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
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 and...more
6/10/2020
/ BaFin ,
Basel Committee on Banking Supervision (BCBS) ,
Capital Requirements ,
Coronavirus/COVID-19 ,
European Banking Authority (EBA) ,
European Central Bank ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Investment Funds ,
IOSCO ,
Jurisdiction ,
Liquidity ,
Short Selling ,
Small and Medium-Sized Enterprises (SMEs) ,
Supervisory Guidance ,
Transparency
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
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
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
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
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
In its 2020/21 Business Plan, the FCA states its aim to move towards a regulatory approach that's increasingly focused on end outcomes for consumers, markets and firms. The Business Plan reflects this approach, honing in on...more
4/8/2020
/ Banks ,
Big Data ,
Business Plans ,
Climate Change ,
Consumer Credit Protection ,
Coronavirus/COVID-19 ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Financial Services Industry ,
Payment Systems ,
Small and Medium-Sized Enterprises (SMEs)
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: 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
COVID-19: PRA Dear CEO letter to UK insurers about distribution of profits -
On 31 March 2020, the Prudential Regulation Authority (PRA) published a Dear CEO letter from Sam Woods, Bank of England (BoE) Deputy Governor...more
On 25 March 2020, the UK Financial Conduct Authority (FCA) updated its webpage, Mortgages and coronavirus: our guidance for firms. The webpage sets out guidance for mortgage lenders and administrators, and home purchase...more
COVID-19 and bank lending: letter from HM Treasury, BoE and FCA -
On 25 March 2020, HM Treasury published a joint letter, from the Chancellor, the Governor of the Bank of England (BoE) and the Chief Executive Officer (CEO)...more
COVID-19: PRA Dear CEO letter on IFRS 9, capital requirements and loan covenants -
On 26 March 2020, the Prudential Regulation Authority (PRA) published a Dear CEO letter giving guidance on consistent and robust...more
The European Securities and Markets Authority (ESMA) has published a public statement to clarify issues regarding the application to firms of the MiFID II requirements on the recording of telephone conversations. ESMA...more
COVID-19: FCA Primary Market Bulletin No 27 -
The FCA has published its latest Primary Market Bulletin, focused on COVID-19. Matters covered include:
Ongoing disclosure under the Market Abuse Regulation (MAR) -
The FCA...more
Economic crime: government and regulators respond to House of Commons Treasury Committee report -
The House of Commons Treasury Committee has published the responses of the government, the Payment Systems Regulator (PSR)...more
Open-ended funds investing in less liquid assets: FCA speech -
The FCA has published a speech by Edwin Schooling Latter, FCA Director of Markets and Wholesale Policy, in which he seeks feedback from investors and industry...more
The Financial Conduct Authority (FCA) has published research into mortgage switching and how consumers can be encouraged to seek out better deals. It has also published occasional paper 54, which looks at the characteristics...more
Recent regulatory developments of interest to financial institutions.
CRR: PRA PS5/20 on pre-issuance notification requirements -
Following its earlier consultation paper, CP20/19, the Prudential Regulation Authority...more
3/17/2020
/ Bank Fraud ,
Bank Recovery and Resolution Directive (BRRD) ,
Basel III ,
Coronavirus/COVID-19 ,
CRD IV Directive ,
CSDR ,
European Banking Authority (EBA) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Prudential Regulation Authority (PRA) ,
Regulatory Requirements ,
Risk Management ,
Securities Financing Transactions (SFTs)
The Financial Conduct Authority (FCA) has published a call for input (CFI) on the use and value of data and advanced analytics in wholesale financial markets, now and in the future. ...more
3/17/2020
/ China ,
Coronavirus/COVID-19 ,
EU Benchmark Regulation ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Infectious Diseases ,
Market Participants ,
MiFIR ,
RTS ,
Securities Regulation ,
SFTR ,
Transparency ,
UK