Regulatory Alerts2017-07-03
Added · Updated
CP17/19: Markets in Financial Instruments Directive II Implementation – Consultation Paper VI
The Financial Conduct Authority proposes extending Financial Services Compensation Scheme (FSCS) coverage to recognised investment exchanges operating multilateral or organised trading facilities, imposing a fixed annual base cost levy of £1,000 per exchange and assigning them to funding class D2 for specific compensation costs. The document also seeks comments on final proposed amendments to the Decision Procedure and Penalties Manual and Enforcement Guide to align with Treasury regulations implementing MiFID II, including powers to require restitution and sanction senior management. Additionally, it proposes consequential technical changes to the Prospectus Rules and Glossary to align the definition of qualified investor with section 86(7) of the Financial Services and Markets Act 2000, effective from 3 January 2018.
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