WORD OF THE DAY® – Clean-Up Call
September 12, 2022- The Federal Reserve Board published a paper entitled, "The impact of risk cycles on business cycles: a historical view."...more
July 7, 2022- The Secretary of the Treasury, in consultation with the Secretary of State, the Secretary of Commerce, the Administrator of the U.S. Agency for International Development, and the heads of other relevant...more
June 30, 2022- The Task Force on Financial Technology held a hearing entitled, "Combatting Tech Bro Culture: Understanding Obstacles to Investments in Diverse-Owned Fintechs."...more
While the spike in bad debt and subsequent tsunami of NPL and non-core loan deals that was anticipated due to COVID-19 did not materialise, the increasingly volatile market trends may lead investors to discover new and...more
Federal Agencies- U.S. Department of the Treasury- U.S. Treasury Severs More Networks Providing Support for Putin and Russia's Elites-...more
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
COVID-19- automatic unfair dismissal for employee who remained in Italy during outbreak - A Tribunal has found, in the case of Montanaro v Lansafe Limited, that an employee who had travelled from the UK to Italy for the...more
After a year during which uncertainty in the equity markets became the new normal, many stakeholders are wondering whether the disruptions are behind us. A look at key indicators might lead one to say yes. The S&P Loan Index...more
The COVID-19 pandemic has accelerated the two linked trends of financial institutions transferring their IT infrastructure to the cloud and selling their self-owned data centres in order to lease back only the reduced space...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
Our weekly update on key regulatory topics affecting the financial services sector....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
Brexit - Please see the Other Developments section for the MoU agreed between the ECB, FCA and BoE on post-Brexit supervisory cooperation, effective from 1 January. ...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
UK ring-fencing and proprietary trading independent reviews: Terms of Reference - HM Treasury has published the Terms of Reference for the upcoming statutory reviews of the ring-fencing regime legislation and banks'...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
The European Banking Authority has confirmed that it will phase out its Guidelines on legislative and non-legislative payment moratoria in accordance with its September 30, 2020 deadline. The EBA originally published the...more
COVID-19: PRA letter to credit unions and direction modifying minimum provisioning requirements - On 7 October 2020, the UK Prudential Regulation Authority (PRA) published a letter to directors of credit unions on...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
PRA PS20/20: response to CP3/20 occasional paper - Following its March 2020 occasional consultation paper (CP3/20), the UK Prudential Regulation Authority (PRA) has published a policy statement, PS20/20, setting out its...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
The European Securities and Markets Authority has announced that it is preparing new Regulatory Technical Standards to further postpone the securities settlement discipline rules under the Central Securities Depositories...more
Our note summarises key national payment moratoria measures and other reliefs related to the COVID-19 pandemic which have been introduced in various European countries and which are relevant in the context of structured...more
COVID-19: FCA guidance for insurance and premium finance firms on customers in temporary financial difficulty - On 11 August 2020, the UK Financial Conduct Authority (FCA) published updated finalised guidance setting out...more