UK Financial Regulatory Developments - June 2016 #16

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BoE publishes planned Mansion House speech

Mark Carney had been due to give a speech on the FinTech transformation at Mansion House. It was replaced with a tribute to Jo Cox MP. Mr Carney had planned to speak on the speed of technical innovation, the potential impact of FinTech on financial and monetary stability and how to enable the FinTech transformation. (Source: BoE publishes planned Mansion House speech)

 

ACER updates REMIT guidance

ACER has updated its guidance on the application of REMIT. The key change is to provide further guidance on the obligations of persons professionally arranging transactions under Article 15 of REMIT (Source: ACER updates REMIT guidance)

 

BRRD ITS published in OJEU

An implementing Regulation on ITS for uniform formats, templates and definitions for identification and transmission of information by competent authorities and resolution authorities to EBA under the Bank Recovery and Resolution Directive (BRRD) has been published in the OJEU. (Source: BRRD ITS published in OJEU)

 

EU MAR standards published in OJEU

Several technical standards under EU MAR have been published in the OJEU:

  • a delegated Regulation on regulatory technical standards (RTS) on arrangements, systems and procedures, and on notification templates to be used for preventing, detecting and reporting abusive practices or suspicious orders or transactions;
  • a delegated Regulation on RTS for technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest;
  • an implementing Regulation on ITS for market soundings with regard to the systems and notification templates to be used by disclosing market participants and the format of records; and
  • a delegated Regulation on RTS for appropriate arrangements, systems and procedures for disclosing market participants conducting market soundings.

All the measures take effect on 3 July. (Source: RTS on EU MAR abuse and suspicion notification templates, RTS on investment recommendations and conflicts disclosure, ITS on market soundings templates and RTS on market soundings arrangements)

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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