HMT has published a short note on a cross-border coordination exercise in the financial sector which took place on 17 April 2024.

This modification enables firms to connect to the MaPS pensions dashboards digital architecture before 31 October 2026 and comply with COBS 19.11 for 100% of their relevant pension scheme members’ data.

FCA is consulting on proposed changes to the Financial Crime Guide.  Changes are proposed to the following areas: sanctions; proliferation financing; transaction monitoring; cryptoassets; the Consumer Duty, and consequential changes.  Responses are required by 27 June 2024.

FCA has published the latest set of complaints data for H2 2023.  The product groups that experienced an increase in their complaint numbers were: banking and credit cards (up 3.2%), home finance (up 3.7%), and investments (up 3.4%).  

The European Parliament’s plenary session of 22-25 April 2024 has ratified numerous informal deals reached between negotiators on files dealing with economic or financial services matters, including with regard to AML/CTF, ESG ratings, Basel standards, Solvency II, EMIR and improving SMEs’ access to market-based finance.  The link below includes the press releases where further details may be found on each of the matters.

The latest edition of EBA’s report, covering high earners in 2022, shows an increase of the number of individuals working for EU banks and investment firms who have received a remuneration of more than €1m.

Further to this November 2023 consultation, BoE has published feedback, along with the final Codes of Practice, guidance and the WCD Data Catalogue. These will come into effect for recognised firms following their recognition by HMT as having market significance in respect of their wholesale cash distribution functions and activities, under wholesale cash oversight orders provided for in the new regime.

TSC has now published the text of a letter from FOS to FCA (dated 6 February 2024) which sets out what FOS describes as possible gaps in DISP related to the small business jurisdiction.

Ministers of FATF met for their biannual meeting on 18 April 2024 and have published this declaration.

The following have been published in the Official Journal: (i) Commission Delegated Regulation (EU) 2024/857 of 1 December 2023 supplementing CRD with regard to regulatory technical standards specifying a standardised methodology and a simplified standardised methodology to evaluate the risks arising from potential changes in interest rates that affect both the economic value of equity and the net interest income of an institution’s non-trading book activities; (ii) Commission Delegated Regulation (EU) 2024/856 of 1 December 2023 supplementing CRD with regard to regulatory technical standards specifying the supervisory shock scenarios, the common modelling and parametric assumptions and what constitutes a large decline.