Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....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
The Financial Services Bill was introduced in Parliament on 21 October 2020. According to the UK Government, the Bill is designed to “ensure the UK’s world-leading financial services sector continues to thrive and grasp new...more
29 September - The Financial Conduct Authority (“FCA”) published its perimeter report 2019/20, which provides an update on the issues raised in its 2018/19 report. A European Commission notice (2020/C 321/01) relating...more
Brexit: ESMA to recognise three UK CCPS from 1 January 2021 - The European Securities and Markets Authority (ESMA) has announced that three central counterparties (CCPs) established in the UK will be recognized as...more
30 July - The Financial Conduct Authority (“FCA”) updated its webpage on the High Court business interruption insurance test case. The Prudential Regulation Authority (“PRA”) published a consultation paper (CP11/20)...more
Title transfer collateral arrangements: FCA Dear CEO letter - The UK Financial Conduct Authority (FCA) has published a Dear CEO letter to firms acting as brokers in wholesale financial markets, who currently, or may in the...more
Recent regulatory developments of interest to financial institutions and markets. Includes updates relating to MAR, MiFIR, EMIR, short selling, and more....more
3 February - The European Banking Authority (“EBA”) published a report on the benchmarking of diversity practices in credit institutions and investment firms under the CRD IV Directive (2013/36/EC)....more
BROKER-DEALER - FINRA Reminds Members of Obligations Related to OTC Securities Quoted by a Filed Form 211 - On September 24, the Financial Industry Regulatory Authority (FINRA) issued a Regulatory Notice (Notice)...more