WORD OF THE DAY® – Clean-Up Call
The EU T+1 Coordination Committee has published its summary of a meeting held on 6 February 2025. At the meeting, the European Commission representative indicated that the proposal to amend EU CSDR to shorten the securities...more
The Digital Operational Resilience Act (DORA) establishes a harmonised and comprehensive framework for information and communication technology (ICT) risk management in the financial sector. It is a directly applicable EU...more
Many governments are grappling with the question of how to regulate artificial intelligence to ensure it is adopted safely and used responsibly without hampering innovation. Governments have generally indicated similar...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
The European Securities and Markets Authority has published new Guidelines on the appropriateness and execution-only requirements under the revised Markets in Financial Instruments Directive. The appropriateness requirements...more
The European Commission has published legislative proposals to amend the Markets in Financial Instruments Directive and the Markets in Financial Instruments Regulation. The proposals are part of the Commission's package of...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
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more
29 October - The Financial Conduct Authority (“FCA”) updated its webpage on its responsibilities to mutual societies and its webpage on mutual societies’ annual returns and accounts. The FCA published a press release...more
30 July - The Financial Conduct Authority (“FCA”) updated its webpage on the High Court business interruption insurance test case. The Prudential Regulation Authority (“PRA”) published a consultation paper (CP11/20)...more
30 June - The Financial Conduct Authority (“FCA”) announced that the deadline for solo-regulated firms to have undertaken the first assessment of the fitness and propriety of their Certified Persons will be delayed from 9...more
2 December - The Financial Conduct Authority ("FCA") updated the following webpages: - webpage on its July 2018 discussion paper on price discrimination in the cash savings market (PD18/6); and - webpage on its...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
BREXIT - EEA Joint Committee Decisions - On 18 July, four Decisions of the EEA Joint Committee made on 29 March and five Decisions made on 11 April that amend Annex IX (Financial Services) to the EEA Agreement were...more
1 June - HM Treasury published a consultation paper (dated May 2019) on the regulation of pre-paid funeral plans. HM Treasury intends to bring all funeral plan providers within the remit of the FCA....more
The European Banking Authority (“EBA”) has published its revised guidelines on outsourcing arrangements (“New Outsourcing Guidelines”). The New Outsourcing Guidelines are now awaiting to be officially translated into member...more
1 April - The Financial Conduct Authority ("FCA") published a statement announcing that it is commissioning an investigation by an independent person into the issues raised by the failure of London Capital & Finance....more
2 November - The Prudential Regulation Authority ("PRA") updated its consultation paper on changes to the PRA Rulebook and onshored binding technical standards. The Financial Conduct Authority ("FCA") published issue...more
3 April - The Financial Conduct Authority ("FCA") published a press release, warning that it intends to take action against general insurance firms that fail to properly implement the rules aimed at increasing...more
FHFA Requests Input on Credit Risk Transfer Transactions - On June 29, 2016, the Federal Housing Finance Agency published a report outlining its perspective on the credit risk transfer programs of Fannie Mae and Freddie...more
ECB Publishes Public Consultation - The European Central Bank ("ECB") has published a Public Consultation on a draft Addendum to the ECB Guide on options and discretions available in Union law. ...more