Temporary Equivalence Decision for UK CCPs to be renewed

The post below was first published on our FSR and Corporate Crime blog European Commission Vice President Valdis Dombrovskis announced in a speech at the Guildhall in London last week that, ‘as the risk to financial stability has not yet been fully removed, because industry has not so far fully prepared’, he intends to renew … Read more

Brexit Asset Management Update

The post below summarises the latest Brexit developments related to asset management. EU Exit: PRA statement on ACPR response to EIOPA recommendations for insurance sector The PRA has issued a statement regarding French regulator Autorité de contrôle prudentiel et de résolution’s (ACPR) response to the European Insurance and Occupational Pensions Authority’s (EIOPA) recommendations for the insurance sector in light of the … Read more

Brexit Asset Management Update

The post below summarises the latest Brexit developments related to asset management. EU Exit: FCA directions extending TPR notification period The FCA has published updated directions for firms intending to enter the temporary permissions regime (TPR), extending the time period during which notifications can be made until the end of 30 January 2020. These directions are directly … Read more

Brexit Asset Management Update

The post below summarises the latest Brexit developments related to asset management. Statutory Instrument on cross-border distribution The Cross-Border Distribution of Funds, Proxy Advisors, Prospectus and Gibraltar (Amendment) (EU Exit) Regulations 2019 (with explanatory memorandum) which remedies certain deficiencies in retained EU law and UK domestic legislation arising as a result of the UK’s withdrawal from the … Read more

Brexit Asset Management Update

The post below summarises the latest Brexit developments related to asset management. ISDA publishes no-deal Brexit FAQs The International Swaps and Derivatives Association (ISDA) has published a set of no-deal Brexit FAQs which provide a high-level summary of the key impacts of a no-deal Brexit on the OTC derivatives market and ISDA documentation. FCA updates Brexit guidance on data … Read more

Brexit Asset Management Update

The post below summarises the latest Brexit developments related to asset management. FCA Market Watch 61 and updated supervisory statement on MiFID transparency regime The FCA has published the October issue of Market Watch which focuses on no-deal Brexit planning, in particular, MiFID transaction reporting and the operation of the MiFID transparency regime. The FCA reminds firms … Read more

Brexit Asset Management Update

In this blog post we summarise the latest Brexit developments related to asset management. EU Exit: FCA extends duration of TTP directions The FCA has updated the draft transitional direction and draft prudential transitional direction (with explanatory note) under its Temporary Transitional Powers (TTP). Key updates include: extending the proposed duration of the directions from … Read more

Brexit Asset Management Update

In this post we summarise the latest Brexit developments related to asset management. EU Exit: update on proposed Regulation on the recovery and resolution of CCPs The Department for Exiting the EU (DExEU) has published letters from John Glen MP, Economic Secretary to the Treasury, to Lord Kinnoull, Chair of the House of Lords European … Read more

Brexit Asset Management Update

In this post we summarise the latest Brexit developments related to asset management. EU Exit: FCA speech on Brexit preparations in financial services The FCA has published a speech delivered by its Chief Executive, Andrew Bailey, on Brexit preparations in financial services. In his speech, Mr Bailey recognises an increased level of readiness for a potential ‘no … Read more