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
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
9/29/2020
/ Capital Requirements Regulation (CRR) ,
Coronavirus/COVID-19 ,
CRD IV Directive ,
EU ,
European Banking Authority (EBA) ,
European Central Bank ,
Financial Regulatory Reform ,
Financial Services Industry ,
Infectious Diseases ,
Proprietary Trading ,
Prudential Regulation Authority (PRA) ,
UK
COVID-19: FCA Dear CEO letter and consequentials hearing for BII test case -
On 18 September 2020, the UK Financial Conduct Authority (FCA) published a Dear CEO letter setting out its expectations of insurers (including...more
COVID-19: Judgment in FCA's business interruption insurance test case -
The High Court has handed down judgment in FCA v Arch Insurance (UK) Ltd and others [2020] EWHC 2448 (Comm) (15 September 2020), the test case...more
COVID-19: FCA finalised guidance for mortgage firms -
On 14 September 2020, the UK Financial Conduct Authority (FCA) published finalised guidance containing additional guidance for mortgage firms in light of COVID-19....more
9/21/2020
/ Consumer Financial Products ,
Coronavirus/COVID-19 ,
Credit ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
Infectious Diseases ,
Mortgages ,
Overdraft Fees ,
Regulatory Oversight ,
UK ,
Unsecured Debt
Debt Respite Scheme (Breathing Space Moratorium and Mental Health Crisis Moratorium) (England and Wales) Regulations 2020: revised draft -
A revised draft version of the Debt Respite Scheme (Breathing Space Moratorium and...more
COVID-19: business interruption insurance test case judgment due on 15 September 2020 -
On 9 September 2020, the UK Financial Conduct Authority (FCA) updated its webpage on the High Court business interruption insurance...more
9/15/2020
/ Business Interruption ,
Commercial Insurance Policies ,
Consumer Insurance Products ,
Coronavirus/COVID-19 ,
Critical Infrastructure Sectors ,
Financial Conduct Authority (FCA) ,
IAIS ,
Infectious Diseases ,
Insurance Regulations ,
Investment ,
UK
COVID-19: phased ending of FCA temporary relief extending deadlines for publishing fund reports and accounts -
On 9 September 2020, the UK Financial Conduct Authority (FCA) updated its COVID-19-related webpage on...more
9/15/2020
/ Coronavirus/COVID-19 ,
European Securities and Markets Authority (ESMA) ,
Filing Deadlines ,
Financial Conduct Authority (FCA) ,
Fund Managers ,
Infectious Diseases ,
Regulatory Requirements ,
Relief Measures ,
Reporting Requirements ,
UCITS ,
UK
PRA PS20/20: response to CP3/20 occasional paper -
Following its March 2020 occasional consultation paper (CP3/20), the UK Prudential Regulation Authority (PRA) has published a policy statement, PS20/20, setting out its...more
9/15/2020
/ AML/CFT ,
Coronavirus/COVID-19 ,
EU ,
European Banking Authority (EBA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Markets ,
FinCEN ,
Infectious Diseases ,
Policy Statement ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Securities Financing Transactions (SFTs) ,
UK
Open-ended funds: FCA and BoE review survey on liquidity mismatch -
On 26 August 2020, the UK Financial Conduct Authority (FCA) updated its COVID-19 webpage to announce that it has launched a joint survey with the Bank of...more
9/8/2020
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Asset Management ,
Bank of England ,
Coronavirus/COVID-19 ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Infectious Diseases ,
Investment Funds ,
MMF ,
Open-Ended Fund Companies (OFCs) ,
UK
COVID-19: final transcripts of FCA business interruption insurance test case -
On 18 August 2020, the FCA updated its webpage on the High Court business interruption insurance test case to link to the final transcripts for...more
COVID-19: PRA statement on application of IFRS 9 and capital requirements as mortgage payment deferrals come to an end -
On 26 August 2020, the UK Prudential Regulation Authority (PRA) published a statement to clarify its...more
9/8/2020
/ Bank Recovery and Resolution Directive (BRRD) ,
Capital Requirements Regulation (CRR) ,
Coronavirus/COVID-19 ,
European Banking Authority (EBA) ,
Financial Regulatory Reform ,
IFRS ,
Infectious Diseases ,
Libor ,
Prudential Regulation Authority (PRA) ,
RTS ,
Sterling Overnight Index Average (SONIA) ,
UK
COVID-19: IAIS extends deadline for consultation on impact of COVID-19 -
On 12 August 2020, the International Association of Insurance Supervisors (IAIS) updated its current consultations webpage to announce an extension...more
COVID-19: PRA suspends guidance levels on fixed rate lending limits for non-systemic building societies -
On 11 August 2020, the UK Prudential Regulation Authority (PRA) published a letter (dated 31 July 2020) sent from...more
COVID-19: FCA guidance for insurance and premium finance firms on customers in temporary financial difficulty -
On 11 August 2020, the UK Financial Conduct Authority (FCA) published updated finalised guidance setting out...more
8/14/2020
/ AML/CFT ,
Coronavirus/COVID-19 ,
Dear CEO Letter ,
EU ,
European Banking Authority (EBA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Investment ,
RegTech ,
Regulatory Agenda ,
UK
AML/CTF supervision: HM Treasury annual report -
The Bank of England (BoE) has published the Financial Stability Report for August 2020 and the financial policy summary and record of the meetings of its Financial Policy...more
High-cost credit: FCA review into relending -
The UK Financial Conduct Authority (FCA) has published its findings following a review, which was carried out before the coronavirus pandemic, into relending by firms offering...more
COVID-19: FCA statement on non-damage BI settlements and deductions relating to government support -
The UK Financial Conduct Authority (FCA) has published a statement on non-damage business insurance (BI) settlements and...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
8/4/2020
/ Bank Recovery and Resolution Directive (BRRD) ,
Business Continuity Plans ,
Coronavirus/COVID-19 ,
Distressed Debt ,
EU ,
European Banking Authority (EBA) ,
European Central Bank ,
Implementing Technical Standards (ITS) ,
MREL ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Remuneration ,
RTS ,
UK
Title transfer collateral arrangements: FCA Dear CEO letter -
The UK Financial Conduct Authority (FCA) has published a Dear CEO letter to firms acting as brokers in wholesale financial markets, who currently, or may in the...more
8/4/2020
/ Coronavirus/COVID-19 ,
CSDR ,
Dear CEO Letter ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Libor ,
MiFID ,
MiFIR ,
RTS ,
Securities Regulation ,
UK
COVID-19: IAIS consults on the impact for the insurance sector.
The UK Prudential Regulation Authority (PRA) has published a consultation paper, CP11/20, setting out its expectations and guidance relating to auditors' work...more
COVID-19: FCA call for input on ongoing support for mortgage and consumer credit customers.The UK Financial Conduct Authority (FCA) has published a consultation paper, CP20/13, setting out proposals designed to support...more
COVID-19: FCA guidance consultation on cancellations and refunds -
On 31 July 2020, the UK Financial Conduct Authority (FCA) published a guidance consultation on cancellation (for example, of holidays and events) and...more
8/4/2020
/ Coronavirus/COVID-19 ,
Cryptoassets ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
MiFID II ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Prudential Regulation Authority (PRA) ,
UK ,
UK Brexit
COVID-19: FCA updates on business interruption insurance test case -
The UK Financial Conduct Authority (FCA) has published a number of updates to its webpage on the High Court test case concerning business interruption...more
Role of investment managers in post-COVID-19 recovery: FCA speech -
The UK Financial Conduct Authority (FCA) has published a speech by Christopher Woolard, FCA Interim Chief Executive, on the role of investment managers in...more
7/21/2020
/ Asset Management ,
Coronavirus/COVID-19 ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Investment Funds ,
Investment Management ,
Liquidity ,
Money Market Funds ,
Recovery Plans ,
UK