02/05/2021
The three European Supervisory Authorities publish Final Report and draft RTS on disclosures under SFDR
The ESAs have updated the list of indicators for principal adverse impacts.
Legal, Regulation & Compliance
02/05/2021
Further commentary on the new EU-UK Trade and Cooperation Agreement
Note that the landing page of our Beyond Brexit Legal Guide is being updated so that the relevant sections also have links to relevant updates from our Beyond Brexit blog.
02/05/2021
European Supervisory Authorities publish Final Report and draft RTS on sustainability disclosures
The ESAs plan to issue a public supervisory statement before the application date of SFDR in order to achieve an effective and consistent application of the SFDR’s requirements and consistent national supervision of the SFDR.
02/05/2021
EU consults on digital levy
The new levy is not intended to interfere with the ongoing work at the G20 and Organisation for Economic-Cooperation and Development (OECD) level on a reform of the international corporate tax framework, according to the Commission.
02/05/2021
Financial Regulation: Daily Update
The consultation paper also seeks view on the UK's intended approach to implementation of certain areas of the Basel 3 standards, and on the scope of application of the resolution regime for FCA-regulated investment firms where HMT is not devolving r
02/05/2021
EIOPA’s Board of Supervisors agrees on changes to the PRIIPs key information document
In December 2020, the Commission invited the ESAs to submit an RTS to amend the KID within a six week period referring to the need to make urgent amendments to European Commission’s Delegated Regulation (EU) 2017/653.
02/05/2021
CySEC extends the deadline for its Brexit-related Temporary Permissions Regime
Many firms missed the deadline and the extension to the end of February is therefore a welcome development.
02/05/2021
German watchdog orders Goldman Sachs to comply with money laundering rules
People familiar with the matter said that Goldman Sachs had not fully complied with German know-your-customer standards when transferring British customers to Germany.
02/05/2021
EU parliament snubs anti-corruption researchers
A letter sent by the parliament's president at that time claimed itself to be "extremely transparent" and so saw no need to cooperate.
02/05/2021
Differences in rights do not necessarily fracture a class
The scheme provided creditors with four options, each provided a better return than in the event of the Company’s liquidation.
02/05/2021
FCA hit by 80,000 malicious emails every month
This news arrives less than a year after the FCA was criticised for accidentally revealing personal information of about 1,600 people in February 2020.
02/05/2021
Ireland Update: Strategy on Remote Working Strives to Keep Up
The Remote Working Strategy confirms the Government’s intention to legislate for employees to have a right to request remote working.
02/05/2021
FCA report outlines practices firms can consider to reduce failed technology changes
Financial services technology is constantly updated, but when firms implement changes they don’t always go to plan.
02/05/2021
UK directors face new liability demands under major audit reform
Far-reaching overhaul of corporate governance set to be unveiled in long-awaited white paper
02/04/2021
HMRC awards Open Banking contract to Ecospend
Under the new systems, payments will be sent directly from a payer’s bank account, using validated HMRC details to address the problems with fat finger errors.
02/04/2021
Many UK companies report trade hassles from Brexit shift: HSBC
More than a quarter of the companies reporting an impact cited increased time spent on bureaucracy, HSBC said.
02/04/2021
FCA secures interim restitution order against five individuals
The proceedings against the other two defendants continue.
02/04/2021
FCA sets out its approach to international firms
The FCA today published its approach to the authorisation and supervision of international firms.
02/04/2021
Commission disburses €14 billion under SURE to nine Member States
Today's disbursements follow the issuance of the fourth social bond under the EU SURE instrument, which attracted a considerable interest by investors.
02/04/2021
Social network activities and their legal implications in the EU: Defamation and data protection
Moreover, the court held that this particular communication method has the ability to reach an indefinite number of people and regards subjects present on a specific virtual platform for the purpose of constant socialisation.