There has been published in the Official Journal of the EU (OJ) a European Commission Implementing Regulation amending an earlier Implementation Regulation laying down implementing technical standards with regard to the uniform formats and date for the disclosure of the values used to identify global systemically important institutions according to the Capital Requirements Regulation. The
The FCA has published a webpage setting out a consultancy firm’s findings following research into the nature and scale of de-risking in the UK.
The FCA explains that, in recent years, it has become aware that banks are withdrawing or failing to offer banking facilities to customers in greater volume than before. There is a
The Banking Act 2009 (Commencement No. 5) Order 2016 has been published on the legislation.gov.uk website.
The Order brings into force sections 255 and 256 of the Banking Act 2009. Section 255 enables HM Treasury to make regulations about financial collateral arrangements, and the regulations may in particular include provision implementing the Financial Collateral Arrangements
From June 1, 2016, certain UK financial institutions (defined below) and members of their global group will be restricted from entering into, or materially amending, ‘financial arrangements’ governed by the laws of a ‘third country’ (being a country that is not an EU Member State) unless their counterparties enable them to meet a new, UK-specific,
Article 51(1) of MiFID II requires a regulated market to have clear and transparent rules regarding the admission of financial instruments to trading. Those rules must ensure that any instruments admitted to trading are capable of being traded in a fair, orderly and efficient manner and, in case of transferable securities, are freely negotiable.
Under
Article 52(1) of MiFID II requires a market operator to suspend or remove from trading financial instruments which no longer comply with the rules of a regulated market, unless such a step would be likely to cause significant damage to investors’ interests or the orderly functioning of the market. Furthermore, Article 52(2) of MiFID II
The European Commission (the Commission) has published a table setting out an overview of its Level 2 legislative measures in the area of financial services. The Level 2 legislative measures in the table cover those in preparation and those that have been adopted.
In each case, the information in the table comprises:
The US federal banking regulators (the Federal Reserve Board, the Federal Deposit Insurance Corporation and the Office of Comptroller of the Currency) recently issued a Notice of Proposed Rulemaking (NPRM) proposing a new regulation that would impose another liquidity requirement on large financial institutions. The net stable funding ratio, or NSFR, would require that covered
The FCA has published Guidance Consultation 16/5: Proposed Guidance on wind-down planning (GC16/5).
Annex 2 to GC16/5 contains a draft approach document, The FCA’s approach to wind-down planning. The approach document is intended to offer an approach to wind-down planning to assist any solo regulated firms that may need to wind-down. It
There has been published on the legislation.gov.uk website the Financial Services and Markets Act 2000 (Pensions Guidance) Regulations 2016. These Regulations specify terms used in the amended definition of “pensions guidance” in section 333A of the Financial Services and Markets Act 2000 (the 2000 Act). Regulation 3 specifies when an annuity is a