COVID-19: FCA proposes further support for credit card, personal loan and overdraft customers -
On 19 June 2020, the UK Financial Conduct Authority (FCA) published proposed updated temporary guidance for firms relating to...more
Recent regulatory developments of interest to all financial institutions. Includes updates on COVID-19, FCA guidance on assessing adequate financial resources, and European Commission draft legislation incorporating...more
6/17/2020
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Coronavirus/COVID-19 ,
ESRB ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Green Bonds ,
Libor ,
MiFID ,
Prudential Regulation Authority (PRA) ,
Solvency II ,
UCITS ,
UK ,
UK Brexit
Recent regulatory developments focussing on banking and finance. This week reports on the EBA's consultation on draft RTS on the prudential treatment of software assets....more
Request to Pay: Pay.UK launches rules and standards framework -
Pay.UK has launched the Request to Pay Framework — the message standards, rules, and terms and conditions for the development of Request to Pay services. The...more
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
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
COVID-19: PRA letter to credit unions and direction modifying minimum provisioning requirements -
On 8 April 2020, the Prudential Regulation Authority (PRA) published a letter to directors, staff members and volunteers of...more
4/9/2020
/ Banks ,
Basel Committee on Banking Supervision (BCBS) ,
Basel III ,
Coronavirus/COVID-19 ,
EU ,
European Banking Authority (EBA) ,
Financial Institutions ,
Financial Services Industry ,
Liquidity ,
Prudential Regulation Authority (PRA) ,
UK
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
Funding no-blame APP scams: PSR considers options -
The Payment Systems Regulator (PSR) has published slides and speaker notes of Chris Hemsley, PSR Managing Director, for a call on authorised push payment (APP) scams,...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 update on strong customer authentication under PSRs 2017 -
On 31 March 2020, the FCA updated its webpage on strong customer authentication (SCA) under the Payment Services Regulations 2017. ...more
COVID-19: UK Finance increases spending limit for contactless card payments -
On 24 March 2020, UK Finance has announced that, from 1 April 2020, it is increasing the spending limit for contactless card payments from £30...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
PSR issues new directions and response to consultation feedback -
The Payment Systems Regulator (PSR) has issued new versions of its directions following its consultation in CP19/3. It has also published a document,...more
3/16/2020
/ ATMs ,
Consultation Papers ,
EU ,
Financial Institutions ,
Financial Services Industry ,
Interchange Fees ,
Payment Systems ,
Regulatory Requirements ,
SEPA ,
UK ,
UK Payment Systems Regulator
Spring 2020 Budget: key financial services announcements -
The Chancellor of the Exchequer, Rishi Sunak, has delivered the Spring 2020 Budget. The Budget includes a number of measures of interest to financial services...more
3/16/2020
/ Bank of England ,
Budgets ,
China ,
Coronavirus/COVID-19 ,
Cybersecurity ,
European Economic Area (EEA) ,
FATF ,
Financial Services Industry ,
FPC ,
Green Bonds ,
Green Finance ,
HM Treasury ,
Infectious Diseases ,
Investment Funds ,
Libor ,
New Guidance ,
Prudential Regulation Authority (PRA) ,
Public Health ,
Risk Free Rates (RFRs) ,
Sterling Overnight Index Average (SONIA) ,
UK ,
UK Brexit
The UK Financial Conduct Authority (FCA) has published Sector Views, its annual report examining how each financial sector is performing....more
2/18/2020
/ Consumer Financial Products ,
Consumer Insurance Products ,
Cyber Crimes ,
Data Management ,
Debt ,
Digital Services ,
E-Money ,
Economic Development ,
Emerging Markets ,
Financial Conduct Authority (FCA) ,
Financial Crimes ,
Financial Markets ,
Financial Services Industry ,
Investment Management ,
Lenders ,
Peer-to-Peer ,
Pensions ,
Regulatory Oversight ,
Regulatory Standards ,
Retail Banks ,
Retirement Plan ,
Scams ,
Small and Medium-Sized Enterprises (SMEs) ,
Trade Relations ,
UK ,
UK Brexit ,
Vulnerable Victims