Those national regulators in the EU which had put in place temporary restrictions on any short selling of securities admitted to trading on regulated markets in their jurisdictions have all confirmed that the prohibitions will not be extended. However, firms should be aware that ESMA’s temporary lower net short reporting threshold will remain in force … Read more
In this blog post, we round-up forthcoming developments in the UK and at EU and International levels in financial services regulation which are expected for May 2020. Read more
On 7 April 2020, the FCA released its Business Plan for 2020/21. The FCA had planned to focus on the areas identified in its Sector Views published on 18 February 2020 (see our blog post here), but recognises that its work will be fundamentally reshaped by the impact of COVID-19.
Aware that the current circumstances create the need for it to both respond to change and initiate it, the FCA outlined plans for transforming fundamentally the way the FCA works and regulates, with a view to becoming a more efficient and effective regulator. Read more
On 1 April 2019 the European Securities and Markets Authority (ESMA) published its final report to the European Commission (EC) setting out its technical advice on the impact of the inducements and costs and charges disclosure requirements under MiFID II (Directive 2014/65/EU). ESMA expresses some concerns over the efficacy of the current inducements disclosure regime … Read more
[This post was last updated on 11 May 2020 to reflect the latest FCA publication on SMCR for solo-regulated firms] The PRA and FCA have published two statements setting out their expectations on UK-regulated firms under the Senior Managers and Certification Regime (SMCR). A joint statement from the PRA and FCA has been published for … Read more
The Financial Conduct Authority (FCA) has issued a ‘Dear CEO’ letter (the letter) with an update on key issues in light of COVID-19 to firms providing services to retail investors. In addition to the measures it has taken with the Bank of England (BoE) and HM Treasury (HMT), the FCA has considered many requests for … Read more
[This post was last updated on 16 April 2020 to reflect the extensions to the temporary bans on short selling by EU national regulators] SHORT SELLING REGULATION During this unprecedented period of disruption, the European Securities and Markets Authority (ESMA) and other national regulators have taken various extraordinary steps to address the risks faced by … Read more
The FCA has published information for firms on COVID-19. Communication with the FCA will be key as the situation evolves, and we recommend that firms regularly monitor the FCA’s website for news and developments. Firms are expected to: take reasonable steps to ensure they are prepared to meet the challenges coronavirus could pose to customers … Read more
In this blog post, we round-up forthcoming developments in the UK and at EU and International levels in financial services regulation which are expected for March 2020. Read more
