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
Payday Lending Market Investigation Order 2015: CMA summary of borrowing template - The Competition and Markets Authority (CMA) has published a template of a summary of borrowing statement, to be used by lenders to comply...more
Woolard Review sets out vision for unsecured credit - The UK Financial Conduct Authority (FCA) has published a report, to the FCA board on a review of change and innovation in the unsecured consumer credit market. ...more
Solvency II: PRA letter to life insurers on application of effective value test -The UK Prudential Regulation Authority (PRA) has sent a letter to the Chief Actuaries of life insurers on feedback on the application of the...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
UK and Switzerland to deepen cooperation on financial services - HM Treasury has published a press release announcing plans to move forward to the next stage of talks between the UK and Switzerland on an agreement on...more
Capital buffers: PRA modification by consent - The UK Prudential Regulation Authority (PRA) has published a direction for modification by consent of 5.1 - 5.3 and 5.5 of the Capital Buffers Part of the PRA Rulebook....more
2/2/2021
/ Bank Recovery and Resolution Directive (BRRD) ,
Capital Requirements Regulation (CRR) ,
Coronavirus/COVID-19 ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
Financial Services Industry ,
Infectious Diseases ,
MREL ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
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 SMCR forms: PRA PS1/21 - Following consultation, the UK Prudential Regulation Authority (PRA) has published a policy statement, PS1/21, on updates to forms relating to the Senior Managers and Certification Regime (SMCR or...more
COVID-19: FCA updates mortgage and consumer credit repossessions guidance - On 27 January 2021, the UK Financial Conduct Authority (FCA) published a statement giving an update on mortgages, consumer credit, banking and...more
COVID-19: FCA Dear CEO letter on BI insurance test case and outcome table - On 22 and 29 January 2021, the FCA updated its webpage on its business interruption (BI) insurance test case. The FCA has published ...more
2/1/2021
/ Business Interruption ,
Coronavirus/COVID-19 ,
Dear CEO Letter ,
Financial Conduct Authority (FCA) ,
IAIS ,
Infectious Diseases ,
Insurance Claims ,
Insurance Regulations ,
Preexisting Conditions ,
Regulatory Agenda ,
UK
Depositor protection identity verification: PRA CP3/21 - The UK Prudential Regulation Authority (PRA) has published a consultation paper, CP3/21, on depositor protection identity verification....more
EMIR: European Commission consults on draft Implementing Decisions on equivalence - The European Commission has published for consultation the following draft Implementing Decisions on equivalence made under Article 13(2) of...more
Financial Services Bill 2019-21 - Having completed its progress through the House of Commons, on 14 January 2021, the Financial Services Bill 2019-21 had its first reading in the House of Lords. A revised version of the Bill,...more
Debt Respite Scheme (Breathing Space): Insolvency Service guidance - The Insolvency Service (IS) has published guidance for creditors and money advisors about the debt respite scheme (Breathing Space), which comes into effect...more
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
UK SSR: Short Selling (Notification Thresholds) Regulations 2021 - The Short Selling (Notification Thresholds) Regulations 2021 (SI 2021/5) have been published, together with an explanatory memorandum....more
1/18/2021
/ Coronavirus/COVID-19 ,
EMIR ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Infectious Diseases ,
MiFIR ,
Regulation Technical Standards (RTS) ,
Regulatory Agenda ,
Securities Regulation ,
Short Selling ,
UK
Solvency II: PRA CP1/21 on deep, liquid and transparent assessments, and GBP transition to SONIA - The UK Prudential Regulation Authority (PRA) has published a consultation paper, CP1/21, on deep, liquid and transparent (DLT)...more
1/18/2021
/ Coronavirus/COVID-19 ,
Cyber Insurance ,
EIOPA ,
Financial Conduct Authority (FCA) ,
IAIS ,
Infectious Diseases ,
Insurance Regulations ,
Regulatory Agenda ,
Solvency II ,
Sterling Overnight Index Average (SONIA) ,
UK ,
UK Brexit
TMPR: FCA update on adding new sub-fund to umbrella scheme - The UK Financial Conduct Authority (FCA) has updated its webpage on adding a new sub-fund to an umbrella scheme in the temporary marketing permissions regime (TMPR)...more
COVID-19: Pay.UK report on current account switching behaviours - On 6 January 2021, Pay.UK published a report on how COVID-19 has affected current account switching attitudes and behaviours in the UK....more
2021 priorities for supervising insurance firms: PRA Dear CEO letter
The UK Prudential Regulation Authority (PRA) has published a Dear CEO letter it has sent to insurance firms setting out its supervisory priorities for...more
UK Short Selling Regulation: notification threshold -
HM Treasury has announced that it intends to lay a statutory instrument under the retained EU law version of the Short Selling Regulation (UK SSR) amending the initial...more
12/21/2020
/ Coronavirus/COVID-19 ,
Cryptocurrency ,
Derivatives ,
European Securities and Markets Authority (ESMA) ,
Financial Markets ,
Infectious Diseases ,
MiFID ,
MiFIR ,
Regulatory Agenda ,
Securities Regulation ,
Short Selling ,
UK
UK SRR code of practice -
HM Treasury has published a revised version of the Banking Act 2009 special resolution regime (SRR) code of practice which applies to the use of the SRR after the end of Brexit transition period....more
12/21/2020
/ Basel III ,
Capital Requirements Regulation (CRR) ,
Coronavirus/COVID-19 ,
Dear CEO Letter ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
Infectious Diseases ,
Non-Performing Loans (NPL) ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
UK
UK implementation of CRD V: PRA PS26/20 - The Prudential Regulation Authority (PRA) has published a policy statement, PS26/20, on the implementation of the Capital Requirements Directive V (CRD V)....more
MMF Regulation: ESMA updates reporting instructions -
The European Securities and Markets Authority (ESMA) has announced that it has updated its validation rules regarding the EU Regulation on money market funds (MMF...more