Global Financial Regulatory Blog

Tag Archives: MiFID II

Podcast – Brexit & Financial Services: Preparing for the End of the Transition Period

FCA’s Stephen Hanks discusses onshoring and how to ensure regulatory compliance before the year’s end. With the end of the Brexit transition period looming, many financial services firms are asking what they need to do between now and the end of the year to ensure regulatory compliance. In this episode of Connected With Latham, Anne … Continue Reading

HM Treasury Policy Statement Addresses Pressing Concerns With PRIIPs Regulation

The UK government has proposed amendments to the UK PRIIPs regime with performance information in the KID to differ from the EU “performance scenario” requirement. By Nicola Higgs and Anna Lewis-Martinez On 30 July 2020, HM Treasury published a policy statement on amendments to the Packaged Retail Investment and Insurance-based Products (PRIIPs) Regulation. The policy … Continue Reading

European Commission Proposes Changes to MiFID II Due to COVID-19

Many of the wide ranging amendments address the perceived barriers MiFID II introduced in capital markets and are likely to be welcomed by industry. By Nicola Higgs, Anne Mainwaring, Gabriel Lakeman and Anna Lewis-Martinez The European Commission (the Commission) has adopted a legislative proposal for a directive amending Directive 2014/65/EU on markets in financial instruments … Continue Reading

European Commission Report Assesses AIFMD Application and Scope

The European Commission has published its long awaited report that assesses the application and scope of AIFMD. By Carl Fernandes and Kishore Bhindi On 10 June 2020, the European Commission published a report assessing the application and scope of the Alternative Investment Fund Managers Directive (AIFMD). The report was prepared pursuant to Article 69 of … Continue Reading

MiFID’s Transparency Rules: ESMA Confirms Equivalence of Numerous Non-EU Venues

Implications for users of third-country trading venues as ESMA confirms the list of venues who meet the criteria in its updated opinions on transparency and position limits. By Rob Moulton and Anna Lewis-Martinez On 3 June 2020, ESMA published updated versions of its opinions on post-trade transparency and position limits for third-country trading venues (TCTVs) … Continue Reading

Derivatives Market Reform – Progress Report

10 Key Regulatory Focus Areas for UK/European Wholesale Markets in 2019 By David Berman, Carl Fernandes  Nicola Higgs, Rob Moulton, Charlotte Collins, and Christopher Sullivan. In the fifth post of this 10-blog series, we identify key milestones in the derivatives market for the year ahead. This is taken from our wider publication: 10 Key Regulatory Focus Areas for UK/European Wholesale Markets in … Continue Reading

MiFID II – Progress Report

10 Key Regulatory Focus Areas for UK/European Wholesale Markets in 2019 By David Berman, Carl Fernandes  Nicola Higgs, Rob Moulton, and Charlotte Collins In the second post of this 10-blog series, we examine recent and upcoming developments relating to MiFID II. This is taken from our wider publication: 10 Key Regulatory Focus Areas for UK/European Wholesale Markets in 2019 – Progress Report. … Continue Reading

Brexit Progress Report: 1 of 10 Key Regulatory Focus Areas for UK/European Wholesale Markets in 2019

By David Berman, Carl Fernandes  Nicola Higgs, Rob Moulton and Charlotte Collins In our January publication, we highlighted what we were seeing as the top regulatory focus areas for our clients during the year ahead, focusing on wholesale market structures and conduct risk. In a series of 10 blog posts, we will take a closer look at … Continue Reading

What EBA’s Outsourcing Guidelines Mean for Financial Institutions

The guidelines create new obligations for financial, payment, and electronic money institutions that will impact cloud outsourcing and deployment of FinTech. By Fiona M. Maclean and Laura Holden On 25 February 2019, the European Banking Authority (EBA) published a final report on its draft guidelines on outsourcing arrangements (Guidelines). The report followed the EBA’s publication … Continue Reading

MiFID II Research Unbundling 6 Months on – what are we seeing in the market?

The FCA has recently announced that it will begin a review of how firms have implemented the unbundling rules “within weeks”. By Beatrice Lo and Jonathan Ritson-Candler At its recent asset management conference, the FCA announced that it will imminently launch a review of how asset managers have implemented the new MiFID II obligation to … Continue Reading

FCA Statement on Cryptocurrency Derivatives

FCA warns providers of cryptocurrency derivatives of their regulatory obligations. By Andrew Moyle, Stuart Davis and Charlotte Collins The UK Financial Conduct Authority (FCA) has issued a statement reminding businesses offering cryptocurrency derivatives of the requirement to be authorised. The FCA explains that, although cryptocurrencies are not themselves regulated in the UK, derivatives that reference … Continue Reading

First Use of ESMA Temporary Product Intervention Measures

ESMA to introduce measures to restrict the provision of CFDs, and prohibit the provision of binary options, to retail investors in the EU. By Nicola Higgs and Charlotte Collins The European Securities and Markets Authority (ESMA) has announced the first use of its new product intervention powers under MiFID II. ESMA had announced before MiFID … Continue Reading
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