This Practice Note provides an overview of the key risks for consumers from cryptoassets, the current protections available and potential improvements that can be made to the regulatory regime.
The scope of the recast Markets in Financial Instruments Directive (Directive 2014/65/EU) (MiFID II), which came into effect on 3 January 2018, includes a range of commodities firms that were excluded from the original Markets in Financial Instruments Directive (Directive 2004/39/EC) (MiFID I). Commodities firms face a tougher task if they wish to avoid being regulated under the MiFID II regime. This Practice Note focuses on the commodities exemptions in MiFID II, in particular the revised ‘ancillary activity’ exemption in Article 2(1)(j), as further detailed in regulatory technical standards.
This Practice Note provides an overview of the implementation of the Consumer Credit directive in the UK and will examine the scope of the consumer credit directive; the key changes made by the Consumer Credit Directive and the Financial conduct Authority regime for consumer credit.
This Practice Note sets out and explains the pros and cons of crypto-assets, including lower transaction costs and more efficient payments processing.
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