Further to a hearing held in February 2024, TSC has now published the text of a letter from FOS which provides clarifications and answers to follow-up questions.  Topics include: 18-month old cases; fraud cases; motor finance commission cases; fractional timeshare cases, and debanking cases.  TSC highlights the latter in a press release.

ESMA has published its response to a request from the EC with regard to amendments to the ELTIF technical standards.  ESMA suggests that there should be a limited number of changes to the EC’s proposed amendments.

Directive (EU) 2024/1174 of the European Parliament and of the Council of 11 April 2024 amending BRRD and SRM as regards certain aspects of the minimum requirement for own funds and eligible liabilities has been published in the Official Journal.

The SI, which is made under s138BA of FSMA, grants PRA the ability to disapply or modify the application of any of its rules made under FSMA, where appropriate, to take into account the circumstances and business models of individual firms.  (Date in force: 30 June 2024)

This is the final PRA CP needed to implement the conclusions of the Solvency II Review.  It proposes the restatement into PRA policy material of those parts of the Solvency II regime which have not already been subject to consultation as part of the Solvency II Review.  Responses are required by 22 July 2024.

In this speech of 22 April 2022, Nathanaël Benjamin discusses aspects of the private equity sector, including concerns over the dynamics of the sector with regard to its “opacity, complexity, and interconnectedness”.

FCA has published its update on its approach to AI following the Government’s publication of its pro-innovation strategy in February 2024.  It sets out what the regulator has done so far and plans for the next 12 months.

FCA is looking for expressions of interest from market participants to join its advisory committee as it is expanding its membership to 25. 

In this speech of 22 April 2024, Nikhil Rathi announces FCA’s plans to examine how Big Tech firms’ unique access to large sets of data could unlock better products, more competitive prices and wider choice for consumers and businesses.  Alongside the speech, FCA has published its feedback statement to its call for input on data sharing between Big Tech and financial services firms which sets out three key issues identified and steps FCA intends to take to address them.

MEPs have adopted a proposal for a harmonised framework to be established for the access of customer data processed by financial institutions across the financial sector beyond payment account data.  It is proposed that EBA establishes a register of authorised financial information service providers, as well as financial data access schemes agreed between data holders and data users.