The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, today published a Final Report on amending the regulatory technical standards (RTS) on the Settlement discipline, to simplify the cash penalties process by putting the CSDs in charge of collection and distribution, including for CCP-cleared transactions. The proposed amendment would remove...
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FCA seeks members for new Innovation Advisory Group
In July 2022, the Innovation department announced it was setting up a new advisory group to deepen Innovation’s engagement with the industry and inform the FCA’s forward-looking work program. The role of the Innovation Advisory Group is to: share the FinTech and RegTech sectors’ views on issues and opportunities for innovation in financial services and...
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Guidance for consumers impacted by the Optus data breach
The Australian Government has released a factsheet to provide information on what to do if your data has been compromised in the recent Optus data breach. If you think you may be affected by the breach, contact Optus Customer service on 133 937. If you are concerned your identity has been compromised, contact your bank...
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101 firms in scope of new emergency asset retention rules for British Steel Pension Scheme transfer advice
New emergency asset retention rules now apply to 101 firms who provided pension transfer advice to former British Steel Pension Scheme (BSPS) members, 26 of these firms are subject to an asset restriction. We announced emergency rules on 25 April 2022 to prevent firms who advised BSPS members to transfer their benefits out of the...
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nformation for customers of unauthorised firm BubbleXT
On 6 October 2020, the FCA published a Warning against BubbleXT, a firm we believe may be providing financial services or products in the UK without our authorisation. The FCA has become aware that consumers are still being targeted by scammers who have set up ‘recovery rooms’ with promises of returning their funds for a...
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FCA appoints members for new Secondary Markets Advisory Committee
We have appointed the members of our new advisory committee on secondary markets for a period of two years until 1 June 2024. Secondary Markets Advisory Committee members: Alex Skrine (Director of Electronic Trading at Winterflood Securities) Christopher Murphy (Co-founder & CEO at Ediphy Group) Daniel Mayston (Managing Director, EMEA Head of Electronic Trading and...
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ESMA STUDY LOOKS AT REASONS FOR LOWER COSTS IN ESG FUNDS
23 May 2022 FUND MANAGEMENTSUSTAINABLE FINANCE The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published a study looking at the potential reasons behind the relatively lower ongoing costs, and better performance, of environmental, social and governance (ESG) funds compared to other funds, between April 2019 and September 2021. ESMA recently...
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UK authorities look to strengthen resilience of Money Market Funds
The FCA, jointly with the Bank of England, and with the endorsement of the Treasury, has today published a Discussion Paper on Money Market Fund (MMFs) reform. This seeks views to inform the development of MMF reform proposals. The FCA has also published guidance on the UK MMF Regulation. MMFs are a type of open-ended...
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ESAS RECOMMEND CHANGES TO MAKE THE PRIIPS KEY INFORMATION DOCUMENT MORE CONSUMER-FRIENDLY
The European Supervisory Authorities (EBA, EIOPA, and ESMA – ESAs) published today their technical advice to the European Commission on the review of the PRIIPs Regulation. The advice will serve as input for developing the Commission’s Retail Investment Strategy. Taking into account the details provided by the European Commission in January 2021 on their intended...
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ESMA PUBLISHES THE ANNUAL TRANSPARENCY CALCULATIONS FOR NON-EQUITY INSTRUMENTS AND THE QUARTERLY SYSTEMATIC INTERNALISER CALCULATIONS
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today made available the results of the annual transparency calculations for non-equity instruments other than bonds and the quarterly systematic internalizer calculations. Annual transparency calculations for non-equity instruments other than bonds The results of the annual transparency calculations for non-equity instruments will...
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