Jonathan Herbst, Global Head of Financial Services, and Chris Warren-Smith, Global Head of Investigations, reflect on the recently published FCA Business Plan in which the regulator sets out its emphasis on financial crime as one of the FCA’s key themes in the coming year”.
View The new financial crime risk agenda, 22 April 2016
The European Commission has adopted a Delegated Regulation amending Delegated Regulation No. 153/2013 that supplements the European Markets Infrastructure Regulation.
Delegated Regulation No. 153/2013 lays down regulatory technical standards on requirements for central counterparties (CCPs) regarding the time horizons for the liquidation period to be considered for the different classes of financial instruments.
The Delegated
Interest rate risk in the banking book (IRRBB) is part of the Basel capital framework’s Pillar 2 (supervisory review process) and subject to the Basel Committee’s guidance set out in the 2004 Principles for the management and supervision of interest rate risk (the IRR Principles). The IRR Principles lay out the Basel Committee’s expectations for
On April 20th, the Federal Government introduced legislation to implement a bail-in regime for domestic systemically important banks (D-SIB). The regime is intended to reduce the likelihood that one of these banks would require a government bail-out in the event that the bank experienced significant losses. The Office of the Superintendent of Financial
On 20 April 2016, the UK Supreme Court issued its judgement in the case of Asset Land Investment plc v FCA confirming that Asset Land Investment plc (Asset Land) had been operating an unauthorised collective investment scheme (CIS) in the course of operating a land bank which involved the selling of small plots of land
The Home Office and HM Treasury have issued a joint action plan for combating anti-money laundering (AML) and counter-terrorist financing (CTF) activities in the UK.
This action plan proposes significant change to the UK’s AML and CTF regimes and sends a clear message that the Government will not tolerate money laundering or the funding of
There has been published on the legislation.gov.uk website the Financial Services (Banking Reform) Act 2013 (Commencement No. 10) Order 2016.
The Order brings into force on 21 April 2016 certain provisions of the Financial Services (Banking Reform) Act 2013 (the Act). In particular:
On 19 April 2016, the Dutch Minister of Finance published a further report (the Report) in relation to the legislative proposal implementing the Market Abuse Regulation (No 596/2014) and the Directive on criminal sanctions for market abuse (2014/57/EU) in Dutch legislation (the Proposal). The Report contains the advice from the Advisory Division of
In response to Opposition calls for a Royal Commission into the banking sector, the Australian Government has announced a $127 million reform package aimed at increasing the powers of Australia’s corporate watchdog, ASIC. A key component of that package will be the accelerated implementation of two key recommendations of the Financial System Inquiry: an obligation
On 19 April 2016, the Dutch Minister of Finance published a legislative proposal implementing the Market Abuse Regulation (No 596/2014) (MAR) and the Directive on criminal sanctions for market abuse (2014/57/EU) (MAD II) in the Netherlands. The Act implementing the market abuse regulation and directive (Wet implementatie verordening en richtlijn