The Capital Ratio Podcast | Entering the US Banking Market
The Standard Formula Podcast | Assessing Prudential Solvency Regimes in the Middle East
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 | Group Supervision Under Solvency II
The Standard Formula Podcast | Developments on the Horizon for the UK Change-in-Control Regulatory Regime
[WEBINAR] Update: Social Media Meets the First Amendment
[WEBINAR] Do You Know the Way [After] San Jose?
[WEBINAR] Public Records Act - Taming the Email Tiger
The European Banking Authority (EBA) has published its report under Article 21c(6) of the Capital Requirements Directive VI on whether to amend the provisions governing the direct provision of core banking services from third...more
1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) International - FSB: Plenary December 2024 - Status: Final - The FSB has set out the outcomes of its Plenary that met on 3 and 4 December. Points of...more
1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) International - FSB: 2024 list of global systemically important banks - Status: Final - The FSB has published a 2024 list of global systemically...more
1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General (i) EU - ESRB: Speech on old and new frontiers of the ESRB: Systemic risk, non-banks and data analysis - Status: Final - The ESRB has published a...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
1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) EU - EC: Report on the future of European competitiveness Status: Final - The EC has published a report on the future of European competitiveness,...more
Long IT sub-contracting chains can make it hard for financial institutions to understand the vulnerabilities in their IT estate and the location of key functions (where these may be located in entities who do not have a...more
There were some key publications this week in relation to financial crime, including a Commission request for the EBA to advise on standards and guidelines under the future AML/CFT framework in Europe and, in the UK, an HMT...more
1. Bank regulation - 1.1 Prudential regulation - (a) General - (i) EU - EBA: Roadmap on strengthening the Prudential framework - Status: Final - The EBA has published its roadmap on the Banking Package, which...more
SMCR: PRA PS11/21 and FCA Handbook Notice 88 on temporary, long-term absences - The UK Prudential Regulation Authority (PRA) has published a policy statement, PS11/21, which confirms its final policy relating to temporary,...more
US-UK financial regulatory working group joint statement - HM Treasury has published a joint statement by the US-UK Financial Regulatory Working Group following its fourth meeting, which was held virtually on 20 May 2021....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
29 September - The Financial Conduct Authority (“FCA”) published its perimeter report 2019/20, which provides an update on the issues raised in its 2018/19 report. A European Commission notice (2020/C 321/01) relating...more
The Prudential Regulation Authority (“PRA”) published a statement announcing that it intends to terminate, with effect from 30 September 2020, the temporary approach to value-at-risk (VAR) back-testing exceptions it announced...more
Recent regulatory developments of interest to financial institutions. CRR: PRA PS5/20 on pre-issuance notification requirements - Following its earlier consultation paper, CP20/19, the Prudential Regulation Authority...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 FCA and the PRA published their Business Plans for 2019/20 in April 2019. FCA Priorities - As expected, with Brexit remaining a key focus, there are few new initiatives for this year. The FCA’s Business Plan sets...more
1 March - The European Banking Authority ("EBA") published an opinion on deposit protection resulting from the United Kingdom's ("UK") withdrawal from the European Union ("EU"). The Financial Conduct Authority ("FCA")...more
3 December - The European Central Bank ("ECB") published a document setting out its cyber resilient oversign expectations for financial market infrastructures. 4 December - On 4 December 2018, the Council of the EU...more
BREXIT - UK Finance proposes model for post-Brexit financial services under EU-UK trade agreement - On 16 November, UK Finance published a report entitled "Supporting Europe's economies and citizens: a modern approach...more
Allen & Overy publish weekly updates on key regulatory topics affecting the financial services sector. If you would like to receive this update by email please contact RegulatoryChange@allenovery.com. BREXIT - HoL EU...more
The FCA and PRA announced changes to enforcement process with the aim of strengthening the transparency and effectiveness of enforcement decision-making processes. Some of the changes have already come into force, the rest...more
In this newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset managers and...more
ESMA Publishes Guidelines on the EU Implementation of CPSS-IOSCO Principles - On September 4, ESMA published the translation of guidelines and recommendations on implementing the principles for financial market...more