We are pleased to announce the following new dates for our 40 minute briefing series:
Packaged retail and insurance-based investment products (PRIIPs) are increasingly being offered that target specific social or environmental objectives, and not only purely financial objectives. In light of this, article 8(3)(c) of the PRIIPs Regulation requires a section of the key information document (KID) entitled “What is this product?” to outline the
The European Central Bank (ECB) has published a letter from Ms Daniele Nouy, Chair of the ECB Supervisory Board, to the management of significant banks. The letter sets out public guidance on how the ECB expects to be notified of transactions which go beyond the contractual obligations of a sponsor institution or an
The European Systemic Risk Board (ESRB) has published its annual report for 2016.
The report notes that the ESRB continued to identify four main risks to financial stability in the EU, namely:
On Friday, 28 July, French Autorité des Marchés Financiers (AMF) published its guide on funding of research by investment firms under MiFID II (link). This guide follows AMF’s September 2016 consultation on funding of research and the corresponding February 2017 feedback statement. It seeks to provide market participants with additional interpretation and practical
The Payments Strategy Forum (PSF) has published a consultation document, Blueprint for the future of UK payments. Calling it “the most radical change to the payments industry since the 1960s”, the PSF says that the New Payments Architecture (NPA) is designed to “provide simpler access, greater innovation, increased adaptability, improved
In November 2016, we blogged that the FCA published a Call for Input on high-cost short-term credit (HCSTC), including a review of the HCSTC price cap.
The FCA has now published Feedback Statement 17/2: High-cost credit: Including review of the high-cost short-term credit price cap (FS17/2).
Among other things, FS17/2 notes
The FCA has published a new web page concerning its work on motor finance.
The FCA notes that consumers’ use of motor finance has grown rapidly in recent years, with many credit products now available. In its Business Plan 2017-18 the FCA stated that it was looking at this market to develop its understanding of
The FCA has published Consultation Paper 17/27: Assessing credit worthiness in consumer credit: Proposed changes to FCA rules and guidance (CP17/27).
In CP17/27 the FCA sets out proposed changes to its rules and guidance on assessing creditworthiness, including affordability, in consumer credit to clarify its expectations of firms.
Whilst the FCA does not
A revised draft of the Cybercrimes and Cybersecurity Bill was tabled in Parliament in February 2017. See our previous post on the major changes to the original draft published for public comment in August 2015.
At the beginning of July 2017, the portfolio committee on justice and correctional services called for public comments on the