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Includes developments in relation to: MiCA; financial stability; financial promotions on social media; Smarter Regulatory Framework; MRELs; MiFIR; EMIR 3; ELTIF Regulation; fund tokenisation; EU taxonomy; pensions dashboard; motor claims handling; APP fraud; sanctions; SARs Portal; internal models; and CRA Regulation.
General
- MiCA - Draft technical standards and guidelines published
- Financial stability - FPC publishes record of meeting and outlines approach to operational resilience
- Approach to appointment of statutory panel members - FCA publishes statement of policy
- Financial promotions on social media - FCA publishes finalised guidance
Beyond Brexit
- Smarter Regulatory Framework - HM Treasury publishes policy paper on next phase
Banking and Finance
- MREL reforms - Council of the EU adopts proposed Directive
- Specific direction 12 and maintenance of free-to-use ATMs - PSR calls for views
- Farol Holdings Ltd and others v Clydesdale Bank Plc and another, [2024] EWHC 593 (Ch)
Securities and Markets
- MiFIR Amending Regulation transitional provision - European Commission interpretative notice and ESMA guidance published
- EMIR 3 - ESMA publishes guidance on clearing obligation for third-country pension scheme arrangements
Asset Management
- ELTIF Regulation - European Commission announces intention to adopt amended draft RTS
- Using a host model to manage AIFs - FCA publishes findings from review
- Fund tokenisation in UK asset management - report published
Insurance
- Reporting taxonomy - EIOPA launches survey on implementation date
- Pensions dashboard - FCA publishes further Consultation Paper (CP24/4) and DWP publishes guidance on connection
- Claims-handling processes for total-loss claims - FCA publishes multi-firm review findings
Financial Crime
- CCP Graduate School Ltd v National Westminster Bank plc and another, [2024] EWHC 581 (KB)
- Financial sanctions compliance in the UK - OFSI publishes survey
- SARs Portal - NCA updates guidance
Enforcement
- Internal model breaches - ECB imposes fines
- Conflicts of interest failures under CRA Regulation - ESMA issues fine
- Unauthorised investment scheme - FCA charges four individuals