The Standard Formula Podcast | Insurers in Difficulty: Staying Compliant Under Solvency II
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[WEBINAR] Public Records Act - Taming the Email Tiger
The European Commission has published a report on the future of European competitiveness, prepared by Mario Draghi, former President of the European Central Bank. The report aims to set out a new industrial strategy for...more
Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. Key developments in August 2022: 24 August - The Financial Conduct Authority...more
Key developments in April 2022: 29 April - The Financial Stability Board (“FSB”) published for consultation an interim report that recommends measures to assist supervisory and regulatory authorities in developing...more
Depositor protection identity verification: PRA PS4/21 - Following its consultation in CP3/21, the UK Prudential Regulation Authority (PRA) has published a policy statement, PS4/21, on depositor protection identity...more
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
Proprietary trading review: PRA report - The UK Prudential Regulation Authority (PRA) has published a report on the outcome of its proprietary trading review. The review was required under section 9 of the Financial...more
The European Central Bank, Banking Supervision division has published a guideline harmonizing the threshold for assessing the materiality of credit obligations past due for the purposes of default assessments under the EU...more
30 July - The Financial Conduct Authority (“FCA”) updated its webpage on the High Court business interruption insurance test case. The Prudential Regulation Authority (“PRA”) published a consultation paper (CP11/20)...more
Business continuity: SRB operational guidance on operational continuity in resolution and FMI contingency plans. The UK Prudential Regulation Authority (PRA) has published a policy statement, PS18/20, and the following...more
Recent regulatory development focussing on banking and finance. Includes updates relating to COVID-19 regulatory response, CRR, and more....more
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
On 5 December 2019 the Bank of England (Bank), UK Prudential Regulation Authority (PRA) and UK Financial Conduct Authority (FCA) published coordinated consultation papers and policy on new requirements to strengthen...more
1 November - The Prudential Regulation Authority ("PRA") published a Dear CEO letter in relation to the reliability of regulatory returns. Firms are expected, if asked, to be able to respond promptly to a request from...more
1 July - The Financial Conduct Authority ("FCA") published a policy statement (PS19/19) setting out the final 2019/20 regulatory fees and levies. The European Insurance and Occupational Pensions Authority ("EIOPA")...more
Six months have now passed since publication of the Dechert OnPoint, LIBOR – Where Are We Now?, and in that period progress on benchmark reform and the development of alternative risk-free-rates (RFRs) has gathered pace. At a...more
The Prudential Regulation Authority ("PRA") published its Regulatory Digest for August 2018 in which it highlighted key regulatory news including reference to a new insurer start-up unit ("NISU") that the PRA and the...more
3 April - The Financial Conduct Authority ("FCA") published a press release, warning that it intends to take action against general insurance firms that fail to properly implement the rules aimed at increasing...more
BREXIT - Please see the “Other” section for an update on the Joint Committee of ESAs’ report on the risks and vulnerabilities in EU financial system. CBI publishes report on the future of UK regulation On 11 April,...more
This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including new U.K. reporting obligations for sanctions violations,...more
BREXIT - UK Finance proposes model for post-Brexit financial services under EU-UK trade agreement - On 16 November, UK Finance published a report entitled "Supporting Europe's economies and citizens: a modern approach...more
The FCA and PRA announced changes to enforcement process with the aim of strengthening the transparency and effectiveness of enforcement decision-making processes. Some of the changes have already come into force, the rest...more