Draft Bank of England Act 1998 (Macro-prudential Measures) (Amendment) Order 2021 published A draft version of the Bank of England Act 1998 (Macro-prudential Measures) (Amendment) Order 2021 has been published, together with...more
6/21/2021
/ Bank Recovery and Resolution Directive (BRRD) ,
Banking Sector ,
Banks ,
Capital Requirements Regulation (CRR) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Prudential Regulation Authority (PRA) ,
Single Supervisory Mechanism ,
UK
Financial Services Act 2021 (Commencement No 1) Regulations 2021 The Financial Services Act 2021 (Commencement No 1) Regulations 2021 (SI 2021/671) have been published. SI 2021/671 is a commencement regulation made under the...more
DvP clients: FCA and PRA Dear CRO letter on counterparty credit exposure management and controls -
The UK Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) have published a letter to chief risk...more
6/8/2021
/ Clearing Agencies ,
Counterparty Risk ,
CSDR ,
Dear CEO Letter ,
EMIR ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Investor Protection ,
MiFID ,
MiFIR ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Securities Regulation ,
Securitization ,
SFTR ,
UK
GBP transition to SONIA under Solvency II regime: PRA PS12/21 -
The UK Prudential Regulation Authority (PRA) has published a policy statement, PS12/21, on deep, liquid and transparent (DLT) assessments and GBP transition to...more
SMCR: PRA PS11/21 and FCA Handbook Notice 88 on temporary, long-term absences -
The UK Prudential Regulation Authority (PRA) has published a policy statement, PS11/21, which confirms its final policy relating to temporary,...more
6/7/2021
/ Cryptoassets ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Instruments ,
Financial Services Industry ,
Prudential Regulation Authority (PRA) ,
RegTech ,
Regulatory Agenda ,
SMCR ,
UK
FCA consumer credit information sheets updated -
The UK Financial Conduct Authority (FCA) has updated its webpage on consumer credit information sheets to announce the publication of revised information sheets relating to: ...more
Civil Liability Act 2018 (Financial Conduct Authority) (Whiplash) Regulations 2021 -
The Civil Liability Act 2018 (Financial Conduct Authority) (Whiplash) Regulations 2021 (SI 2021/594) have been published, together with an...more
COVID-19: FCA statement on regulatory treatment of Recovery Loan Scheme -
The FCA has published a statement on the regulatory treatment of the UK Recovery Loan Scheme (RLS), which was launched on 6 April 2021 as part of the...more
6/1/2021
/ Bank Recovery and Resolution Directive (BRRD) ,
Capital Requirements Regulation (CRR) ,
Consumer Financial Products ,
Coronavirus/COVID-19 ,
European Banking Authority (EBA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Infectious Diseases ,
IOSCO ,
Loans ,
MREL ,
Regulatory Agenda ,
UK
Climate change: BoE speech on course to net zero - The Bank of England (BoE) has published a speech by Sarah Breeden, Executive Director, UK Deposit Takers Supervision in which she talks about how financial services firms in...more
Draft Financial Markets and Insolvency (Transitional Provision) (EU Exit) (Amendment) Regulations 2021 A draft version of the Financial Markets and Insolvency (Transitional Provision) (EU Exit) (Amendment) Regulations 2021...more
5/18/2021
/ Capital Requirements Regulation (CRR) ,
CCPs ,
European Securities and Markets Authority (ESMA) ,
FICC Market Standards Board (FMSB) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Greenhouse Gas Emissions ,
IOSCO ,
MiFID ,
MiFIR ,
Regulatory Agenda ,
RTS ,
Special Purpose Acquisition Companies (SPACs) ,
UK
FCA credit broking survey -
The UK Financial Conduct Authority (FCA) has announced that it plans to send a survey to 300 credit broking firms on 20 May 2021 asking them to update the information the FCA holds on how the...more
PRA supervision of annuity providers: BoE speech -
The Bank of England (BoE) has published a speech (and accompanying appendix), given by Charlotte Gerken, Prudential Regulation Authority (PRA) Executive Director, Insurance...more
Queen's Speech 2021 and Dormant Assets Bill -
On 11 May 2021, the Queen's Speech set out the government's legislative priorities for the next parliamentary session. ...more
Financial Services and Markets Act 2000 (Collective Investment Schemes) (Amendment) Order 2021 -
The Financial Services and Markets Act 2000 (Collective Investment Schemes) (Amendment) Order 2021 (SI 2021/566) has been...more
The Financial Conduct Authority (FCA) has published a consultation paper, CP21/9, on some initial changes to its conduct and organisational requirements implementing the EU Markets in Financial Instruments Directive (MiFID...more
The Financial Conduct Authority (FCA) is contacting thousands of firms across various sectors that appear to have missed the 31 March 2021 deadline for submitting “Directory person” data.
...more
FCA approach to handling of Connaught complaints about FSA/FCA -Following the report of Raj Parker's "Independent Review into the FSA and FCA's handling of the Connaught Income Fund Series 2 and connected companies", the...more
Solvency II: PRA supervisory disclosures -
The UK Prudential Regulation Authority (PRA) has published Solvency II: Supervisory disclosures, PRA’s supervisory approach and insurance regulations applicable in the UK year-end...more
Recent regulatory developments of interest to most financial institutions, including updates from the UK government, PRA, FCA, JMLG and the European Commission. See also our sector specific updates in the Related Materials...more
4/26/2021
/ Banks ,
Capital Requirements Regulation (CRR) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
Legislative Agendas ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Retail Investors ,
Solvency II ,
UK
Financial Guidance and Claims Act 2018 (Commencement No 7) Regulations 2021 -
The Financial Guidance and Claims Act 2018 (Commencement No. 7) (Dissolution of the Consumer Financial Education Body) Regulations 2021 (SI...more
Consumer credit forms: FCA statement on post-Brexit changes - The UK Financial Conduct Authority (FCA) has published a statement and accompanying webpage relating to changes certain consumer credit firms will have to make to...more
LIBOR transition: FCA and BoE encourage switch to SONIA in sterling non-linear derivatives market -
The Financial Conduct Authority (FCA) and the Bank of England (BoE) have published a joint statement announcing that they...more
4/5/2021
/ CSDR ,
EMIR ,
European Securities and Markets Authority (ESMA) ,
FICC Market Standards Board (FMSB) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Markets ,
Financial Regulatory Reform ,
Interest Rates ,
Libor ,
MiFID ,
MiFIR ,
Regulatory Agenda ,
Securities Regulation ,
Sterling Overnight Index Average (SONIA) ,
UK
COVID-19: FCA updates mortgage guidance and reports on mortgage and consumer credit firms' implementation of tailored support guidance -
On 25 March 2021, the UK Financial Conduct Authority (FCA) published updated Finalised...more
UK-EU MoU on regulatory cooperation in financial services -
HM Treasury has announced that technical discussions on the text of the memorandum of understanding (MoU) on UK-EU regulatory cooperation in financial services have...more
4/5/2021
/ AML/CFT ,
Consumer Financial Products ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Crimes ,
Financial Institutions ,
Financial Services Industry ,
FPC ,
Insurance Regulations ,
Libor ,
Memorandum of Understanding ,
Money Laundering ,
Pensions ,
Regulatory Agenda ,
Reinsurance ,
Sterling Overnight Index Average (SONIA) ,
UK
CMA 2021/22 annual plan -
The Competition and Markets Authority (CMA) has published its annual plan for 2021/22. In 2021/22, the CMA will focus on the following themes...more
3/30/2021
/ EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
International Trade ,
Libor ,
Regulatory Agenda ,
Trade Policy ,
UK ,
UK Brexit ,
UK Competition and Markets Authority (CMA) ,
Whistleblowers