The European Commission has published frequently asked questions (FAQs) on the Delegated Regulation on criteria to identify material risk takers.
FAQs on Delegated Regulation on criteria to identify material risk takers
AIFMD latest news
The FCA has updated its AIFMD latest news web page by adding two new sections covering:
Capital and leverage ratios for major UK banks and building societies – SS3/13
The PRA has published Supervisory Statement 3/13: Capital and leverage ratios for major UK banks and building societies (SS3/13). In SS3/13, the PRA clarifies its expectations in relation to capital and leverage ratios for the eight major UK banks and building societies. These firms will be expected to meet:
Implementing the FPC’s recommendation on loan to income ratios in mortgage lending – CP11/14
The PRA has published Consultation Paper 11/14: Implementing the Financial Policy Committee’s recommendation on loan to income ratios in mortgage lending (CP11/14).
Draft Banking Reform Act secondary legislation published
There has been published on the legislation.gov.uk website the following secondary legislation concerning the Financial Services (Banking Reform) Act 2014:
Revised principles for supervisory colleges published by the Basel Committee
The Basel Committee on Banking Supervision (BCBS) has revised the Principles for effective supervisory colleges (the College Principles). The revisions reflect the experience of BCBS members in applying the original College Principles, published in 2010, together with emerging good practice in the role and operation of colleges.
FCA directs operators of recognised funds to submit annual compliance certificate
The FCA has published a direction that it has sent to operators of funds recognised under section 272 of the Financial Services and Markets Act 2000 (FSMA) relating to the regular provision of information. Under section 277A of FSMA, the FCA has directed the operators to complete and send it an annual compliance certificate relating to the recognised funds under management. Each operator must certify that during the most recent financial year:
T2S advisory group provides additional feedback on ESMA discussion paper on draft technical standards for CSD Regulation
The European Central Bank (ECB) has published a document setting out additional feedback from the Target2-Securities advisory group (T2S AG) on the European Securities and Markets Authority’s (ESMA) discussion paper on draft technical standards for the proposed Regulation on improving securities settlement and on central securities depositories.
UK becomes first non-Islamic country to issue sovereign sukuk
The Government has confirmed that the UK has become the first country outside the Islamic world to issue sovereign sukuk, which is the Islamic equivalent of a bond.
Government acts to improve focus on customers of financial services
HM Treasury has published a document containing a summary of responses to its:
- December 2013 consultation on improving access to credit data on small and medium sized enterprises (SMEs); and
- March 2014 consultation on speeding up cheque payments through methods such as cheque imaging.