ESMA tells firms to provide clients with information on the implications of Brexit
ESMA issued a statement on 19 December 2018 to remind firms providing investment services of their obligations to provide clients with information on the implications of the United Kingdom’s withdrawal […]
ESMA is ready to review UK CCPs and CSDs recognition applications for a No-Deal Brexit scenario
ESMA published a Public Statement on 19 December 2018 to clarify its plans for the recognition of Central Counterparties established in the United Kingdom (“UK CCPs”) as Third Country CCPs […]
ESMA to renew restrictions on CFDs for a further three months from 1 February 2019
The European Securities and Markets Authority (“ESMA”) has agreed to renew the restriction on the marketing, distribution or sale of Contracts for Difference (“CFDs”) to retail clients, in effect since […]
FCA proposes permanent measures for retail CFDs and Binary Options
The FCA published two consultation papers in December 2018 concerning Contracts for Difference (“CFDs”) and Binary Options. With regard to Binary Options, the FCA is proposing permanent rules to prohibit […]
Securitisation Regulation: PRA and FCA joint statement on reporting of private securitisations
The Prudential Regulation Authority and Financial Conduct Authority have issued a joint statement setting out how they propose to direct the manner in which firms must make information regarding ‘private’ […]
FCA Policy Statement (PS18/21) — Updated December 2018: Small and Medium Sized Enterprises access to Financial Ombudsman Service
In January 2018, the FCA published a Consultation Paper (CP18/3) proposing that Small and Medium Sized Enterprises (SMEs) with fewer than 50 employees, annual turnover of under £6.5m and an […]
The Financial Services Contracts Regime
The UK Government has published draft legislation for the Financial Services Contracts Regime (“FSCR”). If the UK leaves the EU without a withdrawal agreement, the FSCR will enable firms who […]