The European Commission has published a proposal to amend the BMR (the “Legislative Proposal”) so as to ensure that regulators have the tools to guide the transition avoiding contract frustration and financial instability. The FMLC would like to draw attention to certain issues of uncertainty.
The European Commission has launched a public consultation to gather stakeholder views on the possible enhancements to the E.U. anti-money laundering/countering the financing of terrorism framework. The FMLC would like to draw attention to two areas.
In Q3 2020 the European Commission is scheduled to propose a new Digital Finance Strategy/FinTech Action Plan that sets out a number of areas that public policy should focus on in the coming five years. A Consultation designed to gather stakeholders’ views on policies to support digital finance, which will inform that strategy, was published in April 2020.
The FMLC has drafted a response to the Consultation in the form of two complementary reports. Part I comprises comments on the classification of cryptoassets. Part II comprises comments in response to the section of the Consultation dealing with cryptoassets which fall within the E.U. regulatory perimeter.
On 11 October 2019, the European Commission published a public consultation document on the review of the BMR (the “Consultation”). The FMLC has submitted a response
The Bank Recovery and Resolution Directive (2014/59/EU) (the “BRRD”) was amended by Directive (EU) 2019/879 of the European Parliament and of the Council of 20 May 2019 (“BRRD II”), which […]
A substantial volume of financial instruments denominated in the currencies of Members States are currently cleared by central counterparties (“CCPs”), established in, and regulated by, Third Country CCPs on the […]
The FMLC wrote to the European Commission in response to its consultation on the conflict of laws rules for third party effects of transactions in securities and claims (the “Consultation”), […]
On 16 March 2017, members of the Banking Scoping Forum met for the first meeting of 2017. The meeting was Chaired by Jan Putnis of Slaughter and May. On the agenda were […]
The FMLC wrote to the European Commission in response to its Consultation on an effective insolvency framework within the EU, urging the Commission to address issues of divergence in the […]