UK Solvency II review: HM Treasury extends response deadline -
HM Treasury has extended the deadline for responding to its call for evidence relating to its review of the Solvency II prudential regulatory regime for...more
Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 -
The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (SI 2020/1350) have been published, together with an explanatory memorandum....more
12/7/2020
/ Bank Recovery and Resolution Directive (BRRD) ,
Basel Committee on Banking Supervision (BCBS) ,
Capital Requirements Regulation (CRR) ,
Coronavirus/COVID-19 ,
CRD V ,
European Banking Authority (EBA) ,
European Central Bank ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
Financial Services Industry ,
Holding Companies ,
Infectious Diseases ,
Moratorium ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Sharia Law ,
UK ,
UK Brexit
Submission of statistical data: BoE Green Notice 2020/02 -
The Bank of England (BoE) has published a Green Notice 2020/02 announcing future changes to the submission of statistical data to its Data and Statistics Division...more
Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2020 -
The Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2020 (SI 2020/1274) have been published, together with an explanatory...more
11/23/2020
/ CRR II ,
Dear CEO Letter ,
Economic Sanctions ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
FSCS ,
Gibraltar ,
National Competent Authorities (NCA) ,
Ombudsman ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Serious Fraud Office (SFO) ,
UK
COVID-19: FCA update on business interruption insurance test case -
The UK Financial Conduct Authority (FCA) has updated its webpage on its business interruption insurance test case. Among other things, the FCA has...more
CRD V and BRRD II-derived UK legislation: PRA statement on application of temporary transitional power -
The UK Prudential Regulation Authority (PRA) has published a statement on the application of its temporary...more
Brexit: UK equivalence decisions for EEA states -
HM Treasury has announced its intention to make equivalence decisions in respect of the EEA across a number of financial services areas. ...more
11/16/2020
/ Coronavirus/COVID-19 ,
EU ,
European Economic Area (EEA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
FSB ,
Infectious Diseases ,
Prudential Regulation Authority (PRA) ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
Third-Party Relationships ,
UK ,
UK Brexit
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)
Implementation of CRD V: PRA CP17/20 -
The UK Prudential Regulation Authority (PRA) has published a consultation paper, CP17/20, setting out proposed changes to its rules, supervisory statements (SS) and statements of...more
10/26/2020
/ Capital Requirements Regulation (CRR) ,
CRD V ,
European Banking Authority (EBA) ,
Financial Conduct Authority (FCA) ,
Financial Crimes ,
Financial Regulatory Reform ,
Financial Services Industry ,
Money Laundering ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
UK
Brexit: PRA and FCA Dear CEO letter on final preparations for end of transition period -
The UK Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) have published a joint Dear CEO letter that they...more
Brexit: HM Treasury update on financial services Brexit statutory instruments
HM Treasury has published an update on its work relating to statutory instruments (SIs) laid, or to be laid, under the European Union (Withdrawal)...more
10/20/2020
/ Big Tech ,
Coronavirus/COVID-19 ,
Dear CEO Letter ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Financial Transactions ,
FSB ,
Infectious Diseases ,
Office of Financial Sanctions Implementation (OFSI) ,
Prudential Regulation Authority (PRA) ,
RegTech ,
Regulatory Agenda ,
Securitization ,
Stablecoins ,
UK ,
UK Brexit
Building guarantee policies: PRA PS21/20 on extending policyholder protection -
The UK Prudential Regulation Authority (PRA) has published a policy statement, PS21/20, which contains a rule change to increase protection...more
10/20/2020
/ Consumer Insurance Products ,
Coronavirus/COVID-19 ,
EIOPA ,
IAIS ,
Infectious Diseases ,
Insurance Regulations ,
Lloyds of London ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Solvency II ,
UK
COVID-19: PRA letter to credit unions and direction modifying minimum provisioning requirements -
On 7 October 2020, the UK Prudential Regulation Authority (PRA) published a letter to directors of credit unions on...more
10/13/2020
/ Banks ,
Capital Requirements ,
Coronavirus/COVID-19 ,
CRD IV Directive ,
Credit Unions ,
EU ,
European Banking Authority (EBA) ,
Infectious Diseases ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Regulatory Requirements ,
Systemic Risk Buffer ,
UK
Brexit: FCA reopens temporary permissions regime notification window -
The UK Financial Conduct Authority (FCA) has updated its webpage on the temporary permissions regime (TPR) explaining that EEA firms and fund managers...more
10/6/2020
/ Bank of England ,
Coronavirus/COVID-19 ,
Dear CEO Letter ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Infectious Diseases ,
Prudential Regulation Authority (PRA) ,
Transitional Arrangements ,
TTP ,
UK ,
UK Brexit
IRB UK mortgage risk weights: PRA CP14/20 -
The UK Prudential Regulation Authority (PRA) has published a consultation paper, CP14/20, on proposals to introduce new expectations on internal ratings based (IRB) approach UK...more
10/6/2020
/ AML/CFT ,
Bank Recovery and Resolution Directive (BRRD) ,
Capital Requirements Regulation (CRR) ,
EU ,
European Banking Authority (EBA) ,
Financial Instruments ,
IRB ,
Mortgages ,
Prudential Regulation Authority (PRA) ,
Risk Assessment ,
UK
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
COVID-19: FCA and PRA update information on key workers and working from home -
On 24 September 2020, the UK Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) published updated information about...more
9/29/2020
/ ECON ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
FinCEN ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Remote Working ,
SFDR ,
UK ,
UK Brexit
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
Credit unions: PRA 2020 annual assessment of category 5 credit unions -
The UK Prudential Regulation Authority (PRA) has updated its webpage on credit unions to publish letters sent to directors of category 5 credit...more
9/15/2020
/ Banks ,
Consumer Financial Products ,
Credit Unions ,
EU ,
Financial Services Industry ,
Leveraged Loans ,
Libor ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Supervisory Guidance ,
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
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
SMCR extension: SI extending implementation date made -
The Bank of England and Financial Services Act 2016 (Commencement No. 6 and Transitional Provisions) (Amendment) Regulations 2020 (SI 2020/929) have been made....more
9/8/2020
/ AML/CFT ,
Artificial Intelligence ,
Bank of England ,
Digital Currency ,
Financial Conduct Authority (FCA) ,
Financial Crimes ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Initial Coin Offering (ICOs) ,
Innovation ,
Popular ,
Prudential Regulation Authority (PRA) ,
RegTech ,
RTS ,
Sandbox ,
SMCR ,
UK
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: PRA PS19/20 on FSCS temporary high balances coverage extension -
On 4 August 2020, the UK Prudential Regulation Authority (PRA) published a policy statement, PS19/20, on the Financial Services Compensation Scheme...more
8/11/2020
/ Bank Recovery and Resolution Directive (BRRD) ,
Banks ,
Basel Committee on Banking Supervision (BCBS) ,
Capital Requirements Regulation (CRR) ,
Comment Period ,
Financial Regulatory Reform ,
FSCS ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
TLAC ,
UK
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