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12 Jan
2017
FCA 4th CP, FCA MiFID II, FCA MiFID Consultation, FCA Tied agents, FCA specialist regimes

The FCA’s 4th MiFID II consultation: an eclectic mix of technical standards

On 16 December 2016, the Financial Conduct Authority (FCA) published their fourth and final consultation paper (CP) on implementing MiFID II regulations into domestic regulation by 3 July 2017, which will be applied to firms from 3 January 2018.  MiFID II aims to bolster competition in the EU’s financial market by creating a single market Read More

05 Feb
2016
Online Dispute Resolution, ODR

Online dispute resolution is here

The European Commission is in the final stages of launching its online dispute resolution (ODR) platform to the public.  This has been an extended process which involved the publication of a designated regulation on online dispute resolution for consumer disputes back in 2013.  As of 7 January 2016, the launch of the platform was heralded Read More

30 Jun
2015

A fresh look at regulatory design: Impact assessments and post-implementation reviews for EU regulation

  • 30th June 2015
  • RegTechFS

JWG analysis. TheCityUK today published its research report on EU reform.  In it, they outline proposals for a more competitive Europe, focusing on regulatory reform in section five. As TheCityUK emphasises, and we have previously mentioned in our publications, a spate of fresh regulation has been initiated within and beyond the G20 since the global Read More

28 Jan
2015

Happy EU Data Protection Day!

By Sam Tyfield, Vedder Price. Back in 2009, the EU issued a Recommendation (which has no binding legal effect) on the use and application of RFIDs (which, for our purposes, means ID/swipe/access cards).  The EU has just issued a review of the implementation of the Recommendation EU-wide and has found take-up by EU member States Read More

07 Feb
2014

EU to change IP laws within four years

  • 7th February 2014
  • RegTechFS

By Sam Tyfield.  In November 2013, the EU Commission published a draft Directive on “the protection of undisclosed know-how and business information (trade secrets) against their unlawful acquisition, use and disclosure”. All else being equal, we may expect the Directive to be put into national laws within the next four years. Notwithstanding the extended timetable, Read More

16 Jan
2014

MiFID II: More time but don’t let your guard down!

Working late into Tuesday night, European lawmakers concluded a compromise over the new Markets in Financial Instruments Directive (MiFID II).  The final text has not yet been made public, and is not expected for several days.  However, some details have emerged. Concessions had to be made on both sides, with the Parliament advocating for robust Read More

16 Dec
2013

EU FTT – it’s “alive and deadly” apparently

  • 16th December 2013
  • RegTechFS

By Sam Tyfield, Vedder Price As you will recall: 11 member states of the EU have proposed a FTT using the ‘enhanced cooperation’ procedure; the FTT proposed includes spot FX; the EU Council has obtained a legal opinion stating that the imposition of a FTT by an 11 member state group is unlawful because: A) Read More

11 Oct
2013

AIFMD delay? Lawyers petition FCA to relent on 22 July 2014 deadline

  • 11th October 2013
  • RegTechFS

On Thursday, 10 October, the City of London Law Society (a trade body for City solicitors) published a letter dated 23 September accusing the FCA of gold-plating (or at least misinterpreting) the AIFMD (Alternative Investment Fund Managers Directive). The dispute surrounds the date by which firms must be AIFMD-compliant.  In its interpretation of the Directive, Read More

24 Sep
2013

Sleepless nights: Lack of RRP consensus worries boards

  • 24th September 2013
  • RegTechFS

With criminal penalties for bank mismanagement, the absence of clear standards for banks’ recovery plans leaves outliers feeling exposed, so what should you do? The EBA recently received industry responses to two consultation papers it issued in May. They concern technical standards on scenarios banks should use to test their recovery plans, and how RRPs Read More