Page 19 - Implementing Decision News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Implementation of New Standard Contractual Clauses Friday, March 5, 2021 On 12 November 2020, the European Commission (Commission) published a draft Implementing Decision on standard contractual clauses for the transfer of personal data to third countries pursuant to the EU General Data Protection Regulation (GDPR) along with its draft set of new standard contractual clauses (the New SCCs). Background: Restricted Transfers Under GDPR The GDPR primarily applies to controllers and processors located in the European Economic Area (EEA), with some exceptions. Individuals risk losing pro...

SPE14120 - Specific rules and processes relating to Outward Processing: legal basis for transition from paper INF to electronic INF data elements (NI ONLY) You should check the other guidance available on GOV.UK from HMRC as Brexit updates to those pages are being prioritised before manuals. Notes: From  01st June 2020 UK trader must use the EU Customs Trader Portal to submit INFs for customs special procedures https://www.gov.uk/guidance/using-customs-special-procedures Article 23 (4) of the TDA (Transition document for UCC) allows for OP EX/IM (as defined in DA Article 1(28)) to use ‘...

On 27 January 2021, the European Commission adopted an equivalence decision 1 determining that the legal and supervisory arrangements applicable to US central counterparties (CCPs) registered with the Securities and Exchange Commission (SEC) as “covered clearing agencies” (CCAs), are equivalent to the requirements in Title IV of the European Market Infrastructure Regulation (EMIR). 2 The equivalence decision applies in relation to transactions in securities and derivative contracts that are based on a single security, loan or a narrow-based group or index of securities (“security-based ...

CCP Recovery and Resolution Regulation BMR: Council of EU text of proposed amending Regulation to address benchmark cessation risks and exempt certain third-country FX benchmarks CSDR: Delegated Regulation on RTS on settlement discipline postponed EMIR: European Commission adopts Delegated Regulation on rules of procedure for penalties imposed on third-country CCPs EMIR: Implementing Decision on equivalence of US SEC regime EMIR: European Commission adopts Delegated Regulation on procedure for penalties imposed on trade repositories EMIR: ESMA updates Q&As SFTR: ESMA updates Q&As on data repo...

Thursday, January 7, 2021 31 December The Brexit Transitional Period (pursuant to which the UK stayed in the Single Market and European Customs Union came to an end. The FCA updated its Brexit webpages to remind firms of the potential impact this will have. 30 December In relation to Brexit, the UK-EU Trade and Cooperation Agreement was signed, which would apply from 1 January 2021. 28 December The Prudential Regulation Authority ("PRA") published a policy statement (PS29/20) on the implementation of the CRD V Directive (EU/2019/878) (" CRD V"). 24 December In relation to Br...