IRSG report on new basis for access to EU-UK financial services post-Brexit

The International Regulatory Strategy Group has published a report on a new basis for access to EU-UK financial services post-Brexit, which sets out proposals for the principal components of a financial services chapter in a free trade agreement. These proposals are based on the assumption that passporting rights will cease to apply on the date that the UK leaves the EU.

International Regulatory Strategy Group, 26 September 2017


EBA final guidelines on internal governance under CRD IV

The EBA has published its final guidelines on internal governance under the CRD IV Directive, as was required under Article 74(3). The requirement stipulated that they develop guidelines on internal governance arrangements, processes and mechanisms that credit institutions and investment firms must implement to ensure effective and prudential management. 

EBA, 26 September 2017



CMA publishes final report on market study into digital comparison tools

The Competition and Markets Authority has published the final report on its market study into digital comparison tools. Digital comparison tools, such as price comparison websites, are an important tool in the financial services sector, and can increase competition or offer significant benefits to consumers.

CMA, 26 September 2017



Council of EU decides not to object to Delegated Regulation amending MiFID II systematic internaliser definition

The Council of the EU has published a press release reporting on the outcome of its 3560th meeting, held on 25 September 2017. They decided not to object to the Commission Delegated Regulation amending Delegated Regulation (EU) 2017/565 as regards the specification of the definition of systematic internalisers (SIs) for the purposes of the MiFID II Directive (2014/65/EU).

Council of the EU, 26 September 2017


Responses to IOSCO consultation on third batch of key OTC derivatives data elements

The International Organisation of Securities Commissions (IOSCO) has updated its webpage on public reports to include links to the published public responses to its consultative report issued jointly with the Committee on Payments and Market Infrastructure in June 2017, on the harmonisation of the third batch of key OTC derivatives data elements, other than the unique transaction identifier (UTI) and the unique product identifier (UPI).

International Organisation of Securities Commissions, 26 September 2017


European Commission adopts amending Delegated Regulation on RTS on consolidated tape for non-equity products under MiFID II

The European Commission has published the text of Delegated Regulation it has adopted amending Delegated Regulation which supplements the MiFID II Directive with regulatory technical standards on authorisation, organisational requirements and the publication of transactions for data reporting services providers.

European Commission, 26 September 2017


ESMA and EBA final guidelines on assessment of suitability of management body members

The EBA and ESMA have published final guidelines on the assessment of the suitability of members of the management body, and key function holders in accordance with the CRD IV Directive and the MiFID II Directive.

EBA and ESMA, 26 September 2017