Q: What is DORA? “DORA” stands for the Digital Operational Resilience Act, an EU regulation that creates a new framework for the EU financial sector with regard to information and communications technology (ICT)....more
Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. ...more
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
Amongst the updates this week, the Council of the EU published a table comparing the initial position of the Commission, and the negotiating positions of the Council and the EP on the proposal for a Directive amending the...more
On 1 December 2022, the Central Bank of Ireland (the “Central Bank”) published its consultation paper CP152 on own funds requirements for UCITS management companies and AIFMs authorised for discretionary portfolio management...more
Our monthly regulatory newsletter monitors all relevant developments regarding German and European regulatory law in English language. ...more
The Basel Committee on Banking Supervision (“BCBS”) published a report jointly with the World Bank setting out the findings from a global survey on proportionality in banking regulation and supervision....more
Latest FCA consultation focuses on remuneration, risk management and governance, and liquidity requirements. Key Points: The consultation: ..Sets out the FCA’s proposals for the new remuneration rules for FCA...more
Regulation (EU) 2019/2088 of 27 November, 2019 on sustainability-related disclosures in the financial services sector, as amended by Regulation (EU) of 18 June, 2020 on the establishment of a framework to facilitate...more
The Central Bank of Ireland (“CBI”) has issued a markets update1 (the “Update”) confirming flexibility for filing dates relating to certain regulatory returns due from investment firms, fund service providers and investment...more
Signed by the European Parliament and the Council of the European Union on 27 November 2019 and published in the Official Journal of the European Union on 9 December 2019, the regulation on sustainability-related disclosures...more
What is it? The EU has finalised and issued a new framework for the prudential regulation of investment firms. It will set new classification for investment firms that will in turn determine which of the new capital...more
The U.K. Financial Conduct Regulator has published a “Dear Chairman” letter addressed to Authorized Fund Managers requesting them to review certain aspects of the liquidity management arrangements for the authorized funds...more
The Luxembourg government has proposed legislation (Draft Bill), which would allow UK financial service providers to continue rendering certain services in Luxembourg for a period of up to 21 months after the date when the UK...more
Central Bank publishes the fifth edition of its investment firms Q&A - The Central Bank of Ireland published the fifth edition of its Investment Firms Questions and Answers (the “Q&A”) on October 8, 2018, containing an...more
New edition of UCITS and AIFMD Q&As published by the Central Bank - The Central Bank recently published the 28th edition of AIFMD Q&A on the 2 January 2018. A number of new questions have been answered regarding the PRIIPS...more
A compact summary of the most recent regulatory developments relevant to the UK asset management industry. This issue includes details on SEC’s no action letters and Commission’s FAQs on “hard dollar” research payments under...more
Central Bank Issues FAQ on Brexit - The Central Bank has issued an FAQ document on Brexit, which provides general information to financial services firms who are considering relocating their operations from the UK to...more
Background - The Markets in Financial Instruments Directive (“MiFID II”) and the related Regulation (“MiFIR”) is the next big rewrite of EU legislation, due to take effect at the beginning of 2017. Although its greatest...more