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ECB and Eurosystem launch the digital euro project
Posted by Dennis Kunschke, Ricardo Plasencia and Anna Maria Agresti on 22 July 2021On 14 July, the European Central Bank announced that the Governing Council of the ECB has decided to launch the investigation phase of a digital euro project. The President of the Eurogroup expressed his full support for the project.
FCA publishes Business Plan 2021/22
Posted by Tony Katz, Michael McKee, Sophie Lessar and Katie O'Hara on 19 July 2021The FCA published its Business Plan for 2021/22 on 15 July setting out its key priorities and objectives for the coming year.
Cryptos, DeFi, NFTs, and now tokenised equities, are challenging traditional exchanges
Posted by Team Blockchain on 19 July 2021Historically, digital exchanges were established by newcomers such as Binance, Coinbase and FTX. However, there is a growing realisation that Blockchain technology and digital exchanges which can trade digital assets 24/7 offer institutions more transparency, greater efficiency, and potentially stronger compliance tools, so it’s of no surprise that some of the newer digital exchanges enjoy far greater valuations than many of the more established players.
The rise of crypto funds and the services required
Posted by Team Blockchain on 19 July 2021As interest in cryptos increases, there are now over 830 funds invested in crypto assets. We look at the difference between closed and opened funds and some of the firms which offer custody and administration services to those looking to establish crypto funds.
FCA to strengthen financial promotions rules for high-risk investments
Posted by Tony Katz and Puesan Lam on 15 July 2021The FCA is considering what changes it should make to its financial promotion rules to help retail investors make more effective decisions.
Credit Servicing Directive update: where are we now and what’s next?
Posted by Eimear O'Brien, Eileen Johnston and Bella Chan on 15 July 2021On 7 June 2021, the European Parliament has announced that political agreement in trialogue has been reached with the EU Council on the proposed Directive on credit servicing. The provisionally-agreed text of the proposed Directive can be found here.
EBA starts consultation process for NPL transaction data templates
Posted by Conor Houlihan and Mike Danielewsky on 14 July 2021DLA Piper’s Portfolio Solutions Group has started its internal review process on EBA’s consultation process for NPL transaction data templates (EBA/DP/2021/02).
UK Regulators set out expectations for Diversity & Inclusion in the Financial Sector
Posted by Michael McKee, Bryony Widdup and Chris Whittaker on 8 July 2021On 7 July 2021, three UK regulators (the Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) and the Bank of England) published Discussion Paper 21/2: Diversity and inclusion in the financial sector – working together to drive change (DP 21/2).
and then 