Flood insurance: UK government response to independent review Following the publication in November 2020 of a report on the independent review of flood insurance in Doncaster, the government has published a policy...more
8/9/2021
/ Dear CEO Letter ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Flood Insurance ,
HM Treasury ,
Insurance Brokers ,
Insurance Industry ,
Life Insurance ,
Prudential Regulation Authority (PRA) ,
Solvency II ,
UK
BCBS rules on NPL securitisations: PRA CP10/21 extended closing date The Prudential Regulation Authority (PRA) has announced that it has extended the closing date, from 26 July 2021 to 9 August 2021, for responses to its June...more
FCA regulatory sandbox: new application guide and now always open The Financial Conduct Authority (FCA) has published a new guide to assist firms making a regulatory sandbox application. The FCA has also updated its webpage...more
8/9/2021
/ Alternative Investment Fund Managers Directive (AIFMD) ,
AML/CFT ,
Banking Sector ,
Committee on Payments and Market Infrastructure (CPMI) ,
Consultation Papers ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
MiFID II ,
Prudential Regulation Authority (PRA) ,
Sustainable Finance ,
UCITS ,
UK
Bank of England Act 1998 (Macro-prudential Measures) (Amendment) Order 2021 The Bank of England Act 1998 (Macro-prudential Measures) (Amendment) Order 2021 (SI 2021/869) has been published, together with an explanatory...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)
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
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
Internal ratings based UK mortgage risk weights: PRA PS16/21 -
Following its consultation in CP14/20, the Prudential Regulation Authority (PRA) has published a policy statement, PS16/21, on new expectations on internal...more
UK Solvency II review: PRA CP11/21 on reporting (phase 1) The Prudential Regulation Authority (PRA) has published a consultation paper, CP11/21, on phase 1 of a review of reporting and disclosure requirements under the...more
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
Markets in Financial Instruments (Capital Markets) (Amendment) Regulations 2021 The Markets in Financial Instruments (Capital Markets) (Amendment) Regulations 2021 (SI 2021/774) have been published, together with an...more
7/6/2021
/ Bank of England ,
Consultation Papers ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Financial Services and Markets Act ,
Financial Services Industry ,
Insolvency ,
IOSCO ,
Prospectus Regulation (PR3) ,
Prudential Regulation Authority (PRA) ,
UK
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
The Financial Services Act 2021 (Commencement No 2) Regulations 2021 (SI 2021/739) have been published. The Regulations set out commencement dates for a number of provisions in the Financial Services Act 2021 (FS Act)....more
Draft Bank of England Act 1998 (Macro-prudential Measures) (Amendment) Order 2021 published A draft version of the Bank of England Act 1998 (Macro-prudential Measures) (Amendment) Order 2021 has been published, together with...more
6/21/2021
/ Bank Recovery and Resolution Directive (BRRD) ,
Banking Sector ,
Banks ,
Capital Requirements Regulation (CRR) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Prudential Regulation Authority (PRA) ,
Single Supervisory Mechanism ,
UK
UK Solvency II review: PRA information on quantitative impact study The Prudential Regulation Authority (PRA) has published a webpage setting out information about its forthcoming quantitative impact study (QIS), which will...more
Financial Services Act 2021 (Commencement No 1) Regulations 2021 The Financial Services Act 2021 (Commencement No 1) Regulations 2021 (SI 2021/671) have been published. SI 2021/671 is a commencement regulation made under the...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
DvP clients: FCA and PRA Dear CRO letter on counterparty credit exposure management and controls -
The UK Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) have published a letter to chief risk...more
6/8/2021
/ Clearing Agencies ,
Counterparty Risk ,
CSDR ,
Dear CEO Letter ,
EMIR ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Investor Protection ,
MiFID ,
MiFIR ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Securities Regulation ,
Securitization ,
SFTR ,
UK
GBP transition to SONIA under Solvency II regime: PRA PS12/21 -
The UK Prudential Regulation Authority (PRA) has published a policy statement, PS12/21, on deep, liquid and transparent (DLT) assessments and GBP transition to...more
SMCR: PRA PS11/21 and FCA Handbook Notice 88 on temporary, long-term absences -
The UK Prudential Regulation Authority (PRA) has published a policy statement, PS11/21, which confirms its final policy relating to temporary,...more
6/7/2021
/ Cryptoassets ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Instruments ,
Financial Services Industry ,
Prudential Regulation Authority (PRA) ,
RegTech ,
Regulatory Agenda ,
SMCR ,
UK
US-UK financial regulatory working group joint statement -
HM Treasury has published a joint statement by the US-UK Financial Regulatory Working Group following its fourth meeting, which was held virtually on 20 May 2021....more
Civil Liability Act 2018 (Financial Conduct Authority) (Whiplash) Regulations 2021 -
The Civil Liability Act 2018 (Financial Conduct Authority) (Whiplash) Regulations 2021 (SI 2021/594) have been published, together with an...more
Climate change: BoE speech on course to net zero - The Bank of England (BoE) has published a speech by Sarah Breeden, Executive Director, UK Deposit Takers Supervision in which she talks about how financial services firms in...more
2022/23 supervisory benchmarking exercise for capital internal models: PRA statement - The UK Prudential Regulation Authority (PRA) has published a statement on its expectations concerning the 2022 and 2023 supervisory...more
Collections function: PRA Dear Chief Risk Officer letter -
The UK Prudential Regulation Authority (PRA) has published a letter to Chief Risk Officers (CROs) of non-systemic UK deposit takers, from Melanie Beaman, PRA...more