In this issue: this month's roundup of developments affecting banks, wealth managers, brokers and funds sees the European Commission adopting multiple delegated regulations relating to the implementation of MiFID II relevant to the tick size regime and more...


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General Developments

  • Annuity-related complaints handled by FOS fall
  • AMICE expresses concerns over Commission Delegated Regulation supplementing PRIIPs Regulation
  • ECB crisis communication exercise for euro area financial market infrastructures report
  • FCA Handbook Notice No 35 and response to CP16/8
  • FX remediation programme: new webpage from FCA
  • FMSB publishes comment on draft binary options standard
  • Dark pools and broker crossing networks report from FCA
  • PRA issues "Dear CEO" letter on firm engagement and insurance firms in run-off
  • Council of EU decision on position on incorporation of financial services legislation into EEA Agreement
  • FSB: second interim progress report on reforming major interest rate benchmarks
  • ESMA Q&As on prospectuses published
  • APFA annual survey of the advice industry
  • Terms of reference for retirement outcomes review published by FCA
  • Revised financial services offer in context of TTIP negotiations released by EC
  • ROC policy document on including data on international/foreign branches in the LEI System
  • ESMA publishes responses to its consultation on technical advice on benchmarks regulation
  • Call for further technical advice on prudential requirements
  • Updated final standard on revisions to Basel III securitisation framework
  • EIOPA advice on development of EU single market for PPP

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EMIR & Derivatives

  • EC to endorse amendments to RTS on risk mitigation for uncleared OTC derivative contracts
  • EMIR implementation Q&As updated by ESMA
  • EC letter on concerns regarding delay in adoption of RTS on risk mitigation techniques
  • Corrigendum to Delegated Regulation on EMIR regarding RTS on clearing obligations
  • Delegated Regulation on RTS on clearing obligation under EMIR published
  • ISDA protocol to meet Article 55 BRRD requirements
  • EMIR consultation paper on delaying EMIR clearing obligation for financial counterparties with a limited activity volume
  • EU Implementing Decision on equivalence of US DCMs under EMIR

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Disputes & Enforcement

  • Updated assumptions for FOS pension review cases

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Funds

  • EC Implementing Regulation laying down ITS on penalties and measures under UCITS Directive
  • EBA consults on interim report on MREL
  • ESMA updates Q&A on application of UCITS Directive
  • ESMA updates Q&A on application of AIFMD
  • ESMA advice on extension of application of AIFMD passport to 12 non-EU jurisdictions
  • Call for evidence on asset segregation and custody services under AIFMD and UCITS V
  • Fund Suspension Guidance from FCA
  • Call for input on upcoming post-implementation review of crowdfunding rules

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Investments & Investment Services

  • Q&As on CFDs and other speculative products updated by ESMA
  • EBA press release announces launch of data collection
  • European Parliament updates procedure file on EC Delegated Directive supplementing MiFID II
  • Delegated Regulation supplementing MiFIR with regard to RTS on data standards and formats
  • Delegated Regulation on transparency requirements in respect of equity instruments under MiFIR
  • Delegated Regulation on RTS specifying organisational requirements for trading venues
  • Delegated Regulation on RTS transparency requirements in third-country firms registration
  • EC publishes legislative proposal for amendments to EuVECA and EuSEF Regulations
  • Delegated Regulation on RTS on information and requirements for investment firms under MiFID II
  • Delegated Regulation on RTS on tick size regime under MiFID II
  • Delegated Regulation on RTS for the exchange of information between competent authorities
  • Delegated Regulation on RTS on transparency requirement in respect of non-equity instruments
  • Corrigendum on MiFID II Directive
  • SI 2016/715 amending FSMA published

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Market Conduct

  • ESMA final report - Draft ITS on sanctions and measures under MAR
  • FCA updates statement on closed periods
  • Speech by Commissioner Jonathan Hill at the European Parliament on the Capital Markets Union
  • Principles of remuneration amended in line with MAR

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Key contacts

David Ellis

David Ellis

Partner, Financial Regulation
London

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Brian McDonnell

Brian McDonnell

Partner, Financial Regulation
London

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Chris Brennan

Chris Brennan

Partner, Financial Regulation
London

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