BANKING

 

FCA consults on persistent credit card debt and earlier intervention remedies

The FCA has published a consultation paper on persistent credit card debt and earlier intervention remedies (CP17/10). In CP17/10, the FCA sets out proposed new rules to help customers who are in persistent credit card debt. This follows the FCA's 2016 credit card market study, which identified significant concerns about the scale, extent and nature of problem credit card debt. The consultation ends on the 3 July 2017. Financial Conduct Authority, 3 April 2017

 

INSURANCE

Insurance Fraud Bureau opens membership to insurance supply chain

The Insurance Fraud Bureau (IFB) has published a press release announcing that it has launched a new "affiliate model" of membership. The press release states that, for the first time, the IFB has opened up its membership to the insurance supply chain, including defendant solicitors, loss adjustors and third-party administrators. Affiliate members will have access to the IFB's fraud intelligence alerts, and will contribute to the cross-industry investigations that the IFB manages. Insurance Fraud Bureau, 3 April 2017

 

INVESTMENTS AND FUNDS

ESMA updates Q&A on MiFIR data reporting

The European Securities and Markets Authority (ESMA) has published its updated Q&As document regarding data reporting under the Market in Financial Instruments Directive (MiFID II) and Regulation (MiFIR). ESMA, 3 April 2017

 

ESMA updates EMIR Q&A and validation rules

The ESMA has published an update of its Q&As on practical questions regarding the European Markets Infrastructure Regulation (EMIR) following the publication of the revised technical standards on reporting under Article 9 of EMIR. ESMA, 3 April 2017

 

New FCA MiFID II notification form for firms selling and advising clients on structured deposits

The FCA has published a notification form for use by firms wishing to sell or advise on structured deposits after 3 January 2018 (the date of application for measures transposing the MiFID II Directive (2014/65/EU)). The FCA has also published a webpage on structured deposits under MiFID II. Financial Conduct Authority, 3 April 2017

 

Limited partnerships: final legislative reform order on amendments to Limited Partnerships Act 1907 in respect of private investment funds

HM Treasury has published the final legislative reform order on proposed amendments to the Limited Partnerships Act 1907 in respect of private investment funds such as venture capital and private equity funds. The final order was made on 29 March 2017 and is in substantially the same form as the revised draft Legislative Reform (Private Fund Limited Partnerships) Order 2017, published in January 2017. The order comes into force on 6 April 2017. Legislation.gov, 29 March 2017