The Standard Formula Podcast | Unpacking the IAIS’ Adoption of the Insurance Capital Standard
The Standard Formula Podcast | Insurers in Difficulty: Staying Compliant Under Solvency II
The Standard Formula Podcast | Using an Internal Model to Calculate the Solvency Capital Requirement
The Standard Formula Podcast | Bermuda Monetary Authority Proposes Enhancements to its Regulatory Regime
Williams Mullen's Comeback Plan: Part II - How Banks Think About Loan Defaults: Lessons for Borrowers in Troubled Times
CFTC Proposal Poses “Monumental” Challenge to FCMs
The UK Financial Conduct Authority (FCA) has published a consultation paper (CP25/10), along with a press release and an updated webpage, proposing to remove all references to the UK Capital Requirements Regulation (UK CRR)...more
In its recent consultation [CP25/10: Definition of capital for FCA investment firms] (Consultation), the Financial Conduct Authority (FCA) has stated that it wants to amend its capital rules for investment firms — such as...more
A common feature of U.S. venture capital deals is the provision of an opinion of counsel regarding certain key matters before investors will close a financing round. These opinions are part of an investor’s due diligence...more
31 July - ESG: The European Commission adopted a Commission Delegated Regulation, setting out the first set of European Sustainability Reporting Standards (“ESRS”), together with a Q&A (see press release). The ESRS specify...more
What is the IFPR? The new UK Investment Firms Prudential Regime (“IFPR”) will come into force on 1 January 2022 and will apply to UK investment firms authorised under the Markets in Financial Instruments Directive (“MiFID”)...more
The Development: New Regulation (EU) 2020/2176 (the "Regulation") provides regulatory capital relief, allowing certain software assets to be considered when calculating Common Equity Tier 1 ("CET1") capital. It entered into...more
Regulation (EU) 2019/2033 on the prudential requirements of investment firms and Directive (EU) 2019/2034 on the prudential supervision of investment firms (collectively, "IFR/IFD Framework") significantly change the...more
The European Banking Authority has issued a report on diversity practices in credit institutions and investment firms. The report is based on diversity data collected by national regulators under the Capital Requirements...more
The European Banking Authority has published its final guidelines on the management of information and communication technology and security risks by financial institutions in the EU. The Guidelines set out how financial...more
What is it? The EU has finalised and issued a new framework for the prudential regulation of investment firms. It will set new classification for investment firms that will in turn determine which of the new capital...more
Non-EU banking groups (“non-EU groups”) with large EU operations will be required to establish an EU intermediate parent undertaking (“IPU”) according to the final changes to the Capital Requirements Directive (“CRD 5”)...more
On 20 December 2017, the European Commission published proposals to revise the framework for the prudential regulation of investment firms. The proposals were anticipated and are an attempt to “ensure that investment firms...more
On March 4, the European Central Bank (“ECB”) published an opinion on the European Commission’s legislative proposal for a Regulation amending the Capital Requirements Regulation (CRR) to extend certain exemptions for...more