The FCA has published Feedback Statement 15/5: Feedback statement to The FCA’s approach to advancing its objectives (FS15/5).
In FS15/5 the FCA reports on the feedback it received to its publication in July 2013 of general guidance on what firms and consumers can expect from it and how it intends to deliver its statutory responsibilities.
There has been published on the legislation.gov.uk website the Payment Account Regulations 2015, together with an explanatory memorandum, a final impact assessment (dated 6 August 2015) and a transposition note.
The Regulations implement the Payment Accounts Directive and come into force on 18 September 2016, unless otherwise stated.
The UK’s special resolution regime was recently updated to transpose the Bank Recovery and Resolution Directive (BRRD, following a consultation published in July 2014.
Since then the Government has identified a small number of changes to the legislation that would clarify and strengthen the UK’s transposition of the BRRD. HM Treasury has now issued a
The PRA has published a document setting out the additional leverage ratio buffer model requirements for global systemically important institutions (G-SIIs).
In PRA Supervisory Statement 45/15: The UK leverage ratio framework, it was stated that G-SIIs, to which the UK leverage ratio framework applies, will be invited to apply for a voluntary requirement (VREQ)
There has been published on the legislation.gov.uk website the Financial Services (Banking Reform) Act 2013 (Commencement No.9) (Amendment) Order 2015.
The Order amends the Financial Services (Banking Reform) Act 2013 (Commencement No.9) Order 2015 (the 2015 Order) which brings into force certain provisions of the Financial Services (Banking Reform) Act 2013 (the Act) relating to
The UK Parliament has published an updated version of the Bank of England and Financial Services Bill 2015-16 following amendments made in the report stage in the House of Lords.
The International Organization of Securities Commissions (IOSCO) has published a final report, Liquidity management tools in collective investment schemes: results from an IOSCO Committee 5 survey to members, that maps existing liquidity management frameworks in 26 member jurisdictions with a particular focus on tools to help deal with exceptional situations.
The final report highlights,
The European Securities and Markets Authority has announced that it is extending the deadline for comments on its consultation paper on regulatory technical standards on the European Single Electronic Format to 18 January 2016. The previous deadline was 24 December 2015.
The European Securities and Markets Authority (ESMA) has published an updated version of its Q&A document on prospectus related issues.
ESMA notes that a new question, number 96, has been added regarding the level of disclosure that should be included in a prospectus related to securities which may be subject to write-down or conversion powers
The European Commission has published a report on the international treatment of public bodies charged with, or intervening in, public debt management and of central banks in third countries under the Market Abuse Regulation (MAR).
Article 6(1) MAR exempts Member States, members of the European System of Central Banks, ministries and other agencies and special