UK CRR: Draft Capital Requirements Regulation (Amendment) Regulations 2021 A draft version of the Capital Requirements Regulation (Amendment) Regulations 2021 has been published, together with a draft explanatory memorandum....more
7/19/2021
/ Bank Recovery and Resolution Directive (BRRD) ,
Banking Sector ,
Basel III ,
Capital Requirements Regulation (CRR) ,
EU ,
European Banking Authority (EBA) ,
Financial Institutions ,
Financial Services Industry ,
HM Treasury ,
Libor ,
Prudential Regulation Authority (PRA) ,
UK
Future framework for regulation of UK financial services: Treasury Committee report - The House of Commons Treasury Committee has published its Fifth Report of Session 2021-22 on the future framework for regulating financial...more
7/13/2021
/ Bank of England ,
EU ,
European Banking Authority (EBA) ,
European Commission ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
Financial Stability Board ,
General Data Protection Regulation (GDPR) ,
Libor ,
Prudential Regulation Authority (PRA) ,
UK
2022/23 supervisory benchmarking exercise for capital internal models: PRA statement - The UK Prudential Regulation Authority (PRA) has published a statement on its expectations concerning the 2022 and 2023 supervisory...more
Collections function: PRA Dear Chief Risk Officer letter -
The UK Prudential Regulation Authority (PRA) has published a letter to Chief Risk Officers (CROs) of non-systemic UK deposit takers, from Melanie Beaman, PRA...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
LIBOR transition and fallbacks in uncleared derivatives: Sterling Working Group statement and paper -
Recent UK and EU regulatory developments of interest to financial institutions and markets. Also check our Financial...more
Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 -
The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (SI 2021/494) have been published, together...more
Regulation of non-transferable debt securities: HM Treasury consultation HM Treasury has published a consultation paper on the regulation of non-transferable debt securities (NTDS) (often referred to as mini-bonds)....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
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
Depositor protection identity verification: PRA PS4/21 -
Following its consultation in CP3/21, the UK Prudential Regulation Authority (PRA) has published a policy statement, PS4/21, on depositor protection identity...more
3/29/2021
/ Bank Recovery and Resolution Directive (BRRD) ,
EU ,
European Banking Authority (EBA) ,
European Central Bank ,
Financial Instruments ,
Financial Services Industry ,
Inter-Bank Offered Rates (IBORs) ,
Libor ,
MREL ,
Payment Services Directive ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Stress Tests ,
UK ,
UK Brexit
AI Public-Private Forum: BoE publishes minutes of second meeting The Bank of England (BoE) has published minutes from the second meeting of the Artificial Intelligence Public-Private Forum (AIPPF), which was held on 26...more
3/15/2021
/ AML/CFT ,
BSA/AML ,
Cyber Threats ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Libor ,
Office of Financial Sanctions Implementation (OFSI) ,
Regulatory Agenda ,
UK
LIBOR transition: Working Group's best practice guide for GBP loans and Q&A -
The Working Group Sterling Risk-Free Reference Rates published a best practice guide for GBP loans. Alongside the guide, the Working Group also...more
3/9/2021
/ Basel III ,
Capital Requirements Regulation (CRR) ,
Environmental Social & Governance (ESG) ,
European Central Bank ,
European Commission ,
Financial Regulatory Reform ,
Implementing Technical Standards (ITS) ,
Libor ,
Popular ,
Regulatory Agenda ,
RTS ,
UK
UK CCPs: HM Treasury consults on expanded resolution regime -
HM Treasury is consulting on an expanded resolution regime for central counterparties (CCPs). HM Treasury intends to revise and expand the UK CCP resolution...more
3/1/2021
/ Central Counterparties ,
EU ,
EU Benchmark Regulation ,
European Securities and Markets Authority (ESMA) ,
Financial Markets ,
GameStop ,
IOSCO ,
Libor ,
Market Manipulation ,
MiFIR ,
Regulatory Agenda ,
Securities Regulation ,
Stock Trades ,
UK
BoE banking solvency stress test 2021 scenario - The Bank of England (BoE) has updated its stress testing webpage and published the solvency stress test 2021 scenario for banks and building societies that are not part of...more
2/22/2021
/ Bank of England ,
Capital Requirements Regulation (CRR) ,
G-SII ,
IFRS ,
Implementing Technical Standards (ITS) ,
Libor ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Small and Medium-Sized Enterprises (SMEs) ,
Stress Tests ,
UK
Capital internal models: PRA statement on 2021 supervisory benchmarking exercise -
The UK Prudential Regulation Authority (PRA) has published a statement to provide greater clarity for credit institutions that are in scope...more
UK ring-fencing and proprietary trading independent reviews: Terms of Reference - HM Treasury has published the Terms of Reference for the upcoming statutory reviews of the ring-fencing regime legislation and banks'...more
2/9/2021
/ Coronavirus/COVID-19 ,
European Banking Authority (EBA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Infectious Diseases ,
Libor ,
Liquidity ,
Proprietary Trading ,
Regulatory Agenda ,
Stress Tests ,
UK
LIBOR cessation: FCA speech - The FCA has published a speech given by Edwin Schooling Latter, FCA Director of Markets and Wholesale Policy, on being ready for life without LIBOR from the end of 2021. ...more
2/2/2021
/ CCPs ,
CSDR ,
EMIR ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
Inter-Bank Offered Rates (IBORs) ,
Libor ,
Regulatory Agenda ,
Securities Regulation ,
UK
UK-EU trade and cooperation agreement After extensive negotiations, and within a week of the Brexit transition period ending on 31 - December 2020, the UK and the EU finally announced on 24 December 2020 that they had agreed...more
1/18/2021
/ Cloud Computing ,
Coronavirus/COVID-19 ,
Cryptoassets ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Gibraltar ,
Infectious Diseases ,
Libor ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
SMCR ,
UK ,
UK Brexit
Ring-fencing and proprietary trading activities reviews: HM Treasury update - On 22 December 2020, the House of Commons Treasury Committee published a letter (dated 16 November 2020) it received from John Glen, Economic...more
Financial Institutions Horizons is a snapshot of key legal topics and market trends across the globe, shaping the future of the financial institutions market.
When we conceived the Horizons series in 2018, the financial...more
12/16/2020
/ Biden Administration ,
China ,
Coronavirus/COVID-19 ,
Cybersecurity ,
Financial Institutions ,
FinTech ,
Infectious Diseases ,
Investigations ,
Libor ,
Sustainable Business Practices ,
UK Brexit
Draft Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2020 -
A draft version of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2020 has been...more
11/30/2020
/ Bank of England ,
Coronavirus/COVID-19 ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
FSB ,
FSCS ,
G20 ,
Green Finance ,
Infectious Diseases ,
Libor ,
UK
UK BMR: FCA approach to orderly wind down of LIBOR and consultation on Statements of Policy -
The UK Financial Conduct Authority has published a document on the Benchmarks Regulation (UK BMR) and proposed amendments under...more
Approach to assessing resolvability: BoE consultation -
The Bank of England (BoE) and the Prudential Regulation Authority (PRA) are consulting in parallel on a package of proposals relating to their policies for...more
11/10/2020
/ Bank of England ,
Bank Recovery and Resolution Directive (BRRD) ,
Basel Committee on Banking Supervision (BCBS) ,
Basel III ,
CRD IV Directive ,
European Banking Authority (EBA) ,
Financial Conduct Authority (FCA) ,
Libor ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Small and Medium-Sized Enterprises (SMEs)