The Financial Services and Markets Act 2023 (Commencement No. 10 and Saving Provisions) Regulations 2025 have been made. The Regulations serve to implement legislative changes required in relation to the Mansion House reforms...more
Vlad Maly and Michal Chajdukowski present the key takeaways from a package of amendments to the existing EU securitization framework, published by the European Commission on June 17, 2025. The proposals aim at...more
The European Securities and Markets Authority has published a consultation on draft guidelines on internal controls for benchmark administrators, credit rating agencies, and market transparency infrastructures (which include...more
The U.K. Financial Conduct Authority has published a consultation on the regulatory framework for the Private Intermittent Securities and Capital Exchange System (PISCES), the proposed new platform for trading shares in...more
The Basel Committee on Banking Supervision has published the final version of its guidelines for counterparty credit risk management, replacing its "Sound Practices for Banks' Interactions with Highly Leveraged Institutions"...more
HM Treasury has published a policy update to confirm its legislative approach for applying the "FSMA model" to the assimilated EU capital requirements regime under the U.K. Capital Requirements Regulation and Capital Buffers...more
The European Commission has published a report on the future of European competitiveness, prepared by Mario Draghi, former President of the European Central Bank. The report aims to set out a new industrial strategy for...more
The Financial Conduct Authority has launched a consultation on proposed rules for a new public offer platform regime, which will allow public offer platforms to facilitate companies making public offers of securities to...more
Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. ...more
The Basel Committee on Banking Supervision (“BCBS”) published a report jointly with the World Bank setting out the findings from a global survey on proportionality in banking regulation and supervision....more
UK Securitisation Regulation: HM Treasury review HM Treasury has published a call for evidence to inform its review of the retained EU law version of the EU Securitisation Regulation (UK Securitisation Regulation or "Sec...more
The European Supervisory Authorities (the "ESAs") have published an opinion on 25 March 2021 entitled "ESAs’ Opinion to the European Commission on the Jurisdictional Scope of Application of the Securitisation Regulation" (the...more
Draft Financial Markets and Insolvency (Transitional Provision) (EU Exit) (Amendment) Regulations 2021 A draft version of the Financial Markets and Insolvency (Transitional Provision) (EU Exit) (Amendment) Regulations 2021...more
UK SFTR: FCA update on reporting LEIs - The Financial Conduct Authority (FCA) has updated its webpage on the retained EU law version of the Regulation on reporting and transparency of securities financing transactions ...more
30 November - The Prudential Regulation Authority (“PRA”) published a statement about its forthcoming policy statement on implementing the CRD V Directive ((EU) 2019/878). HM Treasury updated its webpage on a call for...more
COVID-19: PRA Dear CEO letter on treatment of payment deferrals under IFRS 9 and CRR - On 4 June 2020, the UK Prudential Regulation Authority (PRA) published a Dear CEO letter on International Financial Reporting Standard...more
Introduction - The European Banking Authority (the “EBA”) has recently published its report on the feasibility of a framework for simple, transparent and standardised (“STS”) synthetic securitisations (the “EBA Report”)....more
2 September - The Financial Conduct Authority ("FCA") updated its webpage relating to its guidance consultation on the fair treatment of vulnerable customers. The European Securities and Markets Authority ("ESMA")...more
The U.K. Prudential Regulation Authority has published a consultation paper in which it proposes amendments to the Pre-Issuance Notification (PIN) requirements for regulatory capital instruments. The PIN requirements are...more
This week ITFA published its revised guidelines on CRR-compliant insurance policies. The guidelines were first published in 2016 to assist banks with navigating the complex rules for credit risk mitigation that apply to...more
The European Banking Authority has launched a consultation on the Regulatory Technical Standards that it is developing to govern certain aspects of counterparty credit risk in derivatives transactions. The EBA has been...more
This briefing reviews developments in European CMBS since the financial crisis and focuses on (1) 2011-15 European CMBS transactions (“2011-15 European CMBS”); (2) 2017-18 European CMBS (“2017-18 European CMBS”)...more
European Financial Industry Developments - BCBS Publishes its Work Program for 2018 and 2019 - On June 5, 2018, the Basel Committee on Banking Supervision ("BCBS") published details of its work program for 2018 and...more
On 16 February 2018, the Prudential Regulation Authority (“PRA”) published a consultation paper containing a draft Supervisory Statement to clarify the PRA’s expectations regarding the eligibility of guarantees as unfunded...more
CFTC Statement on Self-Certification of Bitcoin Products by CME, CFE and Cantor Exchange - On December 1, 2017, the Commodity Futures Trading Commission ("CFTC") issued a Statement on the Self-Certification of Bitcoin...more