5/22/2026 10:05:18 AM MiFID II: Commission adopts Delegated Regulation establishing an EU code of conduct for issuer-sponsored research By Karen Cooper Stephen Clipsham The European Commission has adopted its Delegated Regulation supplementing MiFID II with regards to the Regulatory Technical Standards...
5/15/2026 9:13:02 AM ESMA launches call for evidence on the structure of European equity markets By Karen Cooper Stephen Clipsham ESMA has launched a call for evidence on the market structure of European equity markets as part of its commitment to enhancing...
5/13/2026 11:58:58 AM MiFID II: ESMA provides clarification on the Trading Venue Perimeter By Karen Cooper Stephen Clipsham ESMA has updated its Opinion on the Trading Venue Perimeter providing clarification as to when certain systems qualify as multilateral...
5/7/2026 2:03:14 PM ESMA provides interim update on transaction reporting reform By Karen Cooper Stephen Clipsham As part of its broader simplification and burden reduction agenda, ESMA has published its interim report on its call for evidence on a...
5/7/2026 11:08:32 AM ESMA encourages regulatory supervisors to adopt a ‘proportionate approach’ to firms implementing MiFID II sustainability requirements By Stephen Clipsham ESMA encourages regulatory competent authorities to adopt a ‘proportionate supervisory approach’ to firms implementing their MiFID II...
5/6/2026 9:41:27 AM EU DGSD reform brings more “bank‑style” protection for client funds – what it means for firms and their bank partners By Marius Raetz Dr Clemens Boehm Client funds have always sat in a slightly awkward place in EU financial regulation. Sectoral rules for payment institutions (PSD 2),...
4/16/2026 2:24:40 PM EU MiFID II/MiFIR Review: Commission adopts RTS on order execution policies after year-long hiatus By Karen Cooper The European Commission has adopted the new RTS on investment firms’ order execution policies, almost a year to the day after the...
2/27/2026 12:42:52 PM MiFID II: ESMA issues supervisory briefing on algorithmic trading By Stephen Clipsham The European Securities and Markets Authority (ESMA) has published a supervisory briefing providing guidance to investment firms and...
2/6/2026 10:58:00 AM Financial Regulation Legal Outlook 2026 By Stephen Clipsham Our Financial Regulation Outlook 2026 (now updated to January 2026) explores the key regulatory developments that we expect to see in the...
1/15/2026 5:12:21 PM UK/EU Wholesale Markets Reform Timeline - January 2026 update By Karen Cooper Stephen Clipsham View our UK/EU Wholesale Markets Reform timeline which has been updated to reflect recent developments. The timeline includes links to...
1/6/2026 1:55:47 PM FCA finalises new ancillary activities tests for application from January 2027 By Karen Cooper Stephen Clipsham The FCA has published its policy statement (PS25/24) on the ancillary activities test which firms trading in commodity derivatives,...
12/17/2025 6:12:02 PM ESMA final report on derivatives transparency, package orders and the EU derivatives CTP final piece in the EU MiFIR Review puzzle By Karen Cooper Stephen Clipsham ESMA has published its Final Report on transparency for derivatives, package orders and input/output data for the EU OTC derivatives...
12/12/2025 8:07:25 PM Target Support is coming – FCA publishes near final rules and guidance By Sara Cody The FCA has published near final rules and guidance for the delivery of targeted support to retail consumers. These are designed to be...
12/11/2025 3:40:34 PM FCA proposes significant changes to client cat rules and rationalises conflicts of interest rules By Sara Cody Karen Cooper Raza Naeem Clare Whittle +1 more... Show less The FCA has published a consultation (FCA CP25/36) outlining proposed changes to the UK client categorisation regime. A link to our full...
12/9/2025 11:54:29 AM Suite of FCA measures to boost UK investment culture published By Sara Cody Raza Naeem Clare Whittle James Morris Elliot Jack +2 more... Show less The FCA has published a package of four papers and statements, aimed at reinforcing wholesale markets and empowering retail investors....
8/28/2025 3:57:01 PM FCA finds shortcomings in algorithmic trading controls By Simon Treacy Stephen Clipsham The Financial Conduct Authority has found significant variation in how firms comply with their algorithmic trading control obligations....