IOSCO polices – investor protection

The International Organisation of Securities Commissions (IOSCO) Consultation Re: Proposed Polices for Investor Protection – Over The Counter (OTC) Leverage Products IOSCO has issued a Consultation Report proposing Policy changes for membership review in respect of the risk arising from the Offer and Sale OTC Leverage Products to Retail Clients. Products within the scope of […]

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ESMA on MiFID II / MiFIR regulatory update

ESMA – MiFID II transitional transparency calculations – Equities and Bonds A revised version of the MiFID II and MiFIR transitional transparency calculations (TTC) for equity and bond instruments has been published by ESMA, reflecting amendments to classification of the instruments and data resubmission by some trading venues. The equity instruments TTC will apply until […]

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ESMA: CFD and binary options measures

ESMA consults on potential CFD and binary options measures to protect retail investors ESMA have stated that it is reviewing the potential use of its product intervention powers under Article 40 of MiFIR to address investor protection concerns posed by the marketing, distribution and sale of Contracts for Differences (CFDs) and binary options to Retail […]

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Client Money and Unbreakable Deposits

FCA Policy Statement on Client Money and Unbreakable Deposits FCA Policy Statement 18/2: Client Money and Unbreakable Deposits – the FCA provides feedback and final rules on the proposed amendments on the Client Money 30-day rule and Unbreakable Deposits. The final FCA rules include the following provisions: Firms may hold a proportion of Client Money […]

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Regulatory Update: CFD Providers and Distributors

FCA “Dear CEO” letter to CFD Providers and Distributors Providers and Distributors of Contracts for Difference (CFDs) Products, will have received a ‘Dear CEO’ letter from the FCA. This has been prompted by recent market reviews of the CFD arena, identifying several areas of concern for Regulators and Market Participants. FCA observations included: Frailties in […]

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Updated guidance AML and CTF

Updated Joint Money Laundering Steering Group (JMLSG) Anti-Money Laundering (AML) and Counter Terrorism Finance (CTF) guidance Updated guidance in relation to AML and CTF have been published by the Joint Money Laundering Steering Group (JMLSG) including guidance for all financial services firms, industry-specific chapters and specialist sector guidance in response to its November 2017 Consultation. […]

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Regulatory Update: PRA Policy Statement

PRA Policy Statement (PS 31/17) on Rulebook changes Following Occasional Consultation Paper 18/17 (CP18/17) proposing changes to the PRA Rulebook and various Supervisory Statements, Policy Statement 31/17: Responses to Occasional Consultation Paper 18/17 has been issued, setting out feedback and final rules to chapter 7 of CP18/17. The wide ranging amendments include updates to MiFID […]

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ESMA: Cross-border investment services

ESMA provides guidance on cross-border investment services and MiFID transition Guidance for Member State National Competent Authorities and Market Participants has been issued by ESMA in respect of maintaining continuity of cross-border provision of investment services in the transition from MiFID I and MiFID II, providing for the possibility that there is late transposition of […]

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ESMA: Third-country trading venues

ESMA revised opinions on transactions on third-country trading venues ESMA has published revised opinions covering third-country trading venues for post trade transparency and position limits under MiFID II / MiFIR. The opinions state that, pending an ESMA’s review of more than 200 third-country trading venues, transactions on third-country trading venues do not need to be […]

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Regulatory Update: EU prudential framework for investment firms

European Commission (EC) adopts legislative proposals for revised EU prudential framework for investment firms Legislative proposals for Regulation and a Directive have been published by the EC proposing a revised EU prudential regime for investment firms. Changes would include two legislative acts amending existing prudential framework for investment firms set out in the Capital Requirements […]

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UK Finance Guidelines: Implementing MiFID II

New guidelines have been published by UK Finance to support firms in respect of key MiFID II requirements: MiFID II product governance: Guidelines on target market identification. Covering the identification of target markets, for use by MiFID II firms acting as manufacturers or distributors of financial instruments, as well as those providing services to clients […]

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MiFID II: Financial Ombudsman Service Instruments

The FCA Handbook has been amended to include final versions of two Financial Ombudsman Service instruments: ▪ Dispute Resolution: MiFID II Complaints (Voluntary Jurisdiction) (Financial Ombudsman Service) Instrument 2017 ▪ Advising on Investments (Article 53(1) of the Regulated Activities Order) (Consequential Amendments) (Financial Ombudsman Service) Instrument 2017.   To read more please follow these link: […]

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