Hogan Lovells Global Payments Newsletter: June 2021 We have published our latest Global Payments Newsletter which reports on key developments of interest to the payments sector over the last month, including ...more
Proposed codified EU Regulation on cross-border payments: JURI draft report -
The European Parliament's Legal Affairs Committee (JURI) has published a draft report containing a draft European Parliament legislative...more
Resolution assessments: PRA PS10/21 on amendments to reporting and disclosure dates -
Following its consultation in CP19/20, the UK Prudential Regulation Authority (PRA) has published a policy statement, PS10/21, on...more
6/8/2021
/ Banks ,
Basel Committee on Banking Supervision (BCBS) ,
Capital Requirements ,
Capital Requirements Regulation (CRR) ,
Disclosure Requirements ,
EU ,
Implementing Technical Standards (ITS) ,
Non-Performing Loans (NPL) ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
UK
UCITS funds: HM Treasury announces extension of PRIIPs exemption -
HM Treasury has announced that the current exemption for Undertakings for the Collective Investment in Transferable Securities (UCITS) funds from the...more
DvP clients: FCA and PRA Dear CRO letter on counterparty credit exposure management and controls -
The UK Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) have published a letter to chief risk...more
6/8/2021
/ Clearing Agencies ,
Counterparty Risk ,
CSDR ,
Dear CEO Letter ,
EMIR ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Investor Protection ,
MiFID ,
MiFIR ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Securities Regulation ,
Securitization ,
SFTR ,
UK
GBP transition to SONIA under Solvency II regime: PRA PS12/21 -
The UK Prudential Regulation Authority (PRA) has published a policy statement, PS12/21, on deep, liquid and transparent (DLT) assessments and GBP transition to...more
SMCR: PRA PS11/21 and FCA Handbook Notice 88 on temporary, long-term absences -
The UK Prudential Regulation Authority (PRA) has published a policy statement, PS11/21, which confirms its final policy relating to temporary,...more
6/7/2021
/ Cryptoassets ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Instruments ,
Financial Services Industry ,
Prudential Regulation Authority (PRA) ,
RegTech ,
Regulatory Agenda ,
SMCR ,
UK
US-UK financial regulatory working group joint statement -
HM Treasury has published a joint statement by the US-UK Financial Regulatory Working Group following its fourth meeting, which was held virtually on 20 May 2021....more
FCA consumer credit information sheets updated -
The UK Financial Conduct Authority (FCA) has updated its webpage on consumer credit information sheets to announce the publication of revised information sheets relating to: ...more
Civil Liability Act 2018 (Financial Conduct Authority) (Whiplash) Regulations 2021 -
The Civil Liability Act 2018 (Financial Conduct Authority) (Whiplash) Regulations 2021 (SI 2021/594) have been published, together with an...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
6/1/2021
/ Bank Recovery and Resolution Directive (BRRD) ,
Capital Requirements Regulation (CRR) ,
Consumer Financial Products ,
Coronavirus/COVID-19 ,
European Banking Authority (EBA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Infectious Diseases ,
IOSCO ,
Loans ,
MREL ,
Regulatory Agenda ,
UK
EU cross-border distribution of funds: ESMA guidelines on marketing communications -
Following its consultation in November 2020, the European Securities and Markets Authority (ESMA) has published a final report on...more
6/1/2021
/ Alternative Investment Funds ,
Asset Management ,
Collective Investment Schemes ,
ELTIF ,
EU ,
European Securities and Markets Authority (ESMA) ,
EuSEF ,
EuVECA ,
Investment Funds ,
Regulatory Agenda ,
UCITS ,
UK
UK EMIR: BoE consults on modifications to DTO to reflect interest rate benchmark reform -
The Bank of England (BoE) has published a consultation paper setting out its proposal to modify the scope of contracts that are...more
PSRs 2017: FCA deadline extension for implementing SCA -
The UK Financial Conduct Authority (FCA) has announced that it is providing firms with a further six months to implement strong customer authentication (SCA) for...more
2022/23 supervisory benchmarking exercise for capital internal models: PRA statement - The UK Prudential Regulation Authority (PRA) has published a statement on its expectations concerning the 2022 and 2023 supervisory...more
Draft Financial Markets and Insolvency (Transitional Provision) (EU Exit) (Amendment) Regulations 2021 A draft version of the Financial Markets and Insolvency (Transitional Provision) (EU Exit) (Amendment) Regulations 2021...more
5/18/2021
/ Capital Requirements Regulation (CRR) ,
CCPs ,
European Securities and Markets Authority (ESMA) ,
FICC Market Standards Board (FMSB) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Greenhouse Gas Emissions ,
IOSCO ,
MiFID ,
MiFIR ,
Regulatory Agenda ,
RTS ,
Special Purpose Acquisition Companies (SPACs) ,
UK
FCA credit broking survey -
The UK Financial Conduct Authority (FCA) has announced that it plans to send a survey to 300 credit broking firms on 20 May 2021 asking them to update the information the FCA holds on how the...more
Systemically important payment systems: ECB Regulation and Decisions -
European Central Bank (ECB) Regulation (EU) 2021/728, which amends the Regulation on oversight requirements for systemically important payment systems...more
Collections function: PRA Dear Chief Risk Officer letter -
The UK Prudential Regulation Authority (PRA) has published a letter to Chief Risk Officers (CROs) of non-systemic UK deposit takers, from Melanie Beaman, PRA...more
PRA supervision of annuity providers: BoE speech -
The Bank of England (BoE) has published a speech (and accompanying appendix), given by Charlotte Gerken, Prudential Regulation Authority (PRA) Executive Director, Insurance...more
Queen's Speech 2021 and Dormant Assets Bill -
On 11 May 2021, the Queen's Speech set out the government's legislative priorities for the next parliamentary session. ...more
Financial Services and Markets Act 2000 (Collective Investment Schemes) (Amendment) Order 2021 -
The Financial Services and Markets Act 2000 (Collective Investment Schemes) (Amendment) Order 2021 (SI 2021/566) has been...more
Financial Services Act 2021 receives Royal Assent -
The Financial Services Bill 2019-21 has received Royal Assent. Among other things, the Financial Services Act 2021...more
5/4/2021
/ Anti-Corruption ,
European Central Bank ,
False Claims Act (FCA) ,
Financial Regulatory Reform ,
Financial Services Industry ,
Green Finance ,
Legislative Agendas ,
MiFID ,
Regulatory Agenda ,
Supervisory Guidance ,
UK
BoE stress testing: 2021 Climate Biennial Exploratory Scenario update -
Reports on key recent regulatory developments focussing on banking and finance. See also our Financial institutions general regulatory news and other...more
5/4/2021
/ Bank of England ,
Bank Recovery and Resolution Directive (BRRD) ,
Capital Requirements Regulation (CRR) ,
European Banking Authority (EBA) ,
Financial Regulatory Reform ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Remuneration ,
RTS ,
Stress Tests ,
UK
Blockchain and smart contracts in insurance: EIOPA discussion paper -
Reports on recent UK and EU regulatory developments of interest to insurers and their intermediaries. See also our Financial institutions general...more