BANKING

FSB stocktake of cyber-security regulations, guidance and supervisory practices

The Financial Stability Board (FSB) has published a report with the results of its stocktake of publicly released cyber-security regulations, guidance and supervisory practices in the financial services sector. The FSB has also published a summary of the report.

FSB, 13 October 2017

 

Wolfsberg Group work on due diligence and payment transparency standards

The Wolfsberg Group has announced in a press release the completion and publication of two pieces of work intended to strengthen the international financial system.

Wolfsberg Group, 15 October 2017

 

Reformed SONIA will be implemented on 23 April 2018

The Bank of England has confirmed in a press release that its reforms to the sterling overnight index average (SONIA) interest rate benchmark will take effect on Monday 23 April 2018. The reforms will see the Bank taking on the end-to-end administration, including the calculation and publication of SONIA.

Bank of England, 16 October 2017

 

INVESTMENT AND FUNDS

Asset management authorisation hub launched by FCA

The FCA has announced in a press release the launch of phase one of its new asset management authorisation hub. The hub has been launched to support new firms by assisting them with the authorisation process and will offer new firms pre-application meetings, dedicated case officers and access to a new website portal. This is designed to make it easier for firms to understand how the FCA works, make a complete submission, and transition from the FCA's authorisation to supervision regime.

FCA, 16 October 2017

 

European Commission Implementing Decision on equivalence of arrangements of US CFTC regime for purposes of Article 11 of EMIR published in OJ

The European Commission Implementing Decision on the recognition of the legal, supervisory and enforcement arrangements of the US for derivative transactions supervised by the Commodity Futures and Trading Commission (CFTC) as equivalent to certain requirements of Article 11 of EMIR has been published in the Official Journal of the EU (OJ).

OJEU, 14 October 2017

 

Joint statement by European Commission and CFTC on common approach to certain derivatives trading venues

The European Commission has published a statement issued jointly by Vice President Valdis Dombrovskis, European Commissioner and J. Christopher Giancarlo, US Commodity Futures and Trading Commission (CFTC) Chair, announcing a common approach to certain derivatives trading venues.

European Commission, 13 October 2017

 

ESMA instructions on MiFID II and its FIRDS

The ESMA has published instructions relating to the Financial Instruments Reference Data System (FIRDS). The purpose of the document is to provide details on the reference data files that ESMA will be publishing and how to access them.

ESMA, 6 October 2017