Recent UK and EU regulatory developments of interest to financial institutions and markets.
Contents:
UK Money Markets Code updated by BoE
UK Listing Review: government response
UK EMIR: trade association letter on use of EEA UCITS as collateral
MiFID: European Commission adopts Delegated Regulation correcting MiFID Delegated Regulation (EU) 2017/565
EMIR and SFTR: ESMA reports on quality of data published
LIBOR transition: FMSB case studies for conduct risk in back book transition
Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021
The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (SI 2021/494) have been published, together with an explanatory memorandum.
The Regulations, made under section 8 of the European Union (Withdrawal) Act 2018, amend primary and secondary legislation, and parts of retained EU law, to address deficiencies arising from the withdrawal of the UK from the EU. They amend UK financial services law to reflect the creation of a UK Emissions Trading Scheme (ETS). Specifically, the Regulations are concerned with amendments which govern access to a UK ETS access platform, what is required of an auction platform and the auctioning and trading of emissions allowances as financial instruments.