On July 14, the European Commission (the Commission) adopted several implementing and delegated acts relating to central counterparties (CCPs) established in third countries (TCs) under the so-called “EMIR 2.2” revisions to the European Market Infrastructure Regulation (the Delegated Acts).
Continue Reading European Commission Adopts EMIR 2.2 Provisional Delegated Acts
Delegated Regulations
AML: Delegated Regulation on High-Risk Third Countries under MLD4 Published in the Official Journal of the EU
Posted in EU Developments, Financial Markets
On June 19, Delegated Regulation (EU) 2020/855 (the Delegated Regulation) was published in the Official Journal of the EU. The Delegated Regulation amends the list of high-risk third countries with strategic anti-money laundering (AML) and counter-terrorist financing (CTF) deficiencies produced under the Fourth Money Laundering Directive (MLD4).
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AML: European Commission Adopts a New Delegated Regulation in Relation to the Fourth Money Laundering Directive
Posted in EU Developments, Financial Markets
On May 7, the European Commission (the Commission) adopted a new Delegated Regulation to amend the list of high-risk third countries with strategic anti-money laundering (AML) and counter-terrorist financing (CTF) deficiencies under the Fourth Money Laundering Directive (the Delegated Regulation).
The Delegated Regulation will:
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EU Publishes RTS Supplementing ELTIF Regulation
Posted in EU Developments, Financial Markets
On March 23, the Official Journal of the European Union published the European Commission Delegated Regulation 2018/480 (Delegated Regulation).
The Delegated Regulation sets out regulatory technical standards (RTS) on financial derivative instruments solely serving hedging purposes, sufficient length of the life of the European long-term investment funds (ELTIFs), assessment criteria for the market for potential buyers and valuation of the assets to be divested, and the types and characteristics of the facilities available to retail investors.
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FCA Transaction Reporting Instrument Reference Data Errors and Omissions Form Now Available
On January 11, the UK Financial Conduct Authority (FCA) updated its webpage on instrument reference data to make available a new instrument reference data errors and omissions form for trading venues or systematic internalizers (SIs) to complete if their instrument reference data is incomplete or inaccurate.
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CFTC Unanimously Approves Revisions to Delegated Authorities and Technical Amendments
By Dina Wegh & Kevin M. Foley on
Posted in CFTC
As a result of the recent Commodity Futures Trading Commission restructuring, the CFTC recently approved a Final Rule on Revisions to CFTC Delegated Authority Provisions and Technical Amendments.
Continue Reading CFTC Unanimously Approves Revisions to Delegated Authorities and Technical Amendments
European Commission Adopts Further MiFID II and MiFIR Delegated Regulations
By Neil Robson & Carolyn H. Jackson on
Posted in EU Developments, Financial Markets
On August 22, the European Commission (Commission) adopted two further delegated regulations (Delegated Regulations) to supplement the amended and restated Markets in Financial Instruments Directive (MiFID II), and the Markets in Financial Instruments Regulation (MiFIR).
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European Commission Adopts MiFIR Delegated Regulations
On June 24, the European Commission adopted two delegated acts to supplement the Markets in Financial Instruments Regulation (MiFIR). The delegated acts take the form of directly applicable regulations (together, Delegated Regulations)—meaning that they will be binding laws in each of the EU member states without any need for local law implementation.
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MAR Delegated Regulation on Abusive Practices and Suspicious Orders and Transactions Published
By David A. Brennand & Carolyn H. Jackson on
Updating the Corporate & Financial Weekly Digest March 18 edition, on June 17, the delegated regulation (Delegated Regulation) on arrangements, systems and procedures and notification templates to be used for preventing, detecting and reporting abusive practices or suspicious orders or transactions under the EU Market Abuse Regulation was published in the Official Journal of the European Union. The Delegated Regulation will go into effect 20 days following its publication, and is set to apply from July 3.
Continue Reading MAR Delegated Regulation on Abusive Practices and Suspicious Orders and Transactions Published
European Commission Adopts MiFID II and MiFIR Delegated Regulations
On June 13, the European Commission (Commission) adopted three delegated acts in relation to the amended and restated Markets in Financial Instruments Directive (MiFID II) and Markets in Financial Instruments Regulation (MiFIR). The delegated acts each take the form of a directly applicable regulation (together, Delegated Regulations). They cover: (1) the direct, substantial and foreseeable effect of derivative contracts in the European Union and the prevention of the evasion of rules and obligations (Derivatives Delegated Regulation); (2) requirements on market making agreements and schemes (Market Making Delegated Regulation); and (3) the volume cap mechanism and the provision of information for the purposes of transparency and other calculations (Volume Cap Delegated Regulation).
Continue Reading European Commission Adopts MiFID II and MiFIR Delegated Regulations