Investment Services

Better regulated and transparent financial markets SUMMARY OF: Directive 2014/65/EU on markets in financial instruments It aims at making financial markets in the European Union (EU) more robust and transparent. It creates a new legal framework that better regulates trading activities on financial markets and enhances investor protection. The new rules, called ‘MiFID 2’, revise […]

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Prospectus and Listing

Prospectus to be published when securities are issued and offered to the public Regulation (EU) 2017/1129 — securities prospectus It aims to help companies, especially SMEs, access different forms of finance in the EU. It does so by simplifying and streamlining the rules and procedures they must apply when drawing up, securing approval and distributing […]

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Market Abuse

Preventing market abuse in financial markets Regulation (EU) No 596/2014 on market abuse The market abuse regulation (MAR) seeks to ensure that European Union (EU) regulation keeps pace with market developments to combat market abuse on financial markets as well as across commodity and related derivative markets (i.e. markets trading primary products such as gold, […]

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Payments

Single Euro Payments Area Regulation Regulation (EU) No 260/2012 — technical and business requirements for credit transfers and direct debits in euro It sets out the rules and technical requirements for credit transfers and direct debit transactions in euro within the single euro payments area (SEPA). KEY POINTS National accounts used for credit transfers and […]

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Consumer Credit

Consumer credit agreements Directive 2008/48/EC on consumer credit agreements It harmonises EU rules regarding credit granted to consumers who borrow to finance purchases of goods and services (holidays, goods, new cars, etc.) It aims to open up the EU’s consumer loan market, whilst improving the transparency of contract terms and the level of consumer protection. […]

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Bank Accounts Switching and Guarantee

Opening/switching bank accounts and information on fees Directive 2014/92/EU — comparable and transparent fees and rules for all payment accounts and payment account switching It aims to tackle 3 main issues: access to basic payment accounts*, transparency and comparability of payment account fees, and bank account switching. It has applied since 17 September 2014. EU […]

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UCITS

Strengthening global competitiveness of EU investment funds Directive 2009/65/EC — rules relating to undertakings for collective investment in transferable securities (UCITS) It lays down uniform rules on investment funds, allowing the cross-border offer of investment funds regulated at EU level. It sets out the EU’s main regulations governing UCITS*. KEY POINTS The main aims of […]

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Post Trade Fin Services EU Guidance 2021

EUROPEAN COMMISSION DIRECTORATE-GENERAL FOR FINANCIAL STABILITY, FINANCIAL SERVICES AND CAPITAL MARKETS UNION Brussels, 14 July 2020 REV1 – replaces the notice dated 8 February 2018 NOTICE TO STAKEHOLDERS WITHDRAWAL OF THE UNITED KINGDOM AND EU RULES IN THE FIELD OF POST-TRADE FINANCIAL SERVICES Since 1 February 2020, the United Kingdom has withdrawn from the European […]

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Consumer Finance and Payments

Opening/switching bank accounts and information on fees Directive 2014/92/EU — comparable and transparent fees and rules for all payment accounts and payment account switching It aims to tackle 3 main issues: access to basic payment accounts*, transparency and comparability of payment account fees, and bank account switching. Access to bank accounts The law says that […]

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European Pension Body

European Insurance and Occupational Pensions Authority (EIOPA) The 2008 financial crisis brought to light shortcomings in European Union (EU) financial supervision. Based in Frankfurt, the European Insurance and Occupational Pensions Authority (EIOPA) was created in 2010 to prevent the risks of destabilising the insurance sector. Regulation (EU) No 1094/2010 of the European Parliament and of […]

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Asset Management EU Guidance 2021

EUROPEAN COMMISSION DIRECTORATE-GENERAL FOR FINANCIAL STABILITY, FINANCIAL SERVICES AND CAPITAL MARKETS UNION Brussels, 7 July 2020 REV2 – replaces the notice (REV1) dated 8 February 2018 NOTICE TO STAKEHOLDERS WITHDRAWAL OF THE UNITED KINGDOM AND EU RULES IN THE FIELD OF ASSET MANAGEMENT Since 1 February 2020, the United Kingdom has withdrawn from the European […]

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Travel Insurance 2021 UK Guidance

Guidance Foreign travel insurance Wherever you’re travelling, it’s important to take out appropriate travel insurance before you go. Published 22 March 2013 Last updated 20 December 2020 — see all updates From: Foreign, Commonwealth & Development Office Contents COVID-19 travel guidance Travel to the EU Overview of travel insurance Choosing a travel insurance policy What your […]

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Money Laundering 2021 UK Guidance

EXPLANATORY MEMORANDUM TO THE MONEY LAUNDERING AND TERRORIST FINANCING (AMENDMENT) (EU EXIT) REGULATIONS 2020 2020 No. [XXXX] 1. Introduction 1.1 This explanatory memorandum has been prepared by HM Treasury and is laid before Parliament by Act. 1.2 This memorandum contains information for the Sifting Committees. 2. Purpose of the instrument 2.1 These Regulations update the existing United […]

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Asset Management 2021 UK Guidance

Brussels, 7 July 2020 REV2 – replaces the notice (REV1) dated 8 February 2018 NOTICE TO STAKEHOLDERS WITHDRAWAL OF THE UNITED KINGDOM AND EU RULES IN THE FIELD OF ASSET MANAGEMENT Since 1 February 2020, the United Kingdom has withdrawn from the European Union and has become a “third country”.1 The Withdrawal Agreement2 provides for […]

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