On April 6, the UK Financial Conduct Authority (FCA) announced that legal entity identifiers (LEIs) of non-EEA third country issuers will not need to be reported under the UK version of the European Union’s Regulation on reporting and transparency of securities financing transactions (UK SFTR), until at least April 13, 2022.
Continue Reading FCA Update on Reporting LEIs of Non-EEA Third Country Issuers Under UK SFTR

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 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 9, the UK’s Financial Conduct Authority (FCA) and the UK’s Prudential Regulation Authority (PRA) jointly published a Dear CEO letter to regulated firms regarding final preparations for the end of the Brexit transition period (the Letter).

The key areas addressed by the FCA and PRA in the Letter include:
Continue Reading FCA and PRA Publishes Dear CEO Letter on Final Preparations for the End of Brexit Transition Period

Katten hosts a weekly, 15-minute fireside chat podcast series on notable UK and European developments from the prior week’s Corporate and Financial Weekly Digest. In this week’s edition, Neil Robson addresses the September reopening of the UK’s Temporary Permissions Regime registration window for EU/ EEA firms, Carolyn Jackson tackles the updates to ESMA’s Q&As on

On April 30, the Bank of England (BoE) and the UK’s Prudential Regulation Authority (PRA) published a joint statement, and the UK’s Financial Conduct Authority (FCA) published a statement on HM Treasury’s proposed use of the UK financial services regulators’ temporary transitional power (TTP) for up to two years after the end of the Brexit transitional period in December 2020 (the Statements). 
Continue Reading BoE, FCA and PRA Statements on Regulators’ Temporary Transitional Power

On February 4, the UK’s Joint Money Laundering Steering Group (JMLSG) announced proposed amendments to its anti-money laundering (AML) and counter-terrorist financing (CTF) guidance (the Guidance). The JMLSG is a UK-focused group of trade bodies which produces AML and CTF guidance to assist the financial services industry.
Continue Reading AML: JMLSG Proposes Amended Guidance

On January 30, the UK Financial Conduct Authority (FCA) issued a press release (the Press Release) advising UK and EU firms on the implementation period, which starts when the UK leaves the EU at 11:00 p.m. GMT (6:00 p.m. EST) tonight (i.e., January 31), and is expected to end in 11 months’ time on December 31 (for more information please see the January 24 edition of Corporate & Financial Weekly Digest).
Continue Reading Brexit: FCA Updates UK and EU Firms on Transition Period