PRA recently concluded a thematic review of firms’ private equity financing risk management frameworks and has published the text of a “Dear CRO” letter to banks included in the review.  The review specifically looked at the adequacy of banks’ risk management frameworks that govern their private equity linked financing businesses and related derivatives exposures.  CROs are asked to review the findings and assess against current practices at their firms.  PRA has also published the text of a speech by Rebecca Jackson, in which she sets out the findings of the review, noting that the review identified the trends of “creeping leverage, large exposures, complicated structures, and poor risk aggregation”.

FCA has assessed the key harms and drivers of harm caused by Appointed Representatives and Introducer Appointed Representatives who undertake credit brok­ing.

PSR has published a document that sets out a proposed set of principles that describes regulatory expectations of supervised payment systems operators.  Stakeholders are invited to provide feedback, to be received by 7 June 2024.

The purpose of the statement to support firms in applying model risk management frameworks in a proportionate and tailored manner to models deployed in their electronic trading al­gorithms.

Ahead of its second reading in May 2024, this HoL research briefing provides details of this private member’s bill which allows changes to be made to the Building Societies Act 1986 intended to support building societies and align some of their processes with banks