Weekly highlights—29 September 2016

Weekly highlights—29 September 2016

Welcome to the weekly Financial Services highlights from the Lexis®PSL Financial Services team for the week ending 29 September 2016.

Financial Conduct Authority updates

FCA publishes Handbook Notice 37

On 23 September 2016 the Financial Conduct Authority (FCA) issued Handbook Notice 37, which includes the Handbook amendments and other material made by the FCA Board under its legislative powers and rules and standard terms made by the Financial Ombudsman Service, as passed at the FCA Board meeting on 23 September 2016 and Financial Ombudsman Service Board meeting on 21 September 2016. It also contains information about other publications relating to the Handbook.

FCA warning over trading with OneCoin

On 26 September 2016, the FCA issued a warning with regard to dealing with OneCoin, which markets itself as ‘a digital currency, based on cryptography’. The FCA stated that OneCoin is not authorised by the FCA and the FCA does not believe it is undertaking any activities that require the FCA’s authorisation. However, the FCA is concerned about the potential risks posed to UK consumers by OneCoin, which is currently being investigated by the City of London Police.

Regulatory architecture

Decision on ECB rules of procedure published in the Official Journal

On 24 September 2016, Decision (EU) 2016/1717 of the European Central Bank (ECB) of 21 September 2016 amending Decision ECB/2004/2 adopting the Rules of Procedure of the ECB (ECB/2016/27) was published in the Official Journal of the EU.

Recovery and Resolution

BRRD financial contracts RTS published in the Official Journal

On 24 September 2016, Commission Delegated Regulation (EU) 2016/1712 of 7 June 2016 supplementing the Bank Recovery and Resolution Directive 2014/59/EU (BRRD) with regard to regulatory technical standards (RTS) specifying a minimum set of information on financial contracts that should be contained in 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.