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News

Information for customers of Merchant Optimisation Services and One Stop Money Manager

Information for customers of Merchant Optimisation Services Limited Merchant Optimisation Services Limited (FRN 789824) is authorised and supervised by the Financial Conduct Authority (FCA) to provide payment services under the Payment Services Regulations 2017. However, as of 4 December 2019 it is no longer able to conduct this regulated business because the FCA has imposed a [...]

December 9th, 2019|Comments Off on Information for customers of Merchant Optimisation Services and One Stop Money Manager

EFRAG published its feedback statement to the IASB ED/2019/4 Amendments to IFRS 17

European Financial Reporting Advisory Group (EFRAG) published its final comment letter on the Exposure Draft Amendments to IFRS 17 ('the ED') on 24 September 2019. This feedback statement summarises comments received by EFRAG on its draft comment letter and explains how those comments were considered by EFRAG during its technical discussions leading to the publication of EFRAG's final comment [...]

December 9th, 2019|Comments Off on EFRAG published its feedback statement to the IASB ED/2019/4 Amendments to IFRS 17

EBA updates its guidelines for the reporting of funding plans

The European Banking Authority (EBA) publishes today updated guidelines on harmonised definitions and templates for the reporting of funding plans. The changes include additional details of forecasted market based funding, alignment to FINREP reporting and additional proportionality for small and non-complex credit institutions. This update is the result of the experience gained through the EBA's [...]

December 9th, 2019|Comments Off on EBA updates its guidelines for the reporting of funding plans

EU Derivatives Markets at €735tn

The European Securities and Markets Authority (ESMA) the EU’s securities regulator, today publishes its second Annual Statistical  Report (Report) analysing the European Union’s (EU) derivatives markets.  The Report, based on data submitted under the European Markets and Infrastructure Regulation (EMIR), provides a comprehensive market-level view of the EU’s derivatives markets in 2018, which had a total size of €735tn gross [...]

December 9th, 2019|Comments Off on EU Derivatives Markets at €735tn

ESMA publishes 2nd Annual Report on EMIR penalties and supervisory measures

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published its second annual report regarding supervisory measures carried out and penalties imposed by national competent authorities (NCAs) under the European Market Infrastructure Regulation (EMIR). The Report, covering the period from January to December 2018, focuses on NCAs supervisory measures and enforcement actions, their [...]

December 9th, 2019|Comments Off on ESMA publishes 2nd Annual Report on EMIR penalties and supervisory measures

FCA extends the Senior Managers and Certification Regime to 47,000 firms

The Financial Conduct Authority (FCA) has extended the Senior Managers and Certification Regime (SM&CR) to around 47,000 firms from today, including senior managers and certification staff in those firms. The SM&CR already applies to the banking and insurance sectors and today’s extension is a key step to creating a culture across financial services where individuals [...]

December 9th, 2019|Comments Off on FCA extends the Senior Managers and Certification Regime to 47,000 firms