESRB estimates that half of […]

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ESMA Consultation on Systematic Internalisers in Non-Equity Instruments Under MiFIR

The European Securities and Markets Authority published a Consultation Paper outlining proposed changes to the Markets in Financial Instruments Regulation regime for Equity Exchange-Traded Funds and related instruments. The proposed changes are based on the analysis of the impact of the current regime, which came into effect in January 2018. Under MiFIR, Competent Authorities and […]

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ESMA launches a Common Supervisory Action, with National Competent Authorities on Undertakings for the Collective Investment in Transferable Securities Liquidity Risk Management

The European Securities and Markets Authority issued a press release, launching a Common Supervisory Action with National Competent Authorities on the supervision of Undertakings for the Collective Investment in Transferable Securities Managers’ liquidity risk management across the European Union. NCAs have agreed to simultaneously assess whether market participants in their jurisdictions adhere to the rules […]

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FCA confirms TPR Notification Window Will Reopen

The Financial Conduct Authority published a press release on the information relevant to firms during the Brexit implementation period. During the implementation period, ending on 30 December 2020, European Union law will still apply to all UK firms. Therefore, there are no changes to the reporting obligations for firms under the European Market Infrastructure Regulation. […]

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EBA Report on the Benchmarking of Diversity Practices

The European Banking Authority published a new bench-marking report on diversity practices in Credit Institutions and Investment Firms analysing the development since its 2015 diversity bench-marking exercise. Despite the Capital Requirements Directive (CRD) introducing a requirement for Institutions to take into account the diversity of the Management Body when recruiting new members and implement a […]

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EBA Publishes Final Report on Big Data and Advanced Analytics

The European Banking Authority published a Final Report on the Development, Implementation, and Adoption of ‘Big Data and Advanced Analytics in the Banking Sector. The Report identifies recent Trends, Challenges and Possible Approaches in the Regulator’s efforts to maintain Technological Neutrality giving Firms the freedom to choose their own Tools and Technologies when pursuing ‘BD&AA’; […]

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FCA Publishes Report on Asset Management Portfolio Tools

The Financial Conduct Authority published a Report on the use of Risk Modelling and other Portfolio Management Tools in the Asset Management Sector, based on interviews from Senior Managers at 10 Asset Management Firms of varying sizes and Operating Models. The FCA found varied approaches to the use of Portfolio Management Tools: A Single-Provider approach, […]

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EBA launches a Consultation on Draft Regulatory Technical Standards on the treatment of Non-Trading Book Positions subject to Foreign Exchange, or Commodity Risk

The European Banking Authority published a Consultation Paper on draft Regulatory Technical Standards. The Paper describes how Institutions should calculate Capital Requirements for Market Risks on the Non-Trading Book positions that are subject to Foreign Exchange Risk or Commodity Risk, under the Fundamental Review of the Trading Book. According to the draft ‘RTS’, Institutions should […]

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European Central Bank Recommendation on Dividend Distribution Policies

The European Central Bank published a recommendation on Dividend Distribution Policies, which relates to Credit Institutions paying Dividends in 2020 for the 2019 Financial Year.   Credit Institutions should establish Dividend Policies, using conservative and prudent assumptions, after any Distribution, to satisfy the Applicable Capital Requirements and the outcomes of the Supervisory Review and Evaluation […]

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ESMA Consults on the Use of No Data Option in Securitisation Reporting

The European Securities and Markets Authority published a Consultation Paper on draft Guidelines on Securitisation Repository Data Completeness and Consistency Thresholds under the Securitisation Regulation. In November 2019, the European Commission published Regulatory Technical Standards, supplementing the Securitisation Regulation by specifying certain Securitisation Repository Operational Standards for Data Collection and Verification. These ‘RTS’ set out […]

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ESMA announces Key Priorities for 2020-22

The European Securities and Markets Authority published its Strategic Orientation for 2020-2022, detailing ESMA’s exercise of new Powers and Plan on meeting their new responsibilities, devised as a result of recent Legislative Developments. Following successful development of the European Union Single Rule book, ESMA has prioritised the consistent implementation of the Rule book across the […]

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