On Apr. 11, EC issued approach to strengthen consumer rights. Proposed changes to EU law that strengthen EU consumer rights and enforcement. More transparency in online marketplace, and in search results on online platform. Consumer Online Rights Inform consumer on whether they are buying from trade or from a private person. Consumer to be clearly…
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FDIC Remove OTS Regulations
On Apr. 2, FDIC removed and replaced OTS regulations of thrifts. Final rules remove security procedures, and consumer protection in sale of insurance. Amended FDIC regulation to make removals applicable to State savings associations. Related to Dodd-Frank induced reorganization of rules, conform to FDIC rules, term. Minimum Security The requirements inherited from OTS in 2011,…
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UK FCA Insider Dealing Control
On Mar. 27, FCA proposed financial crime guide on insider trading. FCA has launched consultation on change to the financial crime guide for firms. Crime captures a range of offenses, including insider dealing and manipulation. However, guide does not currently cover countering the risks of insider dealing. Aims and Scope Guide provides practical assistance, information…
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ESMA Market Abuse FAQs 2018
On Mar. 23, ESMA updated its FAQs on implementation of MAR. Follows Dec. 2017, ESMA updated FAQs on market abuse regulations. Updated FAQs ESMA has approved new update to existing MAR FAQ on Pillar 2 requirements and the obligation to disclose inside information, in order to cover the MREL exercise. MRELs must ensure bank has…
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FR CNIL Transitioning to GDPR
On Feb. 23, FR CNIL updated on new processes for data protection. Cited imminent entry into force of the European Data Protection Regulation (GDPR). Implement new compliance tool, certification, and gradually ending labeling activity. Background European Regulation and draft law currently under discussion invite data protection authorities to develop protection certification mechanisms to assist data…
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CBOE AML Compliance Program
On Feb. 14, CBOE issued AML due diligence for permit holders. Follows 2016 FinCEN rules, on customer due diligence requirements. Require trading permit holders be in compliance with CDD rules by May 11, 2018. Must have written AML program, designed to achieve compliance with CDD rules. Application Where TPH is not a FINRA member, and…
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