This month's roundup of developments affecting banks, wealth managers, brokers and funds sees: delay in announcement of PRIIPs Regulation disclosure rules; European Commission adopts CSDR level 2 legislative acts; ESMA has published its final report on delaying EMIR; and three Delegated Regulations published in the Official Journal of the EU.
General Developments
- FMLC response to ESMA consultation on technical standards under Benchmark Regulation
- Leading investment and pension bodies publish consultation to improve pension and investment transfers and re-registrations
- Speech by ESMA Executive Director at the 2016 Global Capital Markets Conference
- Council of EU announces final compromise text of MMR Regulation
- Implementing Regulation on ITS for reporting results of internal approach calculations under CRD IV published in OJ
- ECON report on proposed Regulation amending date of application of PRIIPs Regulation
- Compromise proposal on Regulation amending EuVECA Regulation and EuSEF Regulation
- FSB discussion note on essential aspects of CCP resolution planning: responses
- EC report on round 15 of TTIP negotiations
- Legislative proposal for Regulation on CCP resolution and recovery from EC
- IA outsourcing working group updates guidance
- Speech on regulation and distributed ledger technology published by ESMA
- PRIIPs Regulation disclosure rules changes: FCA announces delay until 2017
- FCA finds weak price competition in some areas of the asset management industry
- Consultation on regulatory fees and levies 2017/18
- Consultation on Handbook changes to reflect Lifetime ISA
- Political agreement on MMF Regulation
- Final report on guidelines on validation and CRAs' methodologies review from ESMA
- European Parliament to consider proposed Regulation amending date of application of PRIIPs Regulation at 30 November and 1 December 2016 plenary session
- European Commission adopts CSDR level 2 legislative acts
- EC letter to ESAs requesting opinions on key information documents
- ESMA publishes final report on technical advice under the Benchmarks Regulation
- Proposal to extend PRIIPs regulation application
- EC green paper on retail financial services: ECON report
- ESMA publishes list of designated NCAs under Article 40 of the Benchmark Regulation
- EBA discussion paper on designing a new prudential regime for investment firms
- Equity trading costs continue to decline in the UK
- Sales in September driven by mixed asset and global equity funds
Investments & Investment Services
- New FCA webpage for firms subject to MiFID II transaction reporting obligations
- European Commission adopts MiFID II delegated regulation on commodity derivatives
- PRA's second consultation on implementation of MiFID II
- Three Delegated Regulations under MiFIR have been published in OJ
- ESMA has published new Q&As on MiFID II and MiFIR market structures topics
- ESMA has updated MiFID II transparency Q&As relating to waivers
- Speech on improving outcomes for investors in EU-based investment funds
- ESMA publishes consultation paper on draft RTS on package orders under MiFID II
- Call for evidence on pension funds and social investment
- Consultation on other CRA products
- MiFID II transparency Q&As updated by ESMA
- ESMA prepares for MIFID II Systematic Internaliser regime
EMIR & Derivatives
- Outcomes of EMIR review reported by EC
- Supervisory approach for CCPs' product and service extensions and changes to risk models under EMIR
- ESMA has published its final report on delaying EMIR clearing obligation for financial counterparties with a limited activity volume
- ESMA corrects consultation on draft technical standards under SFT Regulation and amendments to related EMIR RTS
Funds
- ESMA updates Q&A on application of UCITS Directive
- FCA will not issue guidance on application of UCITS Remuneration Code
- IOSCO consultation responses on good practices for investment fund termination
- FCA bank review into sales of interest rate hedging products
Market Conduct
- ESMA Risk Dashboard
- ESMA to provide free credit ratings information to public
- FCA consultation on amendments to DTR 2.5 under MAR
- Financial Services and Markets Regulations 2016 announced
- ESMA Chair says safeguarding investors is key to Capital Markets Union's success
- ESMA MAR guidelines on persons receiving market soundings
- EBA responds to Commission call for advice report on standardised approach for counterparty credit risk and own funds requirements for market risk
