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News

DJS (UK) Limited enters administration

On 5 December, DJS (UK) Limited, trading as PiggyBank Zero, PiggyBank Instalment loans, PiggyBank Loans, Aeroplane Loans, PiggyBank Guarantor Loans, was placed into administration. Shane Biddlecombe and Gordon Johnston at HJS Recovery UK Limited were appointed as joint administrators. DJS (UK) Limited is a high cost short term lender, otherwise known as a payday lender, [...]

December 9th, 2019|Comments Off on DJS (UK) Limited enters administration

Pub merger to be cleared if local concerns overcome

Stonegate Pub Company’s proposed purchase of Ei Group does not raise UK-wide competition concerns but could damage competition in 51 local areas. The Competition and Markets Authority (CMA) has been investigating the anticipated £3 billion deal between the 2 pub groups. Together, they operate close to 5,000 pubs across the UK, including popular chains such [...]

December 6th, 2019|Comments Off on Pub merger to be cleared if local concerns overcome

CMA accepts price caps on West Coast Rail lines

Train passengers travelling on certain routes between Preston and Scotland will benefit from capped fares following a Competition and Markets Authority (CMA) investigation. As part of its mergers work, the CMA examines whether competition issues arise from the awarding of new rail franchises and the CMA has been investigating the award of the West Coast [...]

December 6th, 2019|Comments Off on CMA accepts price caps on West Coast Rail lines

MIFIR Data Reporting Q&A update

The European Securities and Markets Authority (ESMA) has updated its Questions and Answers on data reporting under the Market in Financial Instruments Regulation (MiFIR). The Q&A provide clarifications in relation to the requirements for submission of reference data and transactions under MiFIR. In particular, the Q&As relate to the reporting of reference rates not included in RTS [...]

December 6th, 2019|Comments Off on MIFIR Data Reporting Q&A update

ESMA updates its Q&As on MIFID II and MIFIR Transparency and Market Structures Topics

The European Securities and Markets Authority (ESMA) has updated its Questions and Answers regarding market structures and transparency issues under the Market in Financial Instruments Directive (MiFID II) and Regulation (MiFIR). The new Q&As provide clarification on the following topics: Conversion of LIS/SSTI thresholds in lots; Member preferencing and pre-arranged transactions; and Scope of Commission [...]

December 5th, 2019|Comments Off on ESMA updates its Q&As on MIFID II and MIFIR Transparency and Market Structures Topics

The view from the regulator on Operational Resilience

Speech by Megan Butler, Executive Director of Supervision: Investment, Wholesale and Specialist, delivered at TISA’s Operational Resilience Forum, London. Highlights: On 5 December 2019, the FCA, PRA and Bank of England published their joint Consultation Papers on Operational Resilience These proposals develop and expand on the ideas set out in their 2018 Discussion Paper The proposals [...]

December 5th, 2019|Comments Off on The view from the regulator on Operational Resilience