2016

The Office of the Comptroller of the Currency (“OCC”) recently finalized two outstanding regulatory proposals. The OCC adopted a final rule addressing receiverships of national banks that lack federal deposit insurance (“uninsured national banks”). The OCC also finalized its rule on restrictions on a national bank’s transactions in industrial and commercial metals, including a ban

We would like to take this opportunity to wish all of our readers best wishes for the holiday season and a happy new year!

We would like to take this opportunity to wish all of our blog subscribers a Merry Christmas and a Happy New Year.

Our next blog postings for the UK, Italy, Germany and the Netherlands will be on Wednesday 4 January 2017.

Don’t forget that our January 40 minute briefing takes place at our London office

The European Securities and Markets Authority (ESMA) has published the results of a peer review that looks into how Member State national competent authorities (NCAs) ensure that central counterparties (CCPs) comply with margin and collateral requirements under the European Markets Infrastructure Regulation. ESMA has identified some areas where divergences

The European Banking Authority (EBA) has published a report that builds on previous work on covered bonds and provides additional recommendations on how to further harmonise Member State national frameworks. The report presents an in-depth regulatory and market analysis undertaken by the EBA as a follow up to a previous recommendation issued by

The European Banking Authority (EBA) has published a report on cyclicality of banks’ capital requirements seeking to clarify whether risk-sensitive bank capital requirements as laid down in the Capital Requirements Regulation (CRR) and the Capital Requirements Directive IV (CRD IV) create unintended pro-cyclical effects by reinforcing the endogenous relationships

The European Commission (Commission) has adopted a package of legislative measures that are intended to strengthen the EU’s capacity to fight the financing of terrorism and organised crime, delivering on the commitments made in the February 2016 Action Plan against terrorist financing.

The legislative package consists of a proposed new:

  • Directive that aims

On 12 December 2016, Ofgem published an open letter regarding scarcity pricing, reminding stakeholders of the importance of adhering to their legal obligations in the wholesale energy markets, in light of concerns raised with Ofgem regarding certain behaviours that may be taking place within the market.

Ofgem recognises that pricing will reflect scarcity and price

The International Organization of Securities Commissions (IOSCO) has updated its report on the automated advice tools survey. The updated report indicates that the market for automated investment advice has developed rapidly since IOSCO first published the report in 2014. In particular the report notes that since the 2014 survey, 14 of 17 jurisdictions

The Joint Committee of the European Supervisory Authorities (ESAs) has published a final report containing revised joint guidelines on the prudential assessment of acquisitions and increases of qualifying holdings in the financial sector. The main objective of the guidelines is to provide the necessary clarity and predictability with regard to the assessment process