Regulation on the cross-border distribution of CIS: ESMA guidelines for marketing communications The European Securities and Markets Authority (ESMA) has published the official translations (select the "i" for languages other...more
Draft Markets in Financial Instruments, Benchmarks and Financial Promotions (Amendment) (EU Exit) Regulations 2021 HM Treasury has published a draft version of the Markets in Financial Instruments, Benchmarks and Financial...more
8/2/2021
/ AML/CFT ,
BEIS ,
EU ,
European Commission ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Instruments ,
Financial Markets ,
Financial Services Industry ,
HM Treasury ,
MiFIR ,
Prudential Regulation Authority (PRA)
SMCR for FMIs: HM Treasury consultation HM Treasury has published a consultation paper proposing a Senior Managers and Certification Regime (SMCR or SM&CR) for financial market infrastructures (FMIs). The consultation closes...more
8/2/2021
/ Bank of England ,
Environmental Social & Governance (ESG) ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Markets ,
IOSCO ,
Listing Rules ,
MiFID ,
UK
Solvency II review: PRA QIS material and related Dear CEO letter on data gathering The Prudential Regulation Authority (PRA) has updated its Solvency II Review Quantitative Impact Study (QIS) webpage with the QIS materials,...more
PSD2: EBA consults on guidelines on limited network exclusion The European Banking Authority (EBA) is consulting on guidelines on the limited network exclusion (LNE) under the revised Payment Services Directive (PSD2)....more
COVID-19 BI insurance test case: FCA updates webpage The Financial Conduct Authority (FCA) has updated the webpage on its business interruption (BI) insurance test case. The FCA has published the Supreme Court order varying...more
UK CRR: Draft Capital Requirements Regulation (Amendment) Regulations 2021 A draft version of the Capital Requirements Regulation (Amendment) Regulations 2021 has been published, together with a draft explanatory memorandum....more
7/19/2021
/ Bank Recovery and Resolution Directive (BRRD) ,
Banking Sector ,
Basel III ,
Capital Requirements Regulation (CRR) ,
EU ,
European Banking Authority (EBA) ,
Financial Institutions ,
Financial Services Industry ,
HM Treasury ,
Libor ,
Prudential Regulation Authority (PRA) ,
UK
Future framework for regulation of UK financial services: Treasury Committee report - The House of Commons Treasury Committee has published its Fifth Report of Session 2021-22 on the future framework for regulating financial...more
7/13/2021
/ Bank of England ,
EU ,
European Banking Authority (EBA) ,
European Commission ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
Financial Stability Board ,
General Data Protection Regulation (GDPR) ,
Libor ,
Prudential Regulation Authority (PRA) ,
UK
CCD: European Commission adopts proposed Directive on consumer credits The European Commission has adopted a proposed Directive on consumer credits to revise and replace the Consumer Credit Directive (CCD). The Commission has...more
UK Solvency II regime review: HM Treasury response to call for evidence HM Treasury has published a response to its October 2020 call for evidence on the review of the UK Solvency II prudential regime for insurers....more
AIFMD: ESMA guidelines addressing leverage risks The European Securities and Markets Authority (ESMA) has published a webpage with the official translations, including the English language version, of its guidelines to...more
Recurring subscription payments: European Commission writes to major credit card companies The European Commission has updated its webpage on coordinated actions relating to consumer rights to announce that, together with the...more
CRR: ECB extends leverage ratio relief for banks until March 2022 due to COVID-19 The European Central Bank (ECB) has adopted a Decision on the temporary exclusion of certain exposures to central banks from the leverage ratio...more
Resolution assessments: PRA PS10/21 on amendments to reporting and disclosure dates -
Following its consultation in CP19/20, the UK Prudential Regulation Authority (PRA) has published a policy statement, PS10/21, on...more
6/8/2021
/ Banks ,
Basel Committee on Banking Supervision (BCBS) ,
Capital Requirements ,
Capital Requirements Regulation (CRR) ,
Disclosure Requirements ,
EU ,
Implementing Technical Standards (ITS) ,
Non-Performing Loans (NPL) ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
UK
EU cross-border distribution of funds: ESMA guidelines on marketing communications -
Following its consultation in November 2020, the European Securities and Markets Authority (ESMA) has published a final report on...more
6/1/2021
/ Alternative Investment Funds ,
Asset Management ,
Collective Investment Schemes ,
ELTIF ,
EU ,
European Securities and Markets Authority (ESMA) ,
EuSEF ,
EuVECA ,
Investment Funds ,
Regulatory Agenda ,
UCITS ,
UK
FCA credit broking survey -
The UK Financial Conduct Authority (FCA) has announced that it plans to send a survey to 300 credit broking firms on 20 May 2021 asking them to update the information the FCA holds on how the...more
The Financial Conduct Authority (FCA) has published a consultation paper, CP21/9, on some initial changes to its conduct and organisational requirements implementing the EU Markets in Financial Instruments Directive (MiFID...more
CRM Code for APP scams: LSB call for input -
The Lending Standards Board (LSB) has published a call for input on the contingent reimbursement model code (CRM Code) for authorised push payment (APP) scams. The call for input...more
EU CRR: Corrigendum to Commission Implementing Regulation containing ITS on reporting requirements for market risk -
A corrigendum to Commission Implementing Regulation (EU) 2021/453 containing implementing technical...more
UK-EU MoU on regulatory cooperation in financial services -
HM Treasury has announced that technical discussions on the text of the memorandum of understanding (MoU) on UK-EU regulatory cooperation in financial services have...more
4/5/2021
/ AML/CFT ,
Consumer Financial Products ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Crimes ,
Financial Institutions ,
Financial Services Industry ,
FPC ,
Insurance Regulations ,
Libor ,
Memorandum of Understanding ,
Money Laundering ,
Pensions ,
Regulatory Agenda ,
Reinsurance ,
Sterling Overnight Index Average (SONIA) ,
UK
CMA 2021/22 annual plan -
The Competition and Markets Authority (CMA) has published its annual plan for 2021/22. In 2021/22, the CMA will focus on the following themes...more
3/30/2021
/ EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
International Trade ,
Libor ,
Regulatory Agenda ,
Trade Policy ,
UK ,
UK Brexit ,
UK Competition and Markets Authority (CMA) ,
Whistleblowers
Selected regulatory updates of interest to the funds and asset management sector. This edition reports on UCITS liquidity risk management and the EU MMF Regulation. ...more
3/30/2021
/ Asset Management ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Markets ,
Investment Funds ,
Liquidity Risk Management Rule ,
Money Market Funds ,
National Competent Authorities (NCA) ,
Regulatory Agenda ,
UCITS ,
UK
PSR annual plan and budget for 2021/22 -
The Payment Systems Regulator (PSR) has published its annual plan and budget for 2020/21, together with an accompanying factsheet. The plan sets out a summary of the PSR's key aims...more
Depositor protection identity verification: PRA PS4/21 -
Following its consultation in CP3/21, the UK Prudential Regulation Authority (PRA) has published a policy statement, PS4/21, on depositor protection identity...more
3/29/2021
/ Bank Recovery and Resolution Directive (BRRD) ,
EU ,
European Banking Authority (EBA) ,
European Central Bank ,
Financial Instruments ,
Financial Services Industry ,
Inter-Bank Offered Rates (IBORs) ,
Libor ,
MREL ,
Payment Services Directive ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Stress Tests ,
UK ,
UK Brexit
Regulation of UK wholesale financial markets: FCA speech -
The Financial Conduct Authority (FCA) has published a speech by Edwin Schooling Latter, Director of Markets and Wholesale Policy, on a forward look at regulation of...more