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 to confirm that an appeal of the case...more
Debt Breathing Space Regulations: FCA CP20/21 -
The UK Financial Conduct Authority (FCA) has published a consultation paper, CP20/21, on changes to its Handbook resulting from the Debt Respite Scheme (Breathing Space...more
Payments landscape review: FMLC response to HM Treasury call for evidence -
The Financial Markets Law Committee (FMLC) has published response to HM Treasury's call for evidence, launched in July 2020 as part of the payments...more
Implementation of CRD V: PRA CP17/20 -
The UK Prudential Regulation Authority (PRA) has published a consultation paper, CP17/20, setting out proposed changes to its rules, supervisory statements (SS) and statements of...more
10/26/2020
/ Capital Requirements Regulation (CRR) ,
CRD V ,
European Banking Authority (EBA) ,
Financial Conduct Authority (FCA) ,
Financial Crimes ,
Financial Regulatory Reform ,
Financial Services Industry ,
Money Laundering ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
UK
COVID-19: FCA proposes additional guidance for insurance and premium finance firms on customers in financial difficulty -
The FCA has published draft additional guidance for insurance and premium finance firms, setting...more
10/26/2020
/ Coronavirus/COVID-19 ,
ESRB ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FSB ,
HM Treasury ,
Infectious Diseases ,
Libor ,
UK ,
Whistleblowers
BoE and CFTC MoU for supervision of cross-border clearing organisations -
The Bank of England (BoE) and the US Commodity Futures Trading Commission (CFTC) have signed an updated memorandum of understanding (MoU) regarding...more
10/26/2020
/ Bank of England ,
Central Counterparties ,
CFTC ,
EMIR ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
HM Treasury ,
Libor ,
RTS ,
Securities Regulation ,
UK ,
UK Brexit
Brexit: PRA and FCA Dear CEO letter on final preparations for end of transition period -
The UK Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) have published a joint Dear CEO letter that they...more
Brexit: HM Treasury update on financial services Brexit statutory instruments
HM Treasury has published an update on its work relating to statutory instruments (SIs) laid, or to be laid, under the European Union (Withdrawal)...more
10/20/2020
/ Big Tech ,
Coronavirus/COVID-19 ,
Dear CEO Letter ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Financial Transactions ,
FSB ,
Infectious Diseases ,
Office of Financial Sanctions Implementation (OFSI) ,
Prudential Regulation Authority (PRA) ,
RegTech ,
Regulatory Agenda ,
Securitization ,
Stablecoins ,
UK ,
UK Brexit
ISO 20022 migration: BoE revised approach The Bank of England (BoE) has updated its webpage on ISO 20022 with the following information. -
ISO 20022 migration: BoE revised approach -
The Bank of England (BoE) has updated...more
Building guarantee policies: PRA PS21/20 on extending policyholder protection -
The UK Prudential Regulation Authority (PRA) has published a policy statement, PS21/20, which contains a rule change to increase protection...more
10/20/2020
/ Consumer Insurance Products ,
Coronavirus/COVID-19 ,
EIOPA ,
IAIS ,
Infectious Diseases ,
Insurance Regulations ,
Lloyds of London ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Solvency II ,
UK
ISDA 2020 IBOR Fallbacks Protocol to be launched on 23 October 2020 -
The International Swaps and Derivatives Association, Inc. (ISDA) has announced that the ISDA 2020 IBOR Fallbacks Protocol, which is designed to assist...more
10/20/2020
/ Crowdfunding ,
EU ,
Financial Markets ,
Inter-Bank Offered Rates (IBORs) ,
ISDA ,
MiFID II ,
Ofgem ,
Regulatory Agenda ,
REMIT ,
Securities Regulation ,
UK
ESMA guidelines on liquidity stress testing in UCITS and AIFs: FCA comment -
Among other things covered in its latest Regulation round-up, the UK Financial Conduct Authority (FCA) comments on the European Securities and...more
COVID-19: FCA speech on mortgages and positive consumer outcomes -
On 8 October 2020, the UK Financial Conduct Authority (FCA) published a speech given by Jonathan Davidson, FCA Executive Director of Supervision - Retail...more
Climate-related disclosures for asset managers and FCA-regulated pension schemes: FCA correspondence -
Correspondence about climate-related disclosure requirements for asset managers and UK Financial Conduct Authority...more
MiFIR: FCA statement on trade reporting and position limit obligations -
The UK Financial Conduct Authority (FCA) has published a statement on trade reporting and position limit obligations under the Markets in Financial...more
COVID-19: FCA updates webpage on BI insurance test case -
The UK Financial Conduct Authority (FCA) has updated its webpage on its business interruption (BI) insurance test case, publishing a draft transcript of the...more
10/13/2020
/ Business Interruption ,
Commercial General Liability Policies ,
Coronavirus/COVID-19 ,
EIOPA ,
Financial Conduct Authority (FCA) ,
Infectious Diseases ,
Insurance Claims ,
Insurance Regulations ,
ORSA ,
Policy Terms ,
Solvency II ,
Travel Insurance ,
UK
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
10/13/2020
/ Banks ,
Capital Requirements ,
Coronavirus/COVID-19 ,
CRD IV Directive ,
Credit Unions ,
EU ,
European Banking Authority (EBA) ,
Infectious Diseases ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Regulatory Requirements ,
Systemic Risk Buffer ,
UK
Brexit: HM Treasury responds to questions on post-Brexit future relationship in financial services -
The House of Lords EU Services Sub-Committee has published a letter it has received from John Glen, Economic Secretary...more
10/13/2020
/ Coronavirus/COVID-19 ,
Credit Cards ,
Debit Cards ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Policy Committee ,
Financial Services Industry ,
Infectious Diseases ,
Investment Products ,
Refunds ,
UK ,
UK Brexit
Brexit: FCA reopens temporary permissions regime notification window -
The UK Financial Conduct Authority (FCA) has updated its webpage on the temporary permissions regime (TPR) explaining that EEA firms and fund managers...more
10/6/2020
/ Bank of England ,
Coronavirus/COVID-19 ,
Dear CEO Letter ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Infectious Diseases ,
Prudential Regulation Authority (PRA) ,
Transitional Arrangements ,
TTP ,
UK ,
UK Brexit
IRB UK mortgage risk weights: PRA CP14/20 -
The UK Prudential Regulation Authority (PRA) has published a consultation paper, CP14/20, on proposals to introduce new expectations on internal ratings based (IRB) approach UK...more
10/6/2020
/ AML/CFT ,
Bank Recovery and Resolution Directive (BRRD) ,
Capital Requirements Regulation (CRR) ,
EU ,
European Banking Authority (EBA) ,
Financial Instruments ,
IRB ,
Mortgages ,
Prudential Regulation Authority (PRA) ,
Risk Assessment ,
UK
COVID-19: additional FCA finalised guidance on consumer credit and overdrafts -
Following a short consultation, on 30 September 2020, the UK Financial Conduct Authority (FCA) published finalised guidance setting out...more
Future strategy review: PSR requests input on three themes -
The UK Payment Systems Regulator (PSR) is working on defining its future strategy. It has published webpages requesting input on three themes...more
COVID-19: HM Treasury letter on insurance companies' deductions of government grants from BI insurance claims -
On 25 September 2020, HM Treasury published a letter from John Glen, Economic Secretary to HM Treasury, to Huw...more
10/6/2020
/ Business Interruption ,
Coronavirus/COVID-19 ,
Dear CEO Letter ,
EIOPA ,
Financial Conduct Authority (FCA) ,
HM Treasury ,
Infectious Diseases ,
Insurance Claims ,
Prudential Regulation Authority (PRA) ,
Solvency II ,
UK
Brexit: ESMA to recognise three UK CCPS from 1 January 2021 -
The European Securities and Markets Authority (ESMA) has announced that three central counterparties (CCPs) established in the UK will be recognized as...more
10/6/2020
/ EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Inter-Bank Offered Rates (IBORs) ,
ISDA ,
Libor ,
MiFID ,
MiFIR ,
REMIT ,
RTS ,
Sterling Overnight Index Average (SONIA) ,
UK ,
UK Brexit
Draft Bearer Certificates (Collective Investment Schemes) Regulations 2020 -
A draft version of the Bearer Certificates (Collective Investment Schemes) Regulations 2020 have been published, together with an explanatory...more