This month's roundup of developments affecting banks, wealth managers, brokers and funds sees: Capital Asset Management criticise wealth management advice fees, ESMA update its MiFID II Q&As on transparency and market structure, a request from EACT to keep the corporate hedging exemption in EMIR, ESMA publish an opinion on UCITS share classes and update its Q&A on the Market Abuse Regulation

Read the issue in full 

General Developments

• ESMA 2017 work programme for credit rating agencies, trade repositories and third country CCPs
• Corrigendum to Delegated Regulation on RTS on risk mitigation techniques for uncleared OTC derivative contracts under EMIR
• ISDA updates OTC derivatives compliance calendar
• ESMA Q&A on alternative performance measures
• Report criticises wealth management advice fees
• FSB reports on re-hypothecation of client assets and collateral re-use
• FCA updates responsibilities for advisers and firms accepting business from introducers
• FCA consults on changes to CASS in light of SAR review
• Euan Munro joins Investment Association Board
• FSB publishes Policy Recommendations to Address Structural Vulnerabilities from Asset Management Activities
• Investment Association’s monthly statistics of UK investor behaviour in November 2016

Investments & Investment Services

• ESMA updates MiFIR data reporting Q&As
• ESMA updates MiFID II Q&As on transparency and market structure
• FCA direction relating to forms and MiFID II
• FCA releases MiFID II market data processor application form
• AFME publishes MiFID II exchange questionnaire
• ESMA briefing on MiFID II technical data reporting requirements
• FCA guide to applications and notifications under MiFID II
• ESMA opinion on impact of exclusion of fund managers from scope of MiFIR intervention powers
• Follow-up Report to the Peer Review on Best Execution
• ESMA publishes responses to consultation on suitability of management bodies of market operators and data reporting services providers
• Responses to ESMA consultation on draft RTS on package orders under MiFID II
• Questionnaire to help firms meet MiFID II requirements relating to IT outsourcing

EMIR & Derivatives

• FCA updates webpage on margin requirements for uncleared derivatives
• Council endorses EMIR delegated regulations
• ESMA updates Q&A on EMIR implementation
• European Commission will publish legislative proposal to revise EMIR in spring 2017
• Keep corporate hedging exemption, says EACT in EMIR Review response
• ESMA consults on guidelines on transfer of data between trade repositories
• EMIR Review and ESMA sanctioning powers under EMIR and CRAR
• ESMA issues opinion on Spanish pension schemes to be exempt from central clearing under EMIR
• Delegated and Implementing Regulations on technical standards on EMIR reporting requirement
• European Commission amends phase-in of margin requirements under EMIR
• EBA and ESMA call to clarify margin requirements between CRR and EMIR

Funds

• ESMA opinion on UCITS share classes

Market Conduct

• EMMI update on second phase pre-live verification programme for evolution of EURIBOR
• ESMA updates Q&A on the Market Abuse Regulation
• ECB speech on the repo market
• BoE speech on market functioning
• ESMA Chair speaks on reforms in OTC derivatives markets and benchmarks at Prime Conference
• ESMA: official translations of MAR guidelines on commodity derivatives