Derivate & strukturierte Finanzierung

Aktuelle eAlerts

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  05/06/2024

  United Kingdom

  2024 UK EMIR Refit: finalisation of Q&A-style guidance

  On 30 September 2024, significant changes to the UK’s derivatives reporting framework will come into effect known as the “2024 UK EMIR refit”. Counterparties are in the process of finalising implementation projects to reflect the revised Article 9 reporting requirements under the UK version of the European Market Infrastructure Regulation (“UK EMIR”), having negotiated similar changes in relation to EU EMIR, which took effect on 29 April 2024. The UK Financial Conduct Authority (“FCA”) and Bank of England (“BoE”) (together the “Supervisory...

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  03/06/2024

  United Kingdom

  Ancillary Activities Exemption – a change in approach for commodity derivatives and emission allowances firms

  On 29 May 2024, the Financial Services and Markets Act 2000 (Commodity Derivatives and Emission Allowances) (Amendment) Order 2024 (SI 2024/719) (the “2024 Order”) was published alongside an explanatory memorandum. The 2024 Order omits prospective amendments to the UK regulated activities perimeter, with the effect that the planned changes to the ancillary activities regime for firms trading commodity derivatives or emission allowances have been indefinitely delayed. This followed significant concerns from industry that moving to a qualitative approach to determining whether firms require...

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  29/11/2023

  United Kingdom

  FCA’s Policy Statement 23/16: Sustainability Disclosure Requirements (SDR) and investment labels

  Further to the FCA’s CP22/20 the FCA has published, on 28 November, its final rules and guidance to help consumers navigate the market for sustainable investment products (“PS23/16”).There is a huge amount of detail within PS23/16, and we will be providing more extensive commentary in the days to come. For now, we have highlighted the main changes from CP22/20, included the amended implementation timeline and a summary of the final package. What is changing in response to CP22/20?Most of the CP22/20 proposals have been amended – some more significantly than others –...

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  07/11/2023

  United Kingdom

  Financial services outsourcings and AI

  With the AI summit last week in Bletchley Park where a world-first agreement has been made between the UK, EU, US and China on the opportunities and risks posed by AI, we thought it was a good time to provide our initial thoughts on AI and the potential impact on regulated outsourcing arrangements. As outlined in the Bletchley Declaration, AI presents a significant opportunity for regulated firms to enhance and automate processes and tasks, both internally and externally via third party service providers, alongside some complex challenges and risks.Ultimately, our view is that the challenges are...

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  06/11/2023

  United Kingdom

  UK Cryptoasset Regulation: three key updates

  On 30 October 2023, HM Treasury (“HMT”) published 3 key updates on its proposed approach to regulating cryptoassets under the UK’s financial services regulatory framework, namely:Response to feedback received on its February 2023 consultation and call for evidence on the future financial services regulatory regime for cryptoassets (the “February 2023 Consultation”);Policy update and consultation response on its plans for regulating fiat-backed stablecoins; andResponse to its May 2022 consultation on the management of failure of systemic digital settlement asset firms.Together,...

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  30/10/2023

  United Kingdom

  AI in financial services: industry feedback published and other developments

  On 26 October 2023, the Bank of England (“BoE”), Prudential Regulation Authority (“PRA”) and Financial Conduct Authority (“FCA”) (together, the “Supervisory Authorities”) published a joint Feedback Statement on ‘Artificial Intelligence and Machine Learning’ (FS2/23) (the “Feedback Statement”). The Feedback Statement is a follow-up to the Discussion Paper (DP5/22) on the same topic published in October 2022 (the “BoE/FCA Discussion Paper”).On 26 October 2023, the UK Government also published a Discussion...

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