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
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
12/7/2020
/ Bank Recovery and Resolution Directive (BRRD) ,
Basel Committee on Banking Supervision (BCBS) ,
Capital Requirements Regulation (CRR) ,
Coronavirus/COVID-19 ,
CRD V ,
European Banking Authority (EBA) ,
European Central Bank ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
Financial Services Industry ,
Holding Companies ,
Infectious Diseases ,
Moratorium ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Sharia Law ,
UK ,
UK Brexit
TMPR: FCA webpage on adding new sub-fund to umbrella scheme -
The UK Financial Conduct Authority (FCA) has published a new webpage on adding a new sub-fund to an umbrella scheme that will be in the temporary marketing...more
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
Draft Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2020 -
A draft version of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2020 has been...more
11/30/2020
/ Bank of England ,
Coronavirus/COVID-19 ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
FSB ,
FSCS ,
G20 ,
Green Finance ,
Infectious Diseases ,
Libor ,
UK
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
COVID-19: FCA update on business interruption insurance test case -
The UK Financial Conduct Authority (FCA) has updated its webpage on its business interruption insurance test case. Among other things, the FCA has...more
Debt Respite Scheme (Breathing Space Moratorium and Mental Health Crisis Moratorium) (England and Wales) Regulations 2020 -
The Debt Respite Scheme (Breathing Space Moratorium and Mental Health Crisis Moratorium) (England...more
11/23/2020
/ Coronavirus/COVID-19 ,
Debt ,
Debt Collection ,
Financial Conduct Authority (FCA) ,
Infectious Diseases ,
Mental Health ,
Moratorium ,
Mortgages ,
Regulatory Agenda ,
Relief Measures ,
UK
CRD V and BRRD II-derived UK legislation: PRA statement on application of temporary transitional power -
The UK Prudential Regulation Authority (PRA) has published a statement on the application of its temporary...more
Brexit: UK equivalence decisions for EEA states -
HM Treasury has announced its intention to make equivalence decisions in respect of the EEA across a number of financial services areas. ...more
11/16/2020
/ Coronavirus/COVID-19 ,
EU ,
European Economic Area (EEA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
FSB ,
Infectious Diseases ,
Prudential Regulation Authority (PRA) ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
Third-Party Relationships ,
UK ,
UK Brexit
Performance fees in UCITS and certain types of AIFs: ESMA guidelines -
The European Securities and Markets Authority (ESMA) has published the official translations for guidelines on performance fees in UCITS and certain...more
COVID-19: FCA update on business interruption insurance test case -
On 11 November 2020, the UK Financial Conduct Authority (FCA) updated the webpage on its business interruption insurance test case. ...more
EMIR: ESMA report on post-trade risk reduction services -
The European Securities and Markets Authority (ESMA) has published a report on post-trade risk reduction (PTRR) services under the European Market Infrastructure...more
11/16/2020
/ Capital Markets ,
EMIR ,
EU ,
European Benchmark Regulation (BMR) ,
European Securities and Markets Authority (ESMA) ,
Investor Protection ,
MiFID ,
MiFIR ,
SFTR ,
UK ,
UK Brexit
COVID-19: FCA updates statement on CBILS and BBLS -
On 10 November 2020, the UK Financial Conduct Authority (FCA) published an updated version of its statement on the regulation of firms in relation to the UK Coronavirus...more
11/16/2020
/ Bank Recovery and Resolution Directive (BRRD) ,
Capital Requirements Regulation (CRR) ,
Coronavirus Business Interruption Loan Scheme (CBILS) ,
Deposit Guarantee Schemes Directive (DGSD) ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
FSB ,
Global Systemically Important Banks (G-SIBs) ,
Popular ,
Regulatory Agenda ,
Single Resolution Mechanism Regulation (SRMR) ,
UK
COVID-19: Consumer Credit (Enforcement, Default and Termination Notices) (Coronavirus) (Amendment) Regulations 2020 -
On 11 November 2020, the Consumer Credit (Enforcement, Default and Termination Notices) (Coronavirus)...more
PSD2: EBA proposes changes to Guidelines on major incident reporting after latest review -
Following the European Banking Authority's (EBA's) latest required review of its July 2017 Guidelines on major incident reporting...more
COVID-19: FCA draft further guidance to support mortgage borrowers -
On 2 November 2020, the UK Financial Conduct Authority (FCA) published draft further updated guidance and draft updated additional guidance for mortgage...more
ISDA 2020 IBOR Fallbacks Protocol -
The International Swaps and Derivatives Association, Inc. (ISDA) has published the ISDA 2020 IBOR Fallbacks Protocol. Our separate client alert, ISDA 2020 IBOR Fallbacks Protocol: What...more
11/10/2020
/ CCPs ,
Coronavirus/COVID-19 ,
CSDR ,
EMIR ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Infectious Diseases ,
Inter-Bank Offered Rates (IBORs) ,
Interest Rates ,
ISDA ,
MiFID ,
Securities Regulation ,
SFTR ,
UK ,
UK Brexit
COVID-19: EFAMA updates cyber-prevention standards for investment management companies -
The European Fund and Asset Management Association (EFAMA) has published a document updating the International Investment Funds...more