25213 Search Results for
  • ESMA: Speech by Verena Ross: Building more effective and attractive capital markets in the EU

    24.05.2024
    Text of Verena Ross’s speech of 23 May 2024 in which she discusses ESMA’s recent position paper and the MiFIR review.

    Text of Verena Ross’s speech of 23 May 2024 in which she discusses ESMA’s recent position paper and the MiFIR review.

    Support Information:
    https://www.esma.europa.eu/sites/default/files/2024-05/ESMA24-450544452-2177_Verena_Ross_Keynote_speech_at_ICMA_AGM_2024.pdf
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  • EBA: Report on virtual IBANs

    24.05.2024
    EBA’s report sets out the characteristics of virtual IBANs, explains various use cases it has observed in the market, summarises potential benefits as perceived by market actors, and identifies challenges...

    EBA’s report sets out the characteristics of virtual IBANs, explains various use cases it has observed in the market, summarises potential benefits as perceived by market actors, and identifies challenges and issues associated with this practice.  EBA expresses concerns over divergences between national authorities in interpreting and applying existing EU financial services law to virtual IBANs, in particular the AMLD, PSD, CRD and SEPA Regulation, which give rise to regulatory arbitrage.

    Support Information:
    https://www.eba.europa.eu/sites/default/files/2024-05/612f03de-965a-4157-b638-1b4c5b081f87/EBA%20Report%20on%20virtual%20IBANs.pdf
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  • HMT/EC: EU-UK Financial Regulatory Forum

    24.05.2024
    HMT and the EC have published a joint statement on the second EU-UK Financial Regulatory Forum, which took place on 22 May 2024.  Topics under discussion include: regulatory and market developments...

    HMT and the EC have published a joint statement on the second EU-UK Financial Regulatory Forum, which took place on 22 May 2024.  Topics under discussion include: regulatory and market developments and financial stability outlook; banking and AML; sustainable finance; capital markets; asset management, and digital finance and AI.

    Support Information:
    https://www.gov.uk/government/publications/joint-statement-eu-uk-financial-regulatory-forum-may-2024/joint-eu-uk-financial-regulatory-forum
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  • The Russia (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2024/695

    24.05.2024
    This SI amends regulation 6 (designation criteria) of the Regulations to introduce additional activities for which a person may designated, including the provision of financial services.  (Date in...

    This SI amends regulation 6 (designation criteria) of the Regulations to introduce additional activities for which a person may designated, including the provision of financial services.  (Date in force: 28 May 2024)

    Support Information:
    https://www.legislation.gov.uk/uksi/2024/695/contents/made
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  • FCA: Handbook Notice 119

    24.05.2024
    FCA has published details of Instruments passed at Board meetings held on 25 April and 23 May 2024.  These are: Securitisation (Smarter Regulatory Framework and Consequential Amendments) Instrument...

    FCA has published details of Instruments passed at Board meetings held on 25 April and 23 May 2024.  These are: Securitisation (Smarter Regulatory Framework and Consequential Amendments) Instrument 2024/18 and Training and Competence Sourcebook (Amendment) Instrument 2024/20.

    Support Information:
    https://www.fca.org.uk/publication/handbook/handbook-notice-119.pdf
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  • EC: Corporate sustainability due diligence – Council gives its final approval

    24.05.2024
    The Council has formally adopted the corporate sustainability due diligence directive. This is the last step in the decision-making procedure.

    The Council has formally adopted the corporate sustainability due diligence directive. This is the last step in the decision-making procedure.

    Support Information:
    https://www.consilium.europa.eu/en/press/press-releases/2024/05/24/corporate-sustainability-due-diligence-council-gives-its-final-approval/
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  • FOS: Charging professional representatives

    23.05.2024
    FOS is consulting on proposals to charge claims management companies and other professional representatives up to £250 to lodge a case, reduced to £75 if the case outcome is in favour of the...

    FOS is consulting on proposals to charge claims management companies and other professional representatives up to £250 to lodge a case, reduced to £75 if the case outcome is in favour of the consumer.  As is the case for financial services firms, all professional representatives will be allowed three free cases a year, beyond that they will be charged the £250 fee – reduced to £75 if the consumer’s complaint is upheld.  Responses are required by 4 July 2024.

    Support Information:
    https://www.financial-ombudsman.org.uk/files/324432/Consultation-charging-claims-management-companies-and-other-professional-representatives.pdf
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  • FCA: Speech by Ashley Alder: Our ambitious agenda for UK asset management

    23.05.2024
    Text of Ashley Alder’s speech of 22 May 2024 has been published.  Specific topics include: the Smarter Regulatory Framework; private finance, NBFI and valuations; retail investments; SDR, and...

    Text of Ashley Alder’s speech of 22 May 2024 has been published.  Specific topics include: the Smarter Regulatory Framework; private finance, NBFI and valuations; retail investments; SDR, and innovation.

    Support Information:
    https://www.fca.org.uk/news/speeches/our-ambitious-agenda-uk-asset-management
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  • PRA: PS8/24: The PRA’s approach to the authorisation and supervision of insurance branches

    23.05.2024
    Further to CP21/23, PRA has published feedback and final policy, including a new SoP replacing SS2/18 and current and future versions of the updated SS44/15.

    Further to CP21/23, PRA has published feedback and final policy, including a new SoP replacing SS2/18 and current and future versions of the updated SS44/15.

    Support Information:
    https://www.bankofengland.co.uk/prudential-regulation/publication/2024/may/the-pras-approach-to-the-authorisation-and-supervision-of-insurance-branches
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  • BoE: Approach to statutory notice decisions for use of its requirements powers

    23.05.2024
    This PS provides feedback to responses to the December 2023 CP on BoE’s proposed approach to statutory notice decisions for use of its requirements powers.  The final SoP enters into effect...

    This PS provides feedback to responses to the December 2023 CP on BoE’s proposed approach to statutory notice decisions for use of its requirements powers.  The final SoP enters into effect on 23 May 2024.

    Support Information:
    https://www.bankofengland.co.uk/paper/2024/policy-statement/the-boes-approach-to-statutory-notice-decisions-for-use-of-its-requirements-powers-may-2024
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