On 8 February 2017, IOSCO published a report on the evolution of financial technologies and its intersection with securities markets regulation.
Many definitions of FinTech have been provided in the last year or so. IOSCO distinguishes two areas within the FinTech phenomenon:
[Newsflash n. 24]
With recent Communication of 7 February 2017, Consob has issued a warning to the market concerning the marketing of contract for difference (CFD), rolling spot forex and binary options.
In light of the increasing dissemination of such speculative forms of investment, the authority has raised the level of awareness of these products alerting […]
On 12 January 2017, the European Securities and Markets Authority (ESMA) issued an Opinion calling for consistent application of the product intervention powers under the Markets in Financial Instruments Regulation (MiFIR).
From 3 January 2018, ESMA and NCAs will have the power to temporarily prohibit or restrict investment firm’s marketing, distribution or sale of:
On 20 December 2016, the Permanent Representatives Committee approved, on behalf of the Council, an agreement with the European Parliament on prospectuses for the issuing and offering of securities.
“This regulation will help companies gain access to European capital markets by reducing some of the administrative formalities”, said Peter Kažimír, Slovak minister for finance and president of […]
The European Securities and Markets Authority (ESMA) has added new Q&As to its Questions and Answers (Q&A) document on the implementation of investor protection topics under the Market in Financial Instruments Directive and Regulation (MiFID II/ MiFIR).
This Q&A provides clarifications on the following topics:
On 14 December 2016, Consob published two Communications about its determination to comply with the ESMA Guidelines on Market Abuse Regulation (“MAR”) dated 13 July 2016.
The first Communication (n. 0110351 of 14 December 2016) concerns ESMA Guidelines 2016/1477 on persons receiving market soundings (“Market Sounding Receivers” or “MSR”), which will […]
[Newsflash n. 20]
EU Parliament approves 1-year delay
On 1st December 2016, the European Parliament voted to support a 1-year delay of the implementation of the Regulation (EU) No. 1286/2014 on key information documents for packaged retail and insurance-based investment products (PRIIPs) (“PRIIPs Regulation” or “Regulation”).
The application of the long debated obligation of investment companies to to […]