Financial Institutions Regulation

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RegZone provides you with expert analysis and daily news from the fast-changing world of European financial institution regulation for those working in banking and finance, insurance, funds and asset management and securities and derivatives.

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Recent Articles

  •  
    14/06/2024
    Luxembourg

    Implementation of EU acts on digital operational resilience (DORA) into Luxembourg law: new requirements upon entities of the financial sector

    On 13 June 2024, bill of law 8291 on digital operational resilience (“DORA”) (the “Law”) was voted by the Parliament.The Law aims at (i) applying the rules set out in Regulation (EU) 2022/2554 on DORA for the financial sector (the “Regulation”) and (ii) implementing Directive (EU) 2022/2256 amending several EU directives as regards DORA for the financial sector (the “Directive”).The Law punctually amends several Luxembourg laws, such as the law of 5 April 1993 on the financial sector, as amended (the “LFS”), the law of 10 November 2009...
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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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  •  
    29/05/2024
    United Kingdom

    Operational Resilience: The Countdown

    The countdown is on to make sure your firm is ready to comply with the operational resilience rules by 31 March 2025. This date marks the end of the transition period, but the requirement to be operationally resilient is not a once and done activity, or something that should be seen as tick-box regulatory compliance. Instead, this should be a way of working that is embedded into a firm’s overall culture.The FCA provided feedback to firms on 28 May 2024 which included insights and observations to support firms with their continued implementation of the rules.In our view, this FCA...
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  •  
    28/05/2024
    United Kingdom

    A guide to the regulators’ joint consultation on implementing and operating the Digital Securities Sandbox

    On 3 April 2024, the Financial Conduct Authority (“FCA”) and Bank of England (“BoE”) published CP24/5, a joint consultation paper (“Consultation Paper”) on a suggested approach to implementing and operating the Digital Securities Sandbox (“DSS”).The DSS offers firms the opportunity to test and innovate with new technologies like distributed ledger technology (“DLT”) in relation to certain financial services activities, such as issuing, trading, and settling securities. Firms approved to participate in the DSS can operate under a tailored...
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  •  
    20/05/2024
    England and Wales

    The FCA’s anti-gre­en­wash­ing rule and guidance: what are the litigation risks for firms?

    The Financial Conduct Authority (FCA) has recently published its finalised guidance on the anti-greenwashing rule, which will come into force on 31 May 2024. The anti-greenwashing rule, in the Environmental, Social and Governance (ESG) Sourcebook, requires all FCA authorised firms to ensure that any reference to the sustainability characteristics of a product or service is:consistent with the sustainability characteristics of the product or service, andfair, clear and not misleading. The guidance is intended to help firms understand and comply with the rule, by setting out the FCA’s...
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  •  
    16/05/2024
    United Kingdom

    ESMA releases Final Report on Guidelines for fund names using ESG or sus­tain­ab­il­ity-re­lated terms

    On 14 May 2024, ESMA released its Final Report setting out its finalised guidelines (the “Final Report Guidelines”) on the use of ESG and sustainability-related terms in investment fund names. Following the incorporation of feedback received from stakeholders and market participants to the proposals in the Consultation Paper released on 18 November 2022 (the “Consultation Paper Proposal”), several changes have been made to the Guidelines – which we summarise below.ESMA considers that fund names, as the first information seen by investors, can materially impact investors’...
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