Financial Regulation Weekly Bulletin

17 Oct 2019 | Newsletter/briefing

General

  • G20 financial regulatory reforms – FSB publishes letter and report on implementation progress
  • EU-Japan financial regulatory forum – European Commission and JFSA publish joint statement
  • The FCA’s regulatory perimeter – Treasury Committee publishes FCA’s response to report
  • Machine learning in financial services – Joint report from Bank of England and FCA
  • SMCR – FCA publishes new webpage on Form K
  • GABRIEL – FCA announces data collection platform changes
  • Change in control notifications – FCA guidance on preparing submissions
  • Expectations of CMCs and PPI complaints – FCA publishes ‘Dear CEO’ letter
  • FCA Consultation Paper CP19/29 – Recovery of costs of supervising cryptoasset businesses under the proposed anti-money laundering regulations: Fees proposals
  • Complaints data – FCA publishes latest figures

Brexit

  • Brexit negotiations – Agreement reached at UK-EU negotiator level
  • The Financial Services Bill – announced in the Queen’s Speech
  • MoU on equivalence and exemption determinations – agreed by HM Treasury, Bank of England, PRA and FCA
  • No-deal Brexit – FCA sets out latest expectations
  • No-deal Brexit – ISDA publishes FAQs

Banking and Finance

  • Basel III implementation – Basel Committee publishes seventeenth progress report
  • A level playing field for banks in the Union – speech by Margarete Vestager, European Commissioner for Competition
  • Finalisation of Basel III reforms – European Commission launches consultation on implementation
  • Functioning of the Benchmarks Regulation – European Commission launches public consultation
  • EU crowdfunding legislative proposals – Council of the EU publishes note on progress
  • PSD2 – EBA publishes Opinion on SCA migration
  • CRR – EBA publishes Consultation Paper on ITS for Pillar 3 disclosures and supervisory reporting
  • CRR – EBA publishes Consultation Paper on draft Guidelines on the structural FX provision
  • Transition from EONIA to €STR – ECB working group publishes report on risk management
  • PRA Policy Statement PS24/19 – Large exposures: Reciprocation of French measure
  • PRA Consultation Paper CP27/19 – Liquidity: The PRA’s approach to supervising liquidity and funding risks
  • FCA Feedback Statement FS19/6 – Climate change and green finance: Summary of responses and next steps
  • FCA Consultation Paper CP19/28: Motor finance discretionary commission models and consumer credit commission disclosure
  • Access to cash and protected ATMs – PSR announces review of 2018 specific direction to LINK
  • Retail Banking Market Investigation Order 2017 – CMA revokes Directions

Securities and Markets

  • G20 Data Gaps Initiative – FSB and IMF publish progress report
  • Market fragmentation – FSB publishes update on ongoing work
  • OTC derivatives market reforms – FSB publishes report on implementation
  • PRIIPs Regulation – ESAs publish Consultation Paper on amendments to KID rules
  • Securitisation Regulation – European Commission adopts Delegated Regulation
  • EMIR 2.2 – Council of the EU adopts Regulation
  • EMIR – ESMA publishes report on its peer review of NCAs data quality
  • FICC markets – FMSB publishes statement of good practice on conflicts of interest

Asset Management

  • Liquidation of the LF Woodford Equity Income Fund – FCA publishes update

Insurance

  • Annual work programme 2020 – published by EIOPA
  • 2020 Solvency II Review – EIOPA publishes Consultation Paper on draft Opinion
  • The Pensions Scheme Bill – announced in the Queen’s Speech
  • PRA Consultation Paper CP26/19 – Solvency II: Adjusting for the reduction of loss absorbency where own fund instruments are taxed on conversion
  • General insurance value measures – FCA launches fourth pilot

Financial Crime

  • AML and CTF framework – IFF and Deloitte publish report on global framework
  • Syndicated lending – JMLSG publishes revised Guidance

Enforcement

  • Systems and controls failures relating to broker conduct – FCA fines inter-dealer broker £15.4 million
  • ‘Cold-shouldering’ by the Takeover Panel – FCA statement

Contacts

Selmin Hakki (professional support lawyer)


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