Regulation Round Up - February 2020

Author:Mr Andrew Wingfield, Richard Bull, John Verwey, Jade-Alexandra Fearns and Amar Unadkat
Profession:Proskauer Rose LLP

3 February

The European Banking Authority ("EBA") published a report on the benchmarking of diversity practices in credit institutions and investment firms under the CRD IV Directive (2013/36/EC).

The European Commission published its recommendation for a Council of the EU decision authorising the opening of negotiations for a new partnership with the UK.

The Financial Conduct Authority ("FCA") updated its web page on Brexit to set out issues for UK firms to consider during and after the transition period, which ends on 31 December 2020.

The UK government published a written statement on UK-EU relations that sets out its proposed approach to negotiations on the future UK-EU relationship.

The FCA published its Dear CEO letter to credit card firms about the approach firms should take to customers who have been in persistent debt for 36 months.

The EBA published the methodological note relating to the 2020 EU-wide stress test for banks.

The European Securities and Markets Authority ("ESMA") published a consultation paper on the Markets in Financial Instruments Regulation (600/2014/EU) ("MiFIR") pre-trade transparency regime for systematic internalisers active in non-equity instruments.

4 February

The Joint Money Laundering Steering Group ("JMLSG") published a press release announcing proposed revisions to its anti-money laundering and counter-terrorist financing guidance for the financial services sector.

The FCA published a policy statement on publishing and disclosing costs and charges to workplace pension scheme members (PS20/2).

ESMA published a consultation paper on the transparency regime for equity and equity-like instruments, the double volume cap mechanism, and the trading obligations for shares under MiFIR.

ESMA published its final report containing technical advice to the European Commission on the effects of the product intervention measures set out in MiFIR.

6 February

The FCA published a Dear CEO Letter setting out its key concerns and expectations relating to the supervision of platforms.

ESMA published its strategy on sustainable finance.

ESMA published a statement on providing an update on the implementation of its supervisory briefing on pre-trade transparency in commodity derivatives under MiFIR.

The FCA published an updated web page on using the FCA Connect system to submit notifications and applications under EMIR.

7 February

The FCA, the Information Commissioner's Office and the Financial Services Compensation Scheme...

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