WMA Bulletin 10th August 2016
What's going on in our industry? European & Securities Markets Authority (ESMA) Feedback on Transaction Reporting WMA have recently ascertained from FCA that ESMA is expected to publish the guidelines and feedback to its Consultation Paper on Transaction Reporting at the end of September/beginning of October 2016. Once it is published we will review with the relevant working group and provide appropriate analysis for the wider WMA membership.
Transfers and Re-registrations Industry Stakeholder Event: 23rd August 2016 As part of the work of the cross-industry working group (which is due to report back to FCA in September with proposals for how transfers and re-registrations can be improved), an industry stakeholder event will take place at the Association of British Insurers (ABI). The event will give attendees the opportunity to hear directly from the FCA about the nature of its concerns and also enable the Working Group to inform attendees of the work it has undertaken to scope the problem and hear feedback from stakeholders on the appropriate way forward. WMA member firms can register here for this free event.
Useful Links on Data Transfers and Data Protection Regulation Members may find the below two links of interest:
The first is an article on transferring data to the US – after the European Court of Justice quashed the existing “safe harbour” agreements: https://iconewsblog.wordpress.com/2016/08/04/the-what-why-and-how-of-transferring-data-tothe-usa/
The second is from the Information Commissioner's Office providing an overview of the General Data Protection Regulation: https://ico.org.uk/media/for-organisations/data-protection-reform/overview-of-the-gdpr-1-0.pdf