COVID-19: FCA proposes further support for credit card, personal loan and overdraft customers -
On 19 June 2020, the UK Financial Conduct Authority (FCA) published proposed updated temporary guidance for firms relating to...more
Insurance stress test 2019 and COVID-19 stress testing: FCA feedback -
The UK Prudential Regulation Authority (PRA) has published a Dear CEO letter giving feedback to general and life insurers that participated in the 2019...more
Recent regulatory developments of interest to all financial institutions. Includes updates on COVID-19, FCA guidance on assessing adequate financial resources, and European Commission draft legislation incorporating...more
6/17/2020
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Coronavirus/COVID-19 ,
ESRB ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Green Bonds ,
Libor ,
MiFID ,
Prudential Regulation Authority (PRA) ,
Solvency II ,
UCITS ,
UK ,
UK Brexit
Recent regulatory developments focussing on banking and finance. This week reports on the EBA's consultation on draft RTS on the prudential treatment of software assets....more
Recent regulatory developments of interest to financial institutions and markets. Includes updates relating to MAR, MiFIR, EMIR, short selling, and more....more
Recent regulatory developments of interest to insurers and their intermediaries. Includes FCA update on COVID-19 business interruption insurance test case and EIOPA discussion paper on insurance value chain and new business...more
COVID-19: FCA speech on expectations of wealth management and advice industry -
On 4 June 2020, the UK Financial Conduct Authority (FCA) published a speech by Megan Butler, FCA Executive Director of Supervision,...more
6/10/2020
/ AML/CFT ,
Coronavirus/COVID-19 ,
Data Collection ,
ECON ,
European Banking Authority (EBA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Implementing Technical Standards (ITS) ,
Interim Final Rules (IFR) ,
Investment ,
Libor ,
Pensions ,
Prudential Regulation Authority (PRA) ,
RTS ,
UK ,
UK Brexit ,
Wealth Management
Request to Pay: Pay.UK launches rules and standards framework -
Pay.UK has launched the Request to Pay Framework — the message standards, rules, and terms and conditions for the development of Request to Pay services. The...more
Recent regulatory developments relating to consumer finance of interest to financial institutions. Regulatory news of general application and other sector specific regulatory updates are available as related documents....more
COVID-19: FCA FS20/7 and final guidance on assessing value of insurance products -
Following consultation, on 3 June 2020, the UK Financial Conduct Authority (FCA) published a feedback statement, FS20/7, and final guidance...more
Recent regulatory developments of interest to financial institutions and markets. Includes the extension of the senior managers regime to benchmark administrators, updates relating to MiFID II, EMIR, ESMA's draft guidelines...more
6/9/2020
/ Bank of England ,
Cloud Service Providers (CSPs) ,
EMIR ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Inter-Bank Offered Rates (IBORs) ,
MiFID II ,
RTS ,
UK
COVID-19: PRA Dear CEO letter on treatment of payment deferrals under IFRS 9 and CRR -
On 4 June 2020, the UK Prudential Regulation Authority (PRA) published a Dear CEO letter on International Financial Reporting Standard...more
6/9/2020
/ Basel Committee on Banking Supervision (BCBS) ,
Capital Requirements Regulation (CRR) ,
Coronavirus/COVID-19 ,
CRD IV Directive ,
EU ,
European Banking Authority (EBA) ,
Financial Markets ,
IFRS ,
Prudential Regulation Authority (PRA) ,
RTS ,
Single Resolution Board ,
Supervisory Highlights ,
UK
The current situation is fast-moving in light of the COVID-19 pandemic. Many financial supervisory and regulatory authorities as well as local governments have issued measures which are relevant for financial institutions...more
4/28/2020
/ Basel Committee on Banking Supervision (BCBS) ,
Capital Requirements ,
EU ,
European Central Bank ,
Federal Reserve ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
FSB ,
IOSCO ,
Loans ,
Prudential Regulation Authority (PRA) ,
Regulatory Requirements ,
Short Selling ,
UK
COVID-19: PRA letter to credit unions and direction modifying minimum provisioning requirements -
On 8 April 2020, the Prudential Regulation Authority (PRA) published a letter to directors, staff members and volunteers of...more
4/9/2020
/ Banks ,
Basel Committee on Banking Supervision (BCBS) ,
Basel III ,
Coronavirus/COVID-19 ,
EU ,
European Banking Authority (EBA) ,
Financial Institutions ,
Financial Services Industry ,
Liquidity ,
Prudential Regulation Authority (PRA) ,
UK
FCA 2020/21 business plan -
The Financial Conduct Authority (FCA) has published its 2020/21 business plan setting out its business priorities for the year ahead. The FCA's immediate focus is to address the challenges...more
COVID-19: FCA FS20/3 confirms temporary financial relief for consumer credit customers -
The Financial Conduct Authority (FCA) has published its final rules and guidance, FS20/3, confirming a package of targeted temporary...more
COVID-19: FCA expectations for funds -
On 9 April 2020, the Financial Conduct Authority (FCA) published a webpage setting out its expectations regarding funds in light of COVID-19. The FCA acknowledges the significant...more
Funding no-blame APP scams: PSR considers options -
The Payment Systems Regulator (PSR) has published slides and speaker notes of Chris Hemsley, PSR Managing Director, for a call on authorised push payment (APP) scams,...more
COVID-19: PRA statement on decision by insurance companies to pause dividends -
On 8 April 2020, the Prudential Regulation Authority (PRA) published a statement welcoming the prudent decision of some insurance firms to...more
COVID-19: FCA update on strong customer authentication under PSRs 2017 -
On 31 March 2020, the FCA updated its webpage on strong customer authentication (SCA) under the Payment Services Regulations 2017. ...more
COVID-19: FCA consumer credit temporary relief measures -
On 2 April 2020, the UK Financial Conduct Authority (FCA) launched consultations on a range of targeted temporary relief proposals to help credit card, store card,...more
COVID-19: EBA statement on actions to mitigate financial crime risks -
On 31 March 2020, the European Banking Authority (EBA) published a statement on actions to mitigate financial crime risks in light of COVID-19....more
ESMA publishes guidance on performance fees in UCITS and certain AIFs Following consultation, the European Securities and Markets Authority -
(ESMA) has published its final report on performance fees in investment funds,...more
COVID-19: FCA updates statement on short selling bans and reporting -
On 31 March 2020, the UK Financial Conduct Authority (FCA) updated its webpage on short selling bans and reporting to confirm that the required changes...more
COVID-19: PRA and FCA statement on SMCR expectations of dual-regulated firms -
On 3 April 2020, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) published a joint statement on their...more