Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. ...more
26 February -
HM Treasury published a report setting out the findings of the Kalifa Review of UK FinTech.
The Financial Conduct Authority (“FCA”) published Handbook Notice 85, which sets out changes to the FCA Handbook...more
3/2/2021
/ Consultation Papers ,
Coronavirus/COVID-19 ,
EU Benchmark Regulation ,
European Banking Authority (EBA) ,
European Central Bank ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
FinTech ,
HM Treasury ,
MiFID II ,
Prudential Regulation Authority (PRA)
31 December -
The Brexit Transitional Period (pursuant to which the UK stayed in the Single Market and European Customs Union came to an end. The FCA updated its Brexit webpages to remind firms of the potential impact...more
1/11/2021
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Bank Recovery and Resolution Directive (BRRD) ,
Capital Requirements Regulation (CRR) ,
CRD V ,
ESRB ,
ETFs ,
EU ,
European Banking Authority (EBA) ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Action Task Force ,
Financial Stability Board ,
MiFID II ,
Prudential Regulation Authority (PRA) ,
UK ,
UK Brexit
30 November -
The Prudential Regulation Authority (“PRA”) published a statement about its forthcoming policy statement on implementing the CRD V Directive ((EU) 2019/878).
HM Treasury updated its webpage on a call for...more
12/7/2020
/ Bank of England ,
Capital Markets ,
Capital Markets Union ,
Capital Requirements Regulation (CRR) ,
Commission Delegated Regulation ,
EMIR ,
Environmental Social & Governance (ESG) ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Financial Services Industry ,
Financial Stability Board ,
HM Treasury ,
MiFID II ,
MiFIR ,
Prudential Regulation Authority (PRA) ,
UK
29 October -
The Financial Conduct Authority (“FCA”) updated its webpage on its responsibilities to mutual societies and its webpage on mutual societies’ annual returns and accounts.
The FCA published a press release...more
11/4/2020
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Consultation Papers ,
Dear CEO Letter ,
EU ,
European Banking Authority (EBA) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Financial Stability Board ,
FinCEN ,
HM Treasury ,
MiFID II ,
MiFIR ,
Prudential Regulation Authority (PRA)
29 September -
The Financial Conduct Authority (“FCA”) published its perimeter report 2019/20, which provides an update on the issues raised in its 2018/19 report.
A European Commission notice (2020/C 321/01) relating...more
10/7/2020
/ Banking Sector ,
Consultation Papers ,
EU ,
European Securities and Markets Authority (ESMA) ,
European Supervisory Authorities (ESAs) ,
FATF ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
Libor ,
MiFID II ,
MiFIR ,
Prudential Regulation Authority (PRA) ,
Sterling Overnight Index Average (SONIA) ,
UK
30 July -
The Financial Conduct Authority (“FCA”) updated its webpage on the High Court business interruption insurance test case.
The Prudential Regulation Authority (“PRA”) published a consultation paper (CP11/20)...more
8/7/2020
/ Annual Reports ,
Anti-Corruption ,
Bank of England ,
Consultation Papers ,
EIOPA ,
EU ,
European Banking Authority (EBA) ,
European Central Bank ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Financial Services Industry ,
HM Treasury ,
HMRC ,
Libor ,
MiFID II ,
MiFIR ,
Policy Statement ,
Prudential Regulation Authority (PRA)
30 June -
The Financial Conduct Authority (“FCA”) announced that the deadline for solo-regulated firms to have undertaken the first assessment of the fitness and propriety of their Certified Persons will be delayed from 9...more
7/6/2020
/ Banking Sector ,
Business Interruption ,
EU ,
European Banking Authority (EBA) ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
HM Treasury ,
IOSCO ,
MiFID II ,
Prudential Regulation Authority (PRA)
On 23 June 2020, the UK Financial Conduct Authority (“FCA”) published a discussion paper (“DP 20/2”) in relation to a new UK prudential regime for investment firms authorised under the Markets in Financial Instruments...more
Given the current impact of COVID-19 on the financial services industry, please tune in to our podcast discussion on the key considerations that businesses should be aware of while facing potential insolvency and other...more
5/5/2020
/ Banking Sector ,
Business Interruption ,
Coronavirus/COVID-19 ,
Equity Financing ,
EU ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
MiFID II ,
Prudential Regulation Authority (PRA) ,
UK Brexit
3 February -
The European Banking Authority (“EBA”) published a report on the benchmarking of diversity practices in credit institutions and investment firms under the CRD IV Directive (2013/36/EC)....more
3/9/2020
/ Banking Sector ,
Consultation Papers ,
Corporate Governance ,
CRD IV Directive ,
Dear CEO Letter ,
EIOPA ,
European Banking Authority (EBA) ,
European Central Bank ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Libor ,
MiFID II ,
MiFIR ,
Policy Statement ,
Prudential Regulation Authority (PRA)
2 December -
The Financial Conduct Authority ("FCA") updated the following webpages:
- webpage on its July 2018 discussion paper on price discrimination in the cash savings market (PD18/6); and
- webpage on its...more
1/8/2020
/ AML/CFT ,
Consultation Papers ,
Credit Rating Agencies ,
EMIR ,
EU ,
European Banking Authority (EBA) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Financial Stability Board ,
Investment Firms ,
MiFID II
1 November -
The Prudential Regulation Authority ("PRA") published a Dear CEO letter in relation to the reliability of regulatory returns. Firms are expected, if asked, to be able to respond promptly to a request from...more
12/4/2019
/ BEIS ,
Cross-Border Transactions ,
EU ,
EU Directive ,
European Banking Authority (EBA) ,
European Central Bank ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Insurance Industry ,
MiFID II ,
No-Deal Brexit ,
Prudential Regulation Authority (PRA) ,
Regulatory Requirements ,
Retail Investors
1 June -
HM Treasury published a consultation paper (dated May 2019) on the regulation of pre-paid funeral plans. HM Treasury intends to bring all funeral plan providers within the remit of the FCA....more
7/3/2019
/ Derivatives ,
EIOPA ,
European Banking Authority (EBA) ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Financial Stability Board ,
HM Treasury ,
IOSCO ,
MiFID II ,
MiFIR
1 May -
The Financial Conduct Authority ("FCA") published a call for input on its evaluation of the Retail Distribution Review and Financial Advice Markets Review.
The Prudential Regulation Authority ("PRA") published...more
6/3/2019
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Capital Requirements Regulation (CRR) ,
CRR II ,
EIOPA ,
European Banking Authority (EBA) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
IOSCO ,
MiFID II ,
MiFIR ,
Prudential Regulation Authority (PRA) ,
Solvency II ,
UK
1 April -
The Financial Conduct Authority ("FCA") published a statement announcing that it is commissioning an investigation by an independent person into the issues raised by the failure of London Capital & Finance....more
5/2/2019
/ EU ,
European Banking Authority (EBA) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Financial Services Industry ,
Financial Stability Board ,
MiFID II ,
Prudential Regulation Authority (PRA) ,
UK ,
UK Competition and Markets Authority (CMA)
1 March -
The European Banking Authority ("EBA") published an opinion on deposit protection resulting from the United Kingdom's ("UK") withdrawal from the European Union ("EU").
The Financial Conduct Authority ("FCA")...more
4/3/2019
/ Banking Sector ,
EIOPA ,
EU ,
EU Benchmark Regulation ,
European Securities and Markets Authority (ESMA) ,
European Supervisory Authorities (ESAs) ,
Financial Institutions ,
MiFID II ,
MiFIR ,
Prudential Regulation Authority (PRA) ,
UK Brexit
1 February -
The Financial Conduct Authority ("FCA") published a press release announcing that it has agreed with the European Securities and Markets Authority ("ESMA") and other European Union securities regulators...more
3/5/2019
/ Data Protection ,
EIOPA ,
EU ,
European Securities and Markets Authority (ESMA) ,
EuSEF ,
EuVECA ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Libor ,
MiFID II ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
UK ,
UK Brexit
2 January -
The Financial Conduct Authority ("FCA") published a press release explaining that claims management companies can now register for the temporary permission they will need to continue operating when the FCA...more
3 December -
The European Central Bank ("ECB") published a document setting out its cyber resilient oversign expectations for financial market infrastructures.
4 December -
On 4 December 2018, the Council of the EU...more
1/3/2019
/ Acquisitions ,
Banking Sector ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
Mergers ,
MiFID II ,
Prudential Regulation Authority (PRA) ,
Regulatory Requirements ,
UK ,
UK Brexit
2 November -
The Prudential Regulation Authority ("PRA") updated its consultation paper on changes to the PRA Rulebook and onshored binding technical standards.
The Financial Conduct Authority ("FCA") published issue...more
12/5/2018
/ EU ,
European Banking Authority (EBA) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
FSCS ,
IOSCO ,
MiFID II ,
Private Equity ,
Prudential Regulation Authority (PRA) ,
UK ,
UK Brexit
1 October -
The Competition and Markets Authority ("CMA") published a paper that was prepared jointly with the Financial Conduct Authority ("FCA") setting out the lessons that have been learned from the programme of work...more
11/2/2018
/ Alternative Investment Fund Managers Directive (AIFMD) ,
EU ,
European Securities and Markets Authority (ESMA) ,
European Supervisory Authorities (ESAs) ,
Financial Conduct Authority (FCA) ,
Investment Adviser ,
Key Information Document (KIDs) ,
MiFID II ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
UK ,
UK Competition and Markets Authority (CMA)
3 April -
The Financial Conduct Authority ("FCA") published a press release, warning that it intends to take action against general insurance firms that fail to properly implement the rules aimed at increasing...more
5/2/2018
/ AIMA ,
Antitrust Provisions ,
Artificial Intelligence ,
ECON ,
EU ,
European Banking Authority (EBA) ,
European Central Bank ,
European Commission ,
European Supervisory Authorities (ESAs) ,
Financial Conduct Authority (FCA) ,
Financial Instruments ,
Financial Regulatory Reform ,
Financial Services Industry ,
MiFID II ,
Prudential Regulation Authority (PRA) ,
Solvency II ,
UK ,
WTO
1 March -
The Financial Conduct Authority ("FCA") published general insurance value measures data in relation to 36 insurers (including both UK and EEA firms) for the year ending 31 August 2017. The data is aimed at...more
4/5/2018
/ Capital Markets ,
European Commission ,
European Economic Area (EEA) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Free Trade Agreements ,
Insurance Industry ,
ISDA ,
Libor ,
Mergers ,
MiFID II ,
Payment Services Directive ,
UK ,
UK Brexit ,
UK Competition and Markets Authority (CMA)
1 February -
The European Commission ("EC") launched the EU Blockchain Observatory and Forum in order to highlight key developments of blockchain technology, promote and reinforce European engagement with multiple...more
3/9/2018
/ AIFM ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Blockchain ,
Collective Investment Schemes ,
Cryptocurrency ,
EU ,
EU Market Abuse Regulation (EU MAR) ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
EuSEF ,
EuVECA ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Gambling ,
General Data Protection Regulation (GDPR) ,
IOSCO ,
MiFID II ,
UK Brexit ,
UK Competition and Markets Authority (CMA)