The Standard Formula Podcast | Insurers in Difficulty: Staying Compliant Under Solvency II
The Standard Formula Podcast | Using an Internal Model to Calculate the Solvency Capital Requirement
Williams Mullen's Comeback Plan: Part II - How Banks Think About Loan Defaults: Lessons for Borrowers in Troubled Times
CFTC Proposal Poses “Monumental” Challenge to FCMs
The European Commission has adopted a Delegated Regulation amending the EU Capital Requirements Regulation with regard to the date of application of the own funds requirements for market risk. In addition, alongside the...more
Fund Tokenisation: The Financial Conduct Authority (“FCA”) published a press release announcing that it has joined the Monetary Authority of Singapore’s Project Guardian, a collaborative initiative with the financial industry...more
31 July - ESG: The European Commission adopted a Commission Delegated Regulation, setting out the first set of European Sustainability Reporting Standards (“ESRS”), together with a Q&A (see press release). The ESRS specify...more
On 7 July 2023, the European Commission (“EC”) approved the text of a delegated regulation supplementing the EU Securitisation Regulation (the “EUSR”) regarding regulatory technical standards on risk retention (the “RR RTS”)....more
Key developments in November 2022: The Financial Services and Markets Act 2000 (Qualifying Provisions) (Amendment) Order 2022 (SI 2022/1252) was published together with an explanatory memorandum. The amendments allow for the...more
Key Points - The European Commission (“EU Commission”) has published its report on the functioning of the EU Securitisation Regulation which contains the EU Commission’s assessment of a number of key aspects of the...more
On 16 December 2020, the Council of the European Union published final compromise proposals for a package of measures dubbed the “Capital Markets Recovery Package”, these were adopted by the European Parliament’s Committee on...more
The Development: New Regulation (EU) 2020/2176 (the "Regulation") provides regulatory capital relief, allowing certain software assets to be considered when calculating Common Equity Tier 1 ("CET1") capital. It entered into...more
A recent report, entitled “A New Vision for Europe’s Capital Markets” (the “Report”), sets out some key recommendations for how the EU securitisation market can be scaled up. The Report has been published by the High Level...more
The European Commission’s Implementing Technical Standards amending the existing Implementing Regulation on closely correlated currencies has been published in the Official Journal of the European Union. The Capital...more
The European Banking Authority has published several documents setting out its advice to the European Commission on the impact and implementation in the EU of the Basel III 2017 reforms. On December 7, 2017, the Basel...more
On June 27, the European Commission published a report (COM(2019) 292 final) on the group supervision and capital management provisions under the Solvency II Directive (2009/138/EC)....more
The European Commission has published a report on the effects of the EU regulatory capital framework on the economic cycle. The Capital Requirements Regulation requires the Commission to assess periodically whether...more
On 20 December 2017, the European Commission published proposals to revise the framework for the prudential regulation of investment firms. The proposals were anticipated and are an attempt to “ensure that investment firms...more
European Commission Inception Impact Assessment on Legislative Proposal for EU Framework on Crowdfunding - On October 30, 2017, the European Commission published an inception impact assessment for a legislative proposal...more
New rules will modify regulatory capital requirements for securitisation positions and unify risk retention practices. By year end, the European Commission (the EC) is expected to publish two new EU regulations in the...more
Financial Industry Developments - Class Action Against Lending Club and WebBank Headed to Defeat - On Monday, January 31, 2017, a federal district court in the Southern District of New York granted a motion to...more
The European Commission has published draft legislative proposals which would require large non-EU banking firms with EU operations to establish an intermediate holding company in the EU. The proposed rules are similar to US...more
CFTC Re-Proposes Capital Rules for Swap Dealers: The Commodity Futures Trading Commission re-proposed minimum capital requirements for swap dealers and major swap participants that are not subject to prudential...more
On November 23, 2016, the European Parliament published a provisional version of the text of the resolution it has adopted on finalization of Basel III. Among other things, in the resolution, the Parliament: - ...more
On November 10, 2016, the European Parliament published a press release on a vote taken by its Committee on Economic and Monetary Affairs (“ECON“) in relation to revisions to Basel III, which are currently under consideration...more
The Basel Committee on Banking Supervision (the “Basel Committee”) published an updated version of the “Basel III Document – Revisions to the securitisation framework” on 11 July 2016 (the “Amended Securitisation...more
The European Commission published a consultation paper on proposed options for implementing principles of proportionality in the upcoming capital requirements framework, to review the Original Exposure Method and replace the...more
On March 7, the European Commission (EC) published a document containing a list of planned EC initiatives (List). The List sets out the scope, objectives and expected adoption dates of legislative and non-legislative...more
Since the Action Plan for a Capital Markets Union (“CMU”) was launched on 30 September 2015, the European Commission (“the Commission”) has initiated a number of CMU initiatives. Notably, building on the CMU’s initial...more