MiFIR / MiFID II: The European Parliament published a press release announcing it has reached provisional political agreement with the Council of the EU on the proposed amendments to the Markets in Financial Instruments...more
Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. Key developments in April 2023: 28 April FCA Handbook: The Financial Conduct...more
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. Key developments in October 2022:...more
DvP clients: FCA and PRA Dear CRO letter on counterparty credit exposure management and controls - The UK Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) have published a letter to chief risk...more
LIBOR transition: FCA and BoE encourage switch to SONIA in sterling non-linear derivatives market - The Financial Conduct Authority (FCA) and the Bank of England (BoE) have published a joint statement announcing that they...more
UK Emissions Trading Scheme: Revised draft Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 - A revised draft version of the Recognised Auction Platforms (Amendment and Miscellaneous...more
LIBOR cessation: FCA speech - The FCA has published a speech given by Edwin Schooling Latter, FCA Director of Markets and Wholesale Policy, on being ready for life without LIBOR from the end of 2021. ...more
Post-Brexit transition period: migrating to FCA FIRDS and FITRS - The UK Financial Conduct Authority (FCA) has published a press release announcing details of the cutover plan for firms migrating to the FCA Financial...more
ISDA 2020 IBOR Fallbacks Protocol - The International Swaps and Derivatives Association, Inc. (ISDA) has published the ISDA 2020 IBOR Fallbacks Protocol. Our separate client alert, ISDA 2020 IBOR Fallbacks Protocol: What...more
Accessing and using wholesale data: FCA extends call for input deadline The UK Financial Conduct Authority (FCA) has extended the deadline for responses to its call for input on the use and value of data and advanced...more
BREXIT - Please see the Prudential Regulation section for updates on: (i) the record of the FPC meeting held on 12 March; and (ii) HMT’s recently published letter on the EC’s proposed package of reforms in relation to BRRD...more
BREXIT - EC publishes notices on consequences of Brexit on banking and finance sectors - On 8 February, the EC published a new webpage containing a number of notices setting out the consequences of Brexit on banking and...more
BREXIT - Brexit - EU (Withdrawal) Bill published - On 13 July, the DExEU published the European Union (Withdrawal) Bill (Bill), which: (i) repeals the ECA 1972; (ii) converts EU law into UK law where appropriate; and...more
EMIR – ESMA Recommendations to EMIR Framework, Final Rules on Central Clearing for Interest Rate Derivatives and Consultation on CCP Client Accounts - EMIR framework: On 13 August, ESMA published a number of recommended...more