The Basel Committee on Banking Supervision (Basel Committee) has published the twelfth progress report on adoption of the Basel III regulatory framework. The updated progress report provides a high-level view of Basel Committee members’ progress in adopting Basel III standards as of end-March 2017.
As of end-March 2017, all 27 member jurisdictions have
The Market Abuse Regulation (MAR) provides a harmonised framework for the prohibition of market manipulation. This encompasses a prohibition on entering into a transaction, placing an order to trade or engaging in behaviour which gives, or is likely to give, a false or misleading signal as to the supply of, demand for, or
On April 21, 2017, the White House issued an Executive Order and two Presidential Memoranda to the U.S. Secretary of the Treasury as part of the Trump Administration’s continuing efforts on deregulation:
The Presidential Executive Order on Identifying and Reducing Tax Regulatory Burdens orders the Secretary of the Treasury, in consultation with the Office of
Continued scrutiny by authorities, enforcement actions and complex regulatory developments are at the forefront of the challenges facing all financial services providers today. A robust, sustainable and risk based framework of controls is a pre-requisite for organisations, not only to maintain compliance with regulatory obligations, but to ensure that emerging risks are identified and assessed
The following MiFID II videos have been published which look at different angles on investor protection:
The FCA has published Finalised Guidance 17/4: The fair treatment of mortgage customers in payment shortfall: impact of automatic capitalisations (FG17/4). The guidance in FG17/4 is primarily aimed at residential mortgage lenders and administrators of regulated mortgage contracts. It follows an earlier FCA guidance consultation which was published in October 2016 which is
The Association for Financial Markets in Europe (AFME) has published a questionnaire providing a standardised set of questions that can be sent bilaterally by investment firms to trading venues that may fall within the scope of MiFID II (multilateral trading facilities and organised trading facilities). AFME has also published a separate questionnaire that
The FCA has published a speech by Nausicaa Delfas, FCA Executive Director, on the steps firms can take to manage cyber-security threats.
Key points in the speech include:
The UK Government has launched a public consultation on the UK’s future legal framework for imposing and implementing sanctions. The purpose of the consultation is to seek views on the legal powers the UK Government will need upon the UK’s withdrawal from the EU to continue to be able to impose and implement sanctions. Among
The German Federal Financial Supervisory authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) and the German Central Bank (Deutsche Bundesbank) are currently working on a draft proposal for the so-called “Small Banking Box” regulation. The aim of the “Small Banking Box” is to specify the principle of proportionality in banking regulation. The new