The Bank of England (BoE), the FCA, the PRA and the Payment Systems Regulator (together the Authorities) have a Memorandum of Understanding (MoU) that sets out the high-level framework the Authorities use to cooperate with one another, in relation to payment systems in the UK. The Financial Services (Banking Reform
The Financial Sector Regulation Bill was signed into law by President Zuma on 21 August 2017. The commencement dates for the new Financial Sector Regulation Act (FSR Act) are not yet known.
The act provides the architecture for the new ‘twin peaks’ method of regulation to be adopted across the South African financial services industry,
Check out this article prepared by my colleagues, Andrew Fleming, Tracey Kernahan, Jonathan Herbst and Simon Lovegrove.
There has been published in the Official Journal of the EU, Decision (EU) 2017/1493 of the European Central Bank (ECB) amending Decision ECB/2014/29 on the provision to the ECB of supervisory data reported to the national competent authorities by supervised entities pursuant to Commission Implementing Regulation (EU) No 680/2014 (ECB/2017/23).
Decision (EU) 2017/1493
The PRA has published the following letters concerning its latest annual assessment of the credit union sector:
On August 14, 2017, the US federal banking agencies (Federal Reserve Board (FRB), Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC)) issued interagency guidance on the risk-based capital treatment of certain centrally cleared derivative contracts.
The guidance was issued because some central counterparties recently modified margin requirements for certain centrally
Article 129(1) of the Capital Requirements Regulation (CRR) grants preferential treatment to covered bonds collateralized by senior units issued by French Fonds Communs de Titrisation or equivalent securitization entities, securitising residential (point (d)) or commercial (point (f)) property exposures, provided that certain conditions are met:
On 13 January 2017, the European Commission (Commission) published a proposed Regulation for central counterparty (CCP) supervision. Ahead of this proposal, the International Swaps and Derivatives Association (ISDA) highlighted the issues associated with a possible location policy in a letter sent to the Commission Vice- President Valdis Dombrovskis on
The German Federal Financial Supervisory Authority (BaFin) published a new guidance note (Merkblatt) on the authorization procedure for credit institutions. The guidance note provides details on the regulatory requirements for the licensing of credit institutions (e.g. information about the intended business and the applicant, business plan, governance structure, management pursuant, holders
The FCA has published Consultation Paper 17/31: Market infrastructure providers – 2017/18 fee rates (CP17/31). CP17/31 should be read by recognised investment exchanges, benchmark administrators and data reporting services providers. It may also be of interest to other market infrastructure providers in the B fee-block.
The FCA is completing the setting of the