Simon Lovegrove

London

Columnist at Regulation Tomorrow

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Articles

FCA - FG25/2 ‘Guidance for insolvency practitioners on how to approach regulated firms’

2 weeks ago | openlegalblogarchive.org | Simon Lovegrove |Anita Edwards

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FCA annual work programme 2025/26

1 month ago | openlegalblogarchive.org | Simon Lovegrove

On 8 April 2025, the Financial Conduct Authority (FCA) published its annual work programme 2025/26. The work programme sets out what the FCA intends to deliver in 2025/26 and focuses on four strategic priorities:A smarter regulator: more efficient and effective. Supporting growth. Helping consumers navigate their financial lives. Fighting financial crime.
ESMA consults on clearing thresholds under EMIR 3

1 month ago | openlegalblogarchive.org | Simon Lovegrove |Anna Carrier

On 8 April 2025, the European Securities and Markets Authority (ESMA) issued a consultation paper setting out draft regulatory technical standards (RTS) amending the RTS on the clearing thresholds under the European Markets Infrastructure Regulation (EMIR). BackgroundRegulation (EU) 2024/2987 amended EMIR and in particular modified the clearing thresholds regime.
BoE response to discussion paper on reviewing access to RTGS accounts for settlement

1 month ago | openlegalblogarchive.org | Simon Lovegrove

On 8 April 2025, the Bank of England (BoE) published its response following its discussion paper on reviewing access to Real-Time Gross Settlement (RTGS) accounts for settlement.
ESMA consults on rules for external reviewers of European Green Bonds

1 month ago | openlegalblogarchive.org | Simon Lovegrove |Nikolai de Koning

On 7 April 2025, the European Securities and Markets Authority (ESMA) published its second consultation paper on draft technical standards under the Regulation on European Green Bonds (EuGB Regulation). The EuGB Regulation requires ESMA to develop a series of technical standards on external reviewers. These have been developed in two packages. The first ESMA consultation paper was published on 26 March 2024 and a final report followed in February 2025.
FCA CP25/7: FCA regulated fees and levies: rates proposals for 2025/26

1 month ago | openlegalblogarchive.org | Simon Lovegrove

On 8 April 2025, the Financial Conduct Authority (FCA) published Consultation Paper 25/7: FCA regulated fees and levies: rates proposals for 2025/26 (CP25/7). CP25/7 is the FCA’s annual consultation on rules that enable it to raise regulatory fees and levies this year and collect certain levies on behalf of government departments. Table 1.1 (page 5) in CP25/7 sets out the fee-payers likely to be affected by each chapter. Next stepsThe deadline for comments on CP25/7 is 13 May 2025.
EBA’s annual assessment of banks’ internal approaches for the calculation of capital requirements

1 month ago | openlegalblogarchive.org | Michael Born |Simon Lovegrove

On 4 April 2025, the European Banking Authority (EBA) published its 2024 reports on the annual market and credit risk benchmarking exercises. The reports summarise the conclusions drawn from a hypothetical portfolio exercise conducted by the EBA during 2023/24. The exercise was performed on a sample of 43 European banks from 13 jurisdictions. For the first time, the EBA has released a specific report on the fundamental review of the trading book Alternative Standardised Approach.
SRB consults on expectations in valuation capabilities

1 month ago | openlegalblogarchive.org | Michael Born |Simon Lovegrove

On 2 April 2025, the Single Resolution Board (SRB) issued a public consultation on expectations on valuation capabilities. The consultation is part of the SRB’s engagement with industry in order to achieve its mandate and deliver on the Single Resolution Mechanism Vision 2028 strategy’s focus on improving crisis readiness.
ESMA clarifies some aspects of the CTP for bonds

1 month ago | openlegalblogarchive.org | Nikolai de Koning |Simon Lovegrove

On 2 April 2025, the European Securities and Markets Authority (ESMA) issued a short press release clarifying certain aspects of the Consolidated Tape Provider (CTP) for bonds. In the press release ESMA provides clarification on the:Timing of the entry into force and application of the delegated acts related to CTP and the transparency regime.
Updated AFME MiFID Implementation Guide

1 month ago | openlegalblogarchive.org | Simon Lovegrove

On 2 April 2025, the Association for Financial Markets in Europe (AFME) published an updated version of its MiFID II / MiFIR implementation guide for firms operating in wholesale secondary markets. The guide provides a holistic yet detailed overview of the state of play and key implementation pain points for AFME members, which are sell-side firms operating in wholesale secondary markets.