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Recent regulatory developments of interest to financial institutions and markets. Includes updates from the UK FCA, the European Commission and the ESMA, among others. Also check our Related Materials links.
Contents
EU SRR: ESMA COVID-19 temporary notification threshold
Mass-marketing of speculative illiquid securities: FCA PS20/15 confirms permanent ban
Cryptoasset businesses: FCA temporary registration regime
UK MiFIR transparency regime: FCA update for end of transition period
MiFIR: Implementing Decision amending earlier Decision recognising certain Singapore derivatives trading venues
MiFID: European Commission adopts Delegated Regulation on thresholds for weekly position reporting
Introduction
In contrast to the United Kingdom, which approved its first COVID-19 vaccine on 2 December 2020 and subsequently began administering it on 8 December 2020, Belgium is following the lead of the European Commission and the European Medicines Agency (EMA) with respect to its COVID-19 vaccine strategy. The European Commission, on behalf of EU member states, has already concluded six advance purchase agreements with vaccine suppliers for a potential total of almost 2 billion doses. Belgium s share presently amounts to a total of 22.4 million vaccines. Purchasing and administering the first vaccine will kick off in the 2020 Christmas holiday period, given that the first vaccine was only very recently demonstrated to be safe and effective and was granted a conditional marketing authorisation by the European Commission.
Introduction
In our October 2020 advisory, we highlighted the
uncertainty in respect of data transfers between the EU and UK from
the end of the Brexit transition period on 31 December 2020 (the
Transition End Date ).
Against this backdrop, there have been a number of developments
in recent weeks with regard to the obligations of EU-based
organisations transferring data to third countries. These
developments include the publication of new draft measures from the
European Data Protection Board (the
EDPB ) and the EU Commission which
should be considered in tandem and are detailed below.
Background
The Court of Justice of the European Union (the