On 30 January 2017, the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) invited about 50 representatives of foreign banks to a supervisory workshop in Frankfurt to discuss specialist issues related to Brexit.
In the weeks leading up to the workshop, many institutions had already contacted BaFin to find out about regulatory
The new Trump Administration moved quickly to impose a freeze on regulatory rulemaking, a not uncommon event when a new President is from a different political party than the previous President. In a January 20, 2017, Memorandum to the heads of executive departments and agencies, Reince Priebus, Assistant to the President and Chief of Staff,
In its press release of 26 January 2017, the Dutch Central Bank (De Nederlandsche Bank, DNB) emphasised the crucial role of the financial sector in detecting and combating the financing of terrorism. DNB expects that financial institutions take their role seriously and actively meet their obligations in this respect, such as client
On 25 January 2017, the Dutch Central Bank (De Nederlandsche Bank, DNB) announced that in Q2 or Q3 of 2017 it will invite a number of insurers to discuss the opportunities and challenges that technological innovation bring to the Dutch insurance sector.
DNB believes that technological innovation will greatly impact the insurance
On 26 January 2017, the Government presented to the House of Commons, The European Union (Notification of Withdraw) Bill. The Bill was given its First Reading in the House of Commons.
First Reading stage is a formal stage and takes place without debate. MPs will debate the overall principles of the Bill at Second Reading
The Basel Committee on Banking Supervision has published a first set of frequently asked questions on the revised market risk standard. The questions and answers include clarifications both to the standardised approach and the internal models approach.
View Frequently asked questions on market risk capital requirements, 26 January 2017
The Bank of England has published a speech given by its Governor, Mark Carney. The speech is entitled The promise of FinTech – something new under the sun?
In his speech Mr Carney discusses some the benefits and financial stability issues that FinTech brings. Among other things a number of conduct issues associated with new
The FCA has published its latest Handbook Notice (no. 40) describing the changes the FCA has made to its Handbook on 25 January 2017. The changes to the Handbook were made by the following instruments:
The European Securities and Markets Authority (ESMA) has published a speech given by its chairman, Steven Maijoor, in which he considers two major reforms that are currently taking place in EU financial markets – over-the-counter (OTC) derivatives markets reform and benchmark reform.
In relation to OTC derivatives markets reform, points of
There was published on the legislation.gov.uk website, the Bank of England and Financial Services Act 2016 (Commencement No 4 and Saving Provision) Regulations 2017. Regulation 2 brings into force provisions of the Act that relate to, among others, the transfer of the PRA’s functions to the Bank of England (BoE) and the establishment