Events listed in United Kingdom
CP23/32: Improving transparency for bond and derivatives markets
ID 26410
The Financial Conduct Authority (FCA) has issued a consultation paper (CP) as part of the Wholesale Markets Review (WMR) to enhance the transparency regime for bond and derivative markets in the UK. The proposed changes address issues in the current transparency regime which was retained following UK’s exit from the EU, including the following: – (overly) broad scope: Currently, all bonds and derivatives traded ...
Index Linked Treasury Stocks
ID 26408
The Prudential Regulation Authority (PRA) has published a press statement declaring the interest and principal that will be paid to holders of certain index-linked Treasury Stock in July 2024. Both bonds are linked to the Retail Prices Index. Specifically, – holders of the 2 1/2% Index-Linked Treasury Stock 2024 will be paid £4.8288 per £100 nominal of stock on July 17, 2024. The final ...
Russian Oil Services ban
ID 26403
The HM Treasury has published a revised version of its Russian Oil Services Ban industry guidance that was created by the Treasury itself or better its Office of Financial Sanctions Implementation (OFSI) to assist firms in their compliance with implemented sanction measures targeting the Russian Federation. Specifically, the guidance deals with the imposed ban on the import of Russian oil and petroleum (products) and ...
OFSI General Licence – INT/2023/3749168
ID 26402
The UK government has updated its license under the Counter-Terrorism (International Sanctions) (EU Exit) Regulations 2019 (“the CT2 Regulations 2019”) which permits otherwise prohibited (financial) transactions for the purpose of allowing the United Nations and other non-government organisations to provide humanitarian aid in connection with the Israel-Palestinian conflict. Specifically, the license permits the processing of any funds or other economic resources whenever nec ...
CP28/23 – Leverage ratio treatment of omnibus accounts and other minor corrections ...
ID 26397
The Prudential Regulation Authority (PRA) has launched a new consultation (CP28/23) on the exclusion of omnibus account balances from reserve requirements and various minor amendments to the leverage ratio reporting framework. Specifically, the PRA proposes three key measures: (1) Excluding reserves held on omnibus accounts from the leverage ratio calculation: The PRA proposes to exclude reserves held on omnibus accounts from the leverage ratio ...
The Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) (No. ...
ID 26391
The Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) (No. 2) Order 2023 was recently published on the official journal of the UK. The new order primarily focuses on amending the criteria and procedures for classifying individuals as high net worth individuals and self-certified sophisticated investors for purposes of determining their status and permitting eligible investments only, as well as the associated documentation ...
Primary Market Bulletin 46
ID 26386
The Financial Conduct Authority (FCA) has issued a new version of its Primary Market Bulletin, Bulletin #46. This time, the bulletin primarily deals with the FCA’s view on what constitutes inside information pursuant to Article 10 of the Retained Market Abuse Regulation (UK MAR) in relation to ESG stewardship principles – ESG stewardship principles thereby refer to the responsibility of institutional investors and asset ...
Supporting COP outcomes with transition plans
ID 26381
In view of the conclusion of the 28th Conference of the Parties (COP28), the Transition Plan Taskforce (TPT) has published a press statement. In it, the TPT presents the key issues addressed at the COP28 and its own stance on those issues. Thereafter, the conference highlighted the importance of transition plans in addressing climate change. In fact, transition plans are becoming a crucial part ...
The Register of Overseas Entities (Verification and Exceptions) (Amendment) ...
ID 26380
On December 19, 2023, the Register of Overseas Entities (Verification and Exceptions) (Amendment) Regulations 2023 were published on legislation.gov.uk, the official UK platform for the publication of legal texts. To recall, the „Register of Overseas Entities“ was created by the Economic Crime (Transparency and Enforcement) Act 2022 (ECTEA) in an emergency in response to Russia’s invasion of Ukraine. Under the Act, overseas entities wishing ...
The Financial Services and Markets Act 2023 (Consequential Amendments) Regulations ...
ID 26375
The Financial Services and Markets Act 2023 (Consequential Amendments) Regulations 2023 were recently published on legislation.gov.uk, the official journal of the United Kingdom. As noted in the title, the regulations make further consequential amendments to other regulations in an effort to transpose the provisions of the Financial Services and Markets Act 2023 and to repeal or replace EU retained law (REUL) so as to ...