Regulación de instituciones financieras

Artículos Recientes

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  22.08.2023

  Luxemburgo

  CSSF cla­ri­fi­ca­tio­ns on registration of virtual asset service providers are available!

  On 17 August 2023, the Commission de Surveillance du Secteur Financier (the « CSSF ») published frequently asked questions (the “Q&As”) on virtual asset service providers (the “VASPs”) to supplement its previous Q&As on (i) virtual assets for credit institutions and undertakings for collective investments and (ii) the fight against money laundering and terrorist financing (“AML/CTF”) for individuals/investors.The twenty Q&As are based on the current Luxembourg laws and do not take into consideration EU texts such as the regulation...

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  17.08.2023

  Luxemburgo

  CSSF Thematic Review on the im­ple­me­n­ta­tion of su­s­tai­na­bi­li­ty-re­la­ted provisions in the investment fund industry

  IntroductionAs sustainable finance gains momentum, regulators worldwide are placing greater emphasis on the integration of environmental, social, and governance (ESG) considerations into investment practices. In that context, the Luxembourg Commission de Surveillance du Secteur Financier (CSSF) has taken several initiatives to verify the correct implementation of the sustainability-related requirements in the investment fund industry, including (i) on-site inspections on the integration of sustainability-related provisions in the governance of investment fund managers (IFMs) and (ii) an off-site...

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  22.06.2023

  United Kingdom

  The Consumer Duty and outsourcing: remediation or not?

  The Consumer Duty (“Duty”) applies to all regulated firms that have a material influence over, or determine, retail customer outcomes. As firms approach the key 31 July 2023 milestone for their implementation work, focus turns to the potential impact on firms’ outsourced service arrangements for both day 1 and on operational controls on an ongoing basis.In-scope agreementsThe Duty will apply even where a firm does not have a direct contractual relationship with the retail customer. This may be where the firm has outsourced arrangements with:an unregulated service provider whose...

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  15.06.2023

  Luxemburgo

  New Co­m­mi­s­sion’s proposal on the EU Retail Investment Strategy

  Background“Only 38% of consumers are confident that the investment advice they receive from financial intermediaries is primarily in their best interest”, a recent Eurobarometer survey revealed.1The current trend is towards more retail investments, notably driven by retail-oriented initiatives such as the newly introduced ELTIF reform – please refer to our dedicated page on this topic – . In this context,  the European Commission (the EC) is constantly seeking to create an improved and fairer market, increasing trust, and encouraging retail investors’ participation...

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  17.05.2023

  United Kingdom

  UK Open Banking: JROC sets out its vision for the next phase of open banking in the UK

  On 17 April 2023, the Joint Regulatory Oversight Committee (JROC) published a report setting out its vision for the future of open banking as well as its recommendations and proposed actions for delivering the next phase of open banking in the UK.  The JROC was established in March 2022 to design and oversee the next phase for open banking.  It comprises the Financial Conduct Authority (FCA) and the Payment Systems Regulator (PSR) as co-chairs and HM Treasury and the Competition and Markets Authority (CMA) as members.The publication of these recommendations and the JROC’s roadmap...

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  05.05.2023

  United Kingdom

  FCA confirms changes to UK equity markets transparency regime and finalises im­ple­me­n­ta­tion timetable

  In PS23/4: Improving Equity Secondary Markets, the Financial Conduct Authority (FCA) has confirmed a range of targeted changes to the UK’s post-trade transparency regime, pre-trade transparency waivers and tick size regime for equity instruments that it consulted on in July 2022. The introduction of the new designated reporter (DR) regime will also affect trading in non-equity instruments. The FCA also provides an update on potential further reforms to operational resilience standards for trading venues and the retail service provider model. Firms will be pleased to see that the FCA has listened...

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