On November 16, the UK’s HM Treasury, Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) jointly published a statement on the introduction of the new Investment Firms Prudential Regime (IFPR) and the UK implementation of Basel standards reflecting the CRR II Regulation (the Statement).
Continue Reading Regulatory Capital – UK Authorities Jointly Publish Statement on New UK Prudential Rules

On November 9, the Chancellor of the UK’s HM Treasury announced its intention to provide equivalence decisions to European Economic Area (EEA) States and Member States of the European Union (EU) that will come into effect at the end of the Brexit transition period (the Announcement).
Continue Reading HM Treasury Announced Equivalence Decisions for EEA and EU Member States

On November 6, the European Securities and Markets Authority (ESMA) published a consultation paper on draft guidelines on obligations regarding market data under the Markets in Financial Instruments Regulation (MiFIR) and Markets in Financial Instruments Directive (MiFID II) (the Consultation Paper).
Continue Reading ESMA Publishes Draft Guidelines on MiFIR and MiFID II Market Data Obligations

On November 6, the European Securities and Markets Authority (ESMA) updated its guidance on the Annex to its opinion determining transparency for third-country trading venues under the Markets in Financial Instruments Regulation (MiFIR) (the Guidance).
Continue Reading ESMA Updates Annex to Opinion Determining Third-Country Trading Venues Under MiFIR

On November 9, the European Securities and Markets Authority (ESMA) published a decision of its board of supervisors (held on November 5) on the delegation to the ESMA chair of the assessment of third-country trading venues (TCTVs) under Articles 20 and 21 of the Markets in Financial Instruments Regulation (MiFIR) (the Decision).
Continue Reading ESMA Published Decision on MiFIR Assessments of Third-Country Trading Venues

On November 4, the UK’s Financial Conduct Authority (FCA) published a statement regarding its approach to the UK share trading obligation (STO) after the end of the Brexit transition period.
Continue Reading FCA Publishes Statement on Approach to Share Trading Obligation After Brexit Transition Period

On October 28, the UK’s Financial Conduct Authority (FCA) published a policy statement on the extension of implementation deadlines for solo-regulated firms under the Senior Managers and Certification Regime (SM&CR) regarding the certification regime and conduct rules (the Policy Statement).

The deadlines extended in the Policy Statement from December 9, 2020 to March 31, 2021 by the FCA include:
Continue Reading FCA Extends SM&CR Deadlines and Confirms Publication Dates for SM&CR Directory Person Data

On October 26, the European Securities and Markets Authority (ESMA) published a statement on the impact of the UK’s departure from the EU on December 31, relating to the requirement for EU investment firms only to trade shares on an EU trading venue, with an EU systemic internalizer or on an equivalent third-country exchange (known as the share trading obligation or STO) under Article 23 of the Markets in Financial Instruments Regulation (MiFIR) (the Statement).
Continue Reading ESMA Publishes Statement on Trading Obligation for Shares Under MiFIR After Brexit

On October 27, the European Securities and Markets Authority (ESMA) published a press release announcing it had added UK venues to the list of third-country venues in respect of the opinions on post-trade transparency and position limits under Markets in Financial Instruments Regulation (MiFIR) and the revised Markets in Financial Instruments Directive (MiFID II) (the Press Release).
Continue Reading ESMA Adds UK Venues to Third-Country Trading Venues Under MiFIR and MiFID II