FinBrief is DLA Piper's global hub for updates and discussion on the legal issues important to finance and markets and their regulation. Subscribe to updates here.
You have successfully subscribed to the FinBrief mailer.
On 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.
The FCA published its Business Plan for 2021/22 on 15 July setting out its key priorities and objectives for the coming year.
Historically, 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.
As 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.
The FCA is considering what changes it should make to its financial promotion rules to help retail investors make more effective decisions.
On 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.
DLA 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).
On 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).