On July 15th, the UK Government published the final version of its Financial Services Growth and Competitiveness Strategy (the Strategy). The Strategy aims to “[roll] back regulation that had gone too far in seeking to...more
The UK’s Prudential Regulation Authority (“PRA”) has published its final rules and policies in relation to its approach to supervising branches and subsidiaries of international banks headquartered, or part of a group based,...more
The UK’s Prudential Regulation Authority ("PRA") has recently published various statements regarding its current approach to its regulation of banking in the UK, including delaying implementation of Basel 3.1 rules....more
The UK’s Financial Conduct Authority (“FCA”) and Prudential Regulation Authority (“PRA”) have issued a joint policy statement on their guidelines for the prudential assessment of acquisitions and increases in qualifying...more
The UK’s Prudential Regulation Authority (“PRA”) has issued a consultation paper on proposals for rules and expectations for regulated firms to report operational incidents and material third-party arrangements (the “CP”) in...more
The UK’s Financial Conduct Authority ("FCA") and Prudential Regulation Authority ("PRA") have issued a joint consultation aimed at making dual-regulated firms’ remuneration regimes more effective, simple and proportionate...more
In Discussion Paper DP 13/24, the UK’s Prudential Regulation Authority ("PRA") has set out its near-final proposals to restate the relevant provisions in the assimilated Capital Requirements Regulation (the "CRR") in the PRA...more
On 12 September 2024, the UK’s banking regulator, the Prudential Regulation Authority ("PRA") published its second policy statement on implementation of the Basel 3.1 standards in the form of near-final rules (PS9/24). This...more
The UK’s banking regulator, the Prudential Regulation Authority ("PRA") has issued a consultation on its approach to the treatment of branches of international banks operating in the UK (CP11/24). Among the proposals is a...more
The UK’s Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) have published updated Q&A covering changes to the UK European Market Infrastructure Regulation (UK EMIR) reporting requirements that go...more
On 30 April 2024, the Financial Conduct Authority (the “FCA”) published Policy Statement PS24/4 (“PS24/4”) setting out the final FCA Securitisation Sourcebook (“SECN”). Subject to the repeal of the Securitisation Regulation...more
6/7/2024
/ Asset Management ,
Due Diligence ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Hedging ,
Investors ,
New Legislation ,
New Rules ,
Prudential Regulation Authority (PRA) ,
Risk Retention ,
Securitization ,
UK
On 23 April, the UK’s banking regulator, the Prudential Regulation Authority (“PRA”), published a letter to Chief Risk Officers setting out the results of a thematic review of private equity related financing activities....more
The UK’s Prudential Regulation Authority (“PRA”) has reported on the conclusions of a review of its ring-fencing rules conducted during the course of 2023. While the report concludes that most rules are ‘performing...more
Following up on a consultation in July 2023 here, the post-Brexit replacement of Regulation (EU) 2017/2402 of the European Parliament and of the Council ("Sec Reg"), the UK Securitisation Regulations 2024 (SI 2024/102) ("SI")...more
Rebecca Jackson, Executive Director, Authorisations, Regulatory Technology, and International Supervision at the Prudential Regulation Authority ("PRA") has written to international banks on the PRA’s thematic supervision...more
The Prudential Regulation Authority ("PRA") has published its near-final policy statement (the "PS") setting out feedback to seven chapters of its consultation paper 16/22 (CP16/22) on implementation of the final elements of...more
The UK’s banking regulator, the Prudential Regulation Authority (“PRA”) has published a Discussion Paper (DP3/23) covering securitisation bank capital in the context of: (1) the Basel 3.1 output floor and capital requirements...more
In a speech published on 16 October, Sam Woods the Deputy Governor for Prudential Regulation and CEO of the Prudential Regulation Authority (“PRA”) discussed this year’s banking failures, the lessons learnt and priorities...more
The UK’s Prudential Regulation Authority (“PRA”) has published a consultation paper on the ‘Capitalisation of foreign exchange positions for market risk’ (CP17/23). CP17/23 proposes changes to implement upcoming Basel 3.1...more
The UK’s Financial Conduct Authority and Prudential Regulation Authority have released a joint consultation on new regulatory framework on diversity and inclusion. This article focuses on the FCA’s Consultation Paper CP23/20....more
The UK’s banking regulator, the Prudential Regulation Authority (“PRA”) has announced its intention to move the implementation date of the final Basel 3.1 policies by six months to 1 July 2025 and commensurately reduce the...more
In Consultation Paper 13/23 (CP 13/23), the UK’s Prudential Regulation Authority (“PRA”) sets out its “Margin requirements for non-centrally cleared derivatives: Amendments to BTS 2016/2251.”...more
Background -
Following closely behind the consultation paper from the Prudential Regulation Authority (“PRA”) (for more discussion see our briefing of 1 August), the UK’s Financial Conduct Authority (“FCA”) has published...more
The Prudential Regulation Authority (“PRA”) has published Consultation Paper 15/23 – Securitisation: General requirements (“CP 15/23”) setting out its proposed rules to replace retained EU law requirements on...more
8/3/2023
/ Comment Period ,
Financial Regulatory Reform ,
Financial Services Industry ,
FSMA ,
Institutional Investors ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Regulatory Standards ,
Securitization ,
Securitization Market ,
Securitization Standards ,
UK
Against a background of increasing reliance on models and scenario analysis to assess future risks, the UK’s bank regulator, the Prudential Regulation Authority (“PRA”), has published a supervisory statement on “Model risk...more