At our recent global conference we held in partnership with Global Digital Finance, our keynote speaker suggested that the three major drivers for financial institution regulators and policy makers for the next few years...more
Benchmarks (Provision of Information and Documents) (Amendment) Regulations 2021 published The Benchmarks (Provision of Information and Documents) (Amendment) Regulations 2021 (SI 2021/920) (Amending Regulations) have been...more
CRM code for APP scams: LSB update The Lending Standards Board (LSB) has published a press release setting out the next steps for the contingent reimbursement model code (CRM code) for authorised push payment (APP) scams. ...more
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
Confirmation of Payee Phase 2: PSR letter to Specific Direction 10 banks and UK Finance The Payment Systems Regulator (PSR) has published a letter it has sent to the UK's six biggest banking groups (directed under the PSR's...more
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
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
Listing regime: FCA Primary Markets Effectiveness Review -
The Financial Conduct Authority (FCA) has published a consultation paper, CP21/21, seeking views on how primary markets can work more effectively for both...more
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 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
7/6/2021
/ Banking Sector ,
Capital Requirements Regulation (CRR) ,
Coronavirus/COVID-19 ,
Dear CEO Letter ,
European Banking Authority (EBA) ,
European Central Bank ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Markets ,
Financial Services Industry ,
HM Treasury
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
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
UK CCPs: BoE discussion paper on supervisory stress test framework The Bank of England (BoE) has published a discussion paper on supervisory stress testing of UK central counterparties (CCPs) and announced its first public...more
Payment and Electronic Money Institution Insolvency Regulations 2021 (SI 2021/716) The Payment and Electronic Money Institution Insolvency Regulations 2021 (SI 2021/716) have been published, together with an explanatory...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
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
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
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
Recent regulatory developments include the UK FCA/PSR update on mapping and an EU Commission review report on the Interchange Fee Regulation....more
Recent regulatory development focussing on banking and finance. Includes updates relating to COVID-19 regulatory response, CRR, and more....more
7/9/2020
/ Anti-Money Laundering ,
Bank Recovery and Resolution Directive (BRRD) ,
Banking Sector ,
Capital Requirements Regulation (CRR) ,
Coronavirus Business Interruption Loan Scheme (CBILS) ,
Coronavirus/COVID-19 ,
EU ,
European Central Bank ,
Financial Institutions ,
Financial Regulatory Agencies ,
Financial Services Industry ,
Prudential Regulation Authority (PRA) ,
Too Big to Fail ,
UK
Recent regulatory developments of interest to all financial institutions. Includes COVID-19 and Brexit-related updates, and more.
...more
7/9/2020
/ Banking Sector ,
Climate Change ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Agencies ,
Financial Services Industry ,
Mutual Recognition Agreement ,
Prudential Regulation Authority (PRA) ,
SMCR ,
Taxonomy ,
UK ,
UK Brexit