Brexit: Draft UK EU Withdrawal Agreement

22nd Mar 2018

The Draft UK EU Withdrawal Agreement published on 19 March 2018 contains no mention of the financial services industry whilst confirming that the transitional period will last from Brexit day on 29 March 2019 until 31 December 2020.

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LEIs: GLEIF publishes Entity Legal Forms Code List

6th Dec 2017

The Global Legal Entity Identifier Foundation (GLEIF) has published its first Entity Legal Forms (ELF) Code List, showing more than 1,600 entity legal forms across over 50 jurisdictions. These form the basis of the unique Legal Identity Identifier (LEI), required from 3 January 2018 for any firm subject to MiFID II transaction reporting obligations - otherwise they will not be able to execute a trade on behalf of a client eligible for a LEI and does not have one.

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FX Global Code

31st May 2017

This new Code is relevant to all FX market participants, whether buy-side or sell-side, regardless of ‘product’, including E-Trading Platforms (page 4 provides a guide to the types of entities to which the Code will be relevant – ranging from the treasury operations of family offices to hedge funds and “financial institutions”).

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Mandatory Use of SFC Online Portal

13th Jan 2017

Effective 1 February 2017, all Hong Kong SFC applications, notifications and annual returns filed by Licensed Representatives must be submitted by way of the SFC’s online portal.

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Brexit and its Implications

24th Jun 2016

The votes have been counted and ‘Brexit’ has won the day. The UK electorate has voted 52% to 48% to leave the European Union (EU). What are the implications to financial services?

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