Key Updates and Deadlines

A quick summary of recent publications, consultations or any other relevant NCAs & ESAs initiatives including enforcement actions in the EU, the UK and Switzerland:

November

• 19.11.2024: ESMA publishes its Final Report on the Technical advice for the EC on the CSDR Penalty Mechanism
• 19.11.2024: IOSCO consults on Online trading practices (e.g., imitative, copy, mirror, social). It closes on 20 January 2025
• 19.11.2024: IOSCO consults on Finfluencers (e.g., imitative, copy, mirror, social). It closes on 20 January 2025
• 15.11.2024: ESAs announce the timeline to collect information for the designation of critical ICT third-party providers under DORA – Decision: milestones 31.01.2025, 31.03.2025 and 30.04.2025
• 13.11.2024: FINMA publishes its Strategic goals for the period 2025/2028
• 12.11.2024: ESMA publishes the October Newsletter
• 12.11.2024: UK supervisory authorities (BOE, FCA, PRA) issue a Supervisory Statement on Operational resilience: Critical third parties to the UK financial sector
• 12.11.2024: UK supervisory authorities (BOE, FCA, PRA) publish new rules in relation to operational resilience and critical third parties – PS24/16
• 05.11.2024: FCA publishes new rules in respect of bond and derivatives transparency requirements – PS24/14. The new rules enter into force 1 December 2025.

October

• 30.10.2024: ESAs publish their third annual Report on disclosures of principal adverse impacts under SFDR.
• 28.10.2024: ESMA consults on amendments to MiFID II research regime following changes introduced by the Listing Act. Consultation closes 28 January 2025.
• 28.10.2024: ESMA consults on draft Technical advice under the Prospectus Regulation (e.g., contents and format of a full prospectus, information for non-equity securities with ESG features, criteria for prospectuses approval) and a Call for Evidence on Prospectus Liability including in respect of crypto-assets with the aim of facilitating access to capital markets. They close on 31 December 2024.
• 28.10.2024: CSSF publishes the October Newsletter
• 24.10.2024: ESMA has issued its annual Common Enforcement Priorities statement for 2024 corporate reporting (e.g., IFRS, Sustainability statements, European Single Electronic Format digital reporting).
• 23.10.2024: CSSF thematic review of the delegation of portfolio management function by investment fund managers – Feedback report
• 16.10.2024: ESMA updates guidance under the MiFIR Review: it has updated the Q&As on transparency and market structure issues, the Manual on post-trade transparency and the Opinion on the assessment of pre-trade waivers.
• 11.10.2024: ESMA has added new QAs in respect of AIFMD (966, 1033), MiCA (2295) and MiFID II (2304)
• 11.10.2024: ESMA publishes first consolidated Report on sanctions. Highest number of administrative measures and sanctions were imposed under MAR and MiFID II.
• 08.10.2024: AMF amends its Guidance on how to develop a Programme of activities when seeking to be authorised as a Collective Investment Manager
• 07.10.2024: ESAs have announced their Work Programme for 2025
• 07.10.2024: CSSF publishes the results if the DORA readiness survey carried-out in September
• 03.10.2024: ESMA consults under MIFIR Review – RTS for the reporting of transactions (RTS 22) and RTS for the maintenance of data relating to orders in financial instruments (RTS 24). They close on 3 January 2025.
• 02.10.2024: ESMA publishes the September Newsletter

September

• 30.09.2024: CSSF publishes the September Newsletter
• 25.09.2024: FCA consults on rules and guidance for the interim and end state stages of the proposed safeguarding regime in relation to EMR and PSR. It closes on 17 December 2025.
• 19.09.2024: CSSF publishes its 2023 Annual Report
• 10.09.2024: Criminal prosecution – FCA charges first individual with running a network of illegal crypto ATMs

A high level summary of new regulations and/or relevant guidelines/circulars can be found on our page: new regulations and regulatory initiatives