Our August 2021 update considers recent developments in employment law, including a significant case on section 100(e) automatically unfair dismissals during the COVID-19 lockdown, and cases on disability discrimination and...more
UK Securitisation Regulation: HM Treasury review HM Treasury has published a call for evidence to inform its review of the retained EU law version of the EU Securitisation Regulation (UK Securitisation Regulation or "Sec...more
COVID-19: FCA statement on regulatory treatment of Recovery Loan Scheme - The FCA has published a statement on the regulatory treatment of the UK Recovery Loan Scheme (RLS), which was launched on 6 April 2021 as part of the...more
UK SFTR: FCA update on reporting LEIs - The Financial Conduct Authority (FCA) has updated its webpage on the retained EU law version of the Regulation on reporting and transparency of securities financing transactions ...more
COVID-19: BoE statement on regulatory treatment of Recovery Loan Scheme - The Bank of England (BoE) has published a statement on the regulatory treatment of the UK Recovery Loan Scheme (RLS), which has been launched as part...more
Capital buffers: PRA modification by consent - The UK Prudential Regulation Authority (PRA) has published a direction for modification by consent of 5.1 - 5.3 and 5.5 of the Capital Buffers Part of the PRA Rulebook....more
UK SRR code of practice - HM Treasury has published a revised version of the Banking Act 2009 special resolution regime (SRR) code of practice which applies to the use of the SRR after the end of Brexit transition period....more
Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 - The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (SI 2020/1350) have been published, together with an explanatory memorandum....more
Proprietary trading review: PRA report - The UK Prudential Regulation Authority (PRA) has published a report on the outcome of its proprietary trading review. The review was required under section 9 of the Financial...more
COVID-19: PRA statement on application of IFRS 9 and capital requirements as mortgage payment deferrals come to an end - On 26 August 2020, the UK Prudential Regulation Authority (PRA) published a statement to clarify its...more
COVID-19: PRA suspends guidance levels on fixed rate lending limits for non-systemic building societies - On 11 August 2020, the UK Prudential Regulation Authority (PRA) published a letter (dated 31 July 2020) sent from...more
È noto che la pandemia di Covid-19 non ha avuto solamente una ricaduta devastante sul piano sociale e sanitario, avendo determinato una crisi economica rispetto alla quale non è ancora possibile stabilire con certezza gli...more
Recent regulatory development focussing on banking and finance. Includes updates relating to COVID-19 regulatory response, CRR, and more....more
Recent regulatory developments focussing on banking and finance. Includes updates relating to COVID-19 regulatory response, CRR, and more....more
The measures grant relief for EU banks to enhance bank lending to companies and households. On 18 June 2020, the European Parliament approved the so-called CRR “quick fix” to Regulation (EU) 575/2013 (Capital Requirement...more
COVID-19: PRA Dear CEO letter on treatment of payment deferrals under IFRS 9 and CRR - On 4 June 2020, the UK Prudential Regulation Authority (PRA) published a Dear CEO letter on International Financial Reporting Standard...more
On 28 April 2020, the European Commission (the “Commission”) proposed a new Regulation to make targeted amendments to the EU Capital Requirements Regulation (575/2013) (“CRR”) and the CRR II Regulation ((EU) 2019/876) (“CRR...more
On 27 April 2020, the UK Prudential Regulation Authority (“PRA”) published a statement (the “statement”) on whether the guarantees provided by the UK Government (through the British Business Bank) under the Coronavirus...more
Recent regulatory developments of interest to financial institutions. COVID-19: EBA and PRA approach to regulatory reporting and Pillar 3 disclosures - On 2 April 2020, the PRA published a statement on amendments made to...more