On March 8, the Financial Conduct Authority (FCA) published a consultation paper detailing its proposals to regulate bidding for emissions allowances on the UK auction platform under the UK Emissions Trading Scheme (ETS) (the Consultation Paper).
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UK Developments
FCA Announces Annual Transparency Calculations for Equity and Equity-Like Instruments
Posted in Financial Markets, UK Developments
On March 9, the Financial Conduct Authority (FCA) announced its first, post-Brexit annual transparency calculations for UK equity and equity-like financial instruments in response to the UK Markets in Financial Instruments Regulation (the Press Release). The calculations will be available from April 1.
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FCA Updates Webpage on Changes to Regulatory Reporting During COVID-19
Posted in Financial Markets, UK Developments
On February 5, the UK’s Financial Conduct Authority (FCA) updated its webpage on the temporary measures introduced to regulatory reporting in response to the COVID-19 pandemic (the Webpage).
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FCA Updates Webpage on Operation of UK MiFIR Transparency Regime
On February 2, the UK Financial Conduct Authority (FCA) updated its webpage on its supervisory statement on the operation of the transparency regime under the retained EU law version of the Markets in Financial Instruments Regulation (UK MiFIR) following the United Kingdom’s departure from the European Union (the Webpage).
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HMT Announces Buy-Now-Pay-Later Products to be Regulated by the FCA
Posted in Financial Markets, UK Developments
On February 2, HM Treasury (HMT) announced that interest free buy-now-pay-later (BNPL) products will be regulated by the Financial Conduct Authority (FCA).
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FCA Publishes SEC MoU on Financial Services Supervision Post-Brexit
On January 22, the UK’s Financial Conduct Authority (FCA) published an amended and restated memorandum of understanding (MoU) between itself and the US Securities and Exchange Commission (SEC) in light of the UK’s withdrawal from the EU.
The key understandings discussed by the FCA and SEC in the MoU include:
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FCA Reminds UK Firms to Regularly Review Their Regulatory Permission
Posted in Financial Markets, UK Developments
On January 18, the UK’s Financial Conduct Authority (FCA) published a statement reminding UK-authorized firms of their obligations to periodically review their regulatory permissions under Part 4A of the Financial Services and Markets Act 2000 to ensure they are up-to-date or otherwise removed where they are not needed (the Statement).
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FCA Updates COVID-19 Webpage With Guidance on Market Trading and Reporting
Posted in UK Developments
On January 8, the UK’s Financial Conduct Authority (FCA) updated its webpage providing information for firms relating to COVID-19 (the Webpage).
The Webpage notes that the FCA’s key considerations include:
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HMT Announces Open Access Regime for Exchange Traded Derivatives
Posted in Financial Markets, UK Developments
On December 30, 2020, HM Treasury (HMT) announced that the open access regime for exchange-traded derivatives (ETDs) introduced by the Markets in Financial Instruments Regulation (MiFIR) will continue to apply in the United Kingdom following the end of the transition period on December 31, 2020.
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FCA Publishes Statement on Use of TTP to Modify UK Derivatives Trading Obligation
Posted in Financial Markets, UK Developments
On December 31, 2020, the UK’s Financial Conduct Authority (FCA) published a statement on the use of temporary transitional power (TTP) to modify the UK’s derivatives trading obligation (DTO). The TTP will be implemented on December 31, 2020 at 11:00 p.m. UK time (the Statement).
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