Weekly highlights—10 August 2017

Weekly highlights—10 August 2017

Welcome to the weekly Financial Services highlights from the Financial Services team for the week ending 10 August 2017.

Financial Conduct Authority updates

FCA updates its policy development page

The Financial Conduct Authority (FCA) updated its policy development page, which provides information on its recent and upcoming publications. The FCA tries to update this page on the first Friday of each month.


ESMA amends guidelines on transaction reporting, order record keeping and clock synchronisation

The European Securities and Markets Authority (ESMA)  issued an updated version of its guidelines on transaction reporting, order record-keeping and clock synchronisation under the Markets in Financial Instruments Directive (MiFID II) (ESMA/2016/1452), first published in October 2016. The updates correct some factual errors, typos and inconsistencies in the technical section, but do not affect substance, policy or the comply or explain timeline.

FCA publishes Q&As on MiFID II commodity derivatives

The FCA published Q&As on commodity derivatives to assist firms with their preparations for MiFID II implementation. The FCA stressed that the guidance is not intended to ‘direct or encourage’ firms towards a specific course of action, and professional advice should be sought on the MiFID II requirements’ application to individual firms, but the regulator says it does reflect the content of Policy Statement 17/14.

FCA updates its MiFID II applications and notifications webpage

The FCA updated its webpage on applications and notifications under MiFID II, in order to clarify that firms will not be required to notify the FCA if they act as a general clearing member. The FCA also added a link to guidance regarding the

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About the author:
Prior to joining LexisNexis in 2016 as a paralegal, Lauren was an adjudicator at the Financial Ombudsman Service. There she resolved consumers’ complaints, and gained knowledge about a wide variety of financial products. Before this she studied Law at Nottingham Trent University.