FCA Report: Supervision – Algorithmic Trading

The FCA has published a Report reviewing Algorithmic Trading Compliance in wholesale markets, outlining core areas of focus and good/poor practice. Firms are recommended to reference legislation in developing their Algorithmic Trading Practices and Procedures, particularly MiFID II. Chapter 7A of the Market Conduct Sourcebook (MAR) and the MiFID II Commission Delegated Regulation 2017/589 of […]

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PRA Consultation Paper impacts those Regulated Firms undertaking Algorithmic Trading

Consultation Paper 5/18: Algorithmic trading (CP5/18) has been published by the PRA and impacts those Regulated Firms undertaking Algorithmic Trading…. Consultation Paper 5/18: Algorithmic trading (CP5/18) has been published by the PRA and impacts those Regulated Firms undertaking Algorithmic Trading within scope of the Capital Requirements Regulation, already subject to the Rules in the Algorithmic […]

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FCA EMIR update – intragroup exemptions

The FCA’s EMIR webpage has been updated in respect of the European Commission’s (EC) equivalence decision under EMIR for Derivatives transactions in the United States and Intragroup Exemptions. The FCA refers to the Commission’s implementing act, which determines that the United States is considered to be equivalent to EMIR for legal, supervisory and enforcement arrangements […]

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Delegated Regulation under MiFIR relating to trading obligation for derivatives published in OJ

The EU’s Official Journal Includes, Commission Delegated Regulation (EU) 2017/2417, in respect of MiFIR and the regulatory technical standards on the trading obligation for certain derivatives. Further information: To read more, please follow this link: http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32017R2417&from=EN Contact us here Other articles Please Note: This publication is not intended to be a comprehensive review of all […]

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Implementation Technical Standards (ITS) – Market Abuse Investigations

ESMA has published final draft Implementing Technical Standards (ITS) in respect of Market Abuse Regulation. The final draft details the procedures and forms for exchange of information and assistance between Member State Competent Authorities (NCAs) and ESMA as well as with other bodies in relation to market abuse. ITS has been submitted to the European […]

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FCA on Prudential Regulatory Reforms

Prudential Regulatory Reforms – FCA ‘Dear CEO’ Letter CEOs of IFPRU investment firms and BIPRU Firms will have received a ‘Dear CEO’ letter from the FCA requesting that they review their firm’s regulatory reporting practices. This has arisen following the FCA’s observations with Regulatory returns and failures to: Satisfactory completed the required COREP submission templates […]

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FCA Global Sandbox

The FCA proposed “Global Sandbox” for Cross-Border Regulatory Problems The FCA has updated its web-site by creating page regarding a proposed global sandbox and is soliciting views on the value of creating a ‘Global Sandbox’, potentially allowing Firms to conduct tests in different jurisdictions at the same time, allowing Regulators to work together in identifying […]

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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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