CRR: Commission Implementing Regulation containing ITS on reporting requirements for market risk Commission Implementing Regulation (EU) 2021/453 containing implementing technical standards (ITS) on specific reporting...more
3/23/2021
/ Banks ,
Basel III ,
Capital Requirements Regulation (CRR) ,
EU ,
European Central Bank ,
Implementing Technical Standards (ITS) ,
Liquidity Coverage Ratio ,
Regulatory Agenda ,
RTS ,
Small and Medium-Sized Enterprises (SMEs) ,
Stress Tests ,
UK
Open banking: CMA consultation on future governance -
The Competition and Markets Authority (CMA) is consulting on the future governance of open banking. In order to implement open banking, the CMA required the nine largest...more
UK Emissions Trading Scheme: Revised draft Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 -
A revised draft version of the Recognised Auction Platforms (Amendment and Miscellaneous...more
3/15/2021
/ CSDR ,
EMIR ,
Emissions Trading System ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
MiFIR ,
Regulatory Agenda ,
Securities Regulation ,
SFTR ,
UK
Strategic trends -
Pay.UK report and Knowledge Hub Pay.UK has announced the publication of a report exploring the key trends that are shaping the future of retail payments. ...more
Resolvability Assessment Framework: BoE Dear CEO letter The Bank of England (BoE) has published a letter sent by Dave Ramsden, BoE Deputy Governor for Markets and Banking, to the CEOs of the eight UK banks in the scope of the...more
3/1/2021
/ Bank of England ,
Capital Requirements Regulation (CRR) ,
CDD ,
Crowdfunding ,
Dear CEO Letter ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Services Industry ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
RTS ,
UK ,
UK Brexit
SEPA direct debit schemes: EPC guidelines for appearance of mandates -
The European Payments Council (EPC) has published revised guidelines on the appearance of mandates for the Single Euro Payments Area (SEPA) Direct Debit...more
UK CCPs: HM Treasury consults on expanded resolution regime -
HM Treasury is consulting on an expanded resolution regime for central counterparties (CCPs). HM Treasury intends to revise and expand the UK CCP resolution...more
3/1/2021
/ Central Counterparties ,
EU ,
EU Benchmark Regulation ,
European Securities and Markets Authority (ESMA) ,
Financial Markets ,
GameStop ,
IOSCO ,
Libor ,
Market Manipulation ,
MiFIR ,
Regulatory Agenda ,
Securities Regulation ,
Stock Trades ,
UK
COVID-19: FCA update on BI insurance test case - The UK Financial Conduct Authority (FCA) has updated its webpage on its business interruption (BI) insurance test case....more
2/22/2021
/ Business Interruption ,
Commercial Insurance Policies ,
Consumer Insurance Products ,
Coronavirus/COVID-19 ,
EIOPA ,
EU ,
Financial Conduct Authority (FCA) ,
Infectious Diseases ,
Insurance Claims ,
Insurance Regulations ,
Policy Terms ,
Regulatory Agenda ,
Solvency II ,
UK
Operational resilience: developments in the financial services sector in the UK - In recent years, operational resilience has come under the spotlight of financial regulators globally, leading to a proliferation of new...more
2/22/2021
/ Benchmarks ,
Consumer Financial Products ,
ESRB ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
General Data Protection Regulation (GDPR) ,
Green Finance ,
Information Commissioner's Office (ICO) ,
International Data Transfers ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
UK
Brexit: Draft Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 - A draft version of the Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 has been...more
2/15/2021
/ Coronavirus/COVID-19 ,
EMIR ,
EU ,
European Benchmark Regulation (BMR) ,
Financial Markets ,
Infectious Diseases ,
Regulatory Agenda ,
Securities Regulation ,
SFTR ,
Trade Repositories ,
UK ,
UK Brexit
Solvency II: PRA letter to life insurers on application of effective value test -The UK Prudential Regulation Authority (PRA) has sent a letter to the Chief Actuaries of life insurers on feedback on the application of the...more
Financial Services Bill 2019-21 - Having completed its progress through the House of Commons, on 14 January 2021, the Financial Services Bill 2019-21 had its first reading in the House of Lords. A revised version of the Bill,...more
UK-EU trade and cooperation agreement After extensive negotiations, and within a week of the Brexit transition period ending on 31 - December 2020, the UK and the EU finally announced on 24 December 2020 that they had agreed...more
1/18/2021
/ Cloud Computing ,
Coronavirus/COVID-19 ,
Cryptoassets ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Gibraltar ,
Infectious Diseases ,
Libor ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
SMCR ,
UK ,
UK Brexit
TMPR: FCA update on adding new sub-fund to umbrella scheme - The UK Financial Conduct Authority (FCA) has updated its webpage on adding a new sub-fund to an umbrella scheme in the temporary marketing permissions regime (TMPR)...more
MMF Regulation: ESMA updates reporting instructions -
The European Securities and Markets Authority (ESMA) has announced that it has updated its validation rules regarding the EU Regulation on money market funds (MMF...more
PIs and EMIs: HM Treasury consults on a new special administration regime -
HM Treasury is consulting on proposed insolvency changes for payment institutions (PIs) and electronic money institutions (EMIs), including a...more
UK payment systems: Pay.UK recommendations for adopting ISO 20022 -
Pay.UK published a report containing conclusions and recommendations relating to adopting the common global messaging standard for UK payments, known as...more
12/7/2020
/ AML/CFT ,
Anti-Money Laundering ,
Basel Committee on Banking Supervision (BCBS) ,
Cross-Border Transactions ,
Customer Due Diligence (CDD) ,
EU ,
European Central Bank ,
FATF ,
Financial Services Industry ,
Payment Systems ,
SEPA ,
UK
Securities Financing Transactions, Securitisation and Miscellaneous Amendments (EU Exit) Regulations 2020 -
The Securities Financing Transactions, Securitisation and Miscellaneous Amendments (EU Exit) Regulations 2020 (SI...more
12/7/2020
/ EMIR ,
EU ,
European Benchmark Regulation (BMR) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
FSB ,
MiFIR ,
Over The Counter Derivatives (OTC) ,
Regulatory Agenda ,
Securities Transactions ,
Securitization ,
Sterling Overnight Index Average (SONIA) ,
UK ,
UK Brexit
Bearer Certificates (Collective Investment Schemes) Regulations 2020 -
The Bearer Certificates (Collective Investment Schemes) Regulations 2020 (SI 2020/1346) have been published, together with an explanatory memorandum....more
Recent regulatory developments of interest to insurers and their intermediaries. Among other things, includes UK FCA updates on preparing for the end of the UK-EU transition period.
...more
11/30/2020
/ Consumer Insurance Products ,
Coronavirus/COVID-19 ,
Dear CEO Letter ,
EU ,
European Economic Area (EEA) ,
Financial Conduct Authority (FCA) ,
Infectious Diseases ,
Life Insurance ,
Lloyds of London ,
Solvency II ,
UK ,
UK Brexit
Submission of statistical data: BoE Green Notice 2020/02 -
The Bank of England (BoE) has published a Green Notice 2020/02 announcing future changes to the submission of statistical data to its Data and Statistics Division...more
Recent regulatory developments of interest to financial institutions and markets. Includes updates from the UK FCA, the European Supervisory Authorities and IOSCO, among others. Recent regulatory developments of interest to...more
11/30/2020
/ ACER ,
EMIR ,
EU ,
EURIBOR ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Regulatory Agenda ,
REMIT ,
RTS ,
Securitization ,
SFTR ,
UK ,
UK Brexit
Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2020 -
The Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2020 (SI 2020/1274) have been published, together with an explanatory...more
11/23/2020
/ CRR II ,
Dear CEO Letter ,
Economic Sanctions ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
FSCS ,
Gibraltar ,
National Competent Authorities (NCA) ,
Ombudsman ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Serious Fraud Office (SFO) ,
UK
Payment Services and Electronic Money (Amendment) Regulations 2020 published -
The Payment Services and Electronic Money (Amendment) Regulations 2020 (SI 2020/1275) have been published, together with an explanatory...more
UK BMR: FCA approach to orderly wind down of LIBOR and consultation on Statements of Policy -
The UK Financial Conduct Authority has published a document on the Benchmarks Regulation (UK BMR) and proposed amendments under...more