Legislative Coverage

Protect Your Business

MCB’s regulatory focus will cover the non-exhaustive list of legislation outlined below,

5MLD

Fifth Money Laundering Directive

5MLD amended the Fourth Money Laundering Directive (4MLD) as part of the European Commission's action plan to strengthen the fight against terrorist financing. The legislation takes the form of a minimum harmonising Directive, which means that member states were able to adopt or retain measures that are more stringent than those in MLD5.

AIFMD

Alternative Investment Fund Managers Directive

AIFMD regulates alternative investment fund managers (AIFMs; e.g. managers of hedge, private, and real estate funds). It also regulates the underlying AIFs and their depository service providers, albeit indirectly as it only has jurisdictions over the managers and how they market to their customers.

FSMA 2000

FSMA 2000 provides the framework legislation for the regulation of the UK financial services sector.

Financial Services and Markets Act 2000

DMFSD

Distance Marketing in Financial Services Directive

Applicable whenever financial services are marketed to consumers by means of distance communication. It establishes specific information requirements  ahead of closing a contract, and certain withdrawal rights for the consumers. It also addresses unsolicited communications and tacit renewals

EMD

Establishes the regulatory regime for electronic money (i.e. electronic cash replacements).

Electronic Money Directive

FA 2006

Fraud Act 2006

An Act to make provision for, and in connection with, criminal liability for fraud and obtaining services dishonestly.

GDPR

General Data Protection Regulation

Relates to data controllers (those who collect and own data), data processors (those who work with the data), and their relationship with data subjects (those whose personal data is being stored and processed).

MAR

Market Abuse Regulation

Defines inside information, which is price-sensitive information in relation to financial instruments. It prohibits unlawful disclosure of such information, as well as insider dealing (i.e. dealing on the basis of insider information). it defines and prohibits market manipulation and abuse, and it establishes the regulatory framework, powers, and sanctions with respect to all of the above.

MiFID II

Second Markets in Financial Instruments Directive

The second piece of legislation establishing the requirements in respect of selling, making markets in, and advising on, financial instruments in the European Union (EU).

MiFIR

Markets in Financial Instruments Regulation

MiFIR encompasses the rules and guidelines on execution venues, transaction execution as well as pre- and post-trade transparency

PSD II

The second directive regulating institutions providing payments services in the European Union (EU).

Second Payment Services Directive

UCITSD

The directives establishing a regulatory regime for a certain class of fund companies in the European Union (EU).

Undertakings for Collective Investment in Transferable Securities Directive

EMIR

European Market Infrastructure Regulation

The directive regulating central counterparties and trade repositories, and establishing clearing and reporting requirements.

 

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