The Bank of England (BoE) has published a consultation paper which sets out the BoE’s proposed policy for the capabilities firms should have in place to ensure that an inability to produce timely and robust resolution valuations does not impede resolvability. Under the proposed policy, firms would be expected to have capabilities in
The Payment Systems Regulator (PSR) has published Consultation Paper 17/30: PSR regulatory fees 2018/19: Consultation on 2018/19 PSR regulatory fees for the funding of the PSR’s Financial Services (Banking Reform) Act 2013 , the Interchange Fee Regulation and the revised Payment Services Directive functions (CP17/30).
In CP17/30 the PSR sets out
There has been published in the Official Journal of the European Union (OJ), a Commission Implementing Regulation that amends an earlier Implementing Regulation that lays down implementing technical standards with regard to supervisory reporting of institutions according to the Capital Requirements Regulation. The amendments relate to the provisions in Regulation 680/2014 concerning financial
The European Commission implementing regulation ((EU) 2017/1469) on the format and content of the Insurance Product Information Document (IPID) was published in the Official Journal of the European Union on 12 August 2017. The IPID is a requirement under the Insurance Distribution Directive ((EU) 2016/97) (IDD). As a regulation, (EU) 2017/1469 will have direct effect in the UK until Brexit.
We have published a new briefing note comparing the bail-in regimes in Canada and the UK.
The guide can be found here.
The European Securities and Markets Authority (ESMA) has published responses to its Consultation Paper: Update of the guidelines on the application of the endorsement regime under Article 4(3) of the Credit Rating Agencies Regulation published in April 2017. Respondents include:
The European Central Bank (ECB) has published an interview with Sabine Lautenschlager, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB. In her interview there is a discussion about developments in the preparatory work of banks and supervision in light of the UK leaving the
MiFIR introduces pre-trade and post-trade transparency requirements in respect of bonds, structured finance products, emission allowances and derivatives, subject to certain conditions and to certain waivers. In particular, Article 9(1)(e) of MiFIR provides for a waiver specific to package orders: under certain conditions, package orders can be granted a waiver from pre-trade transparency, but the
The Financial Ombudsman Service (FOS) has published the latest issue of its newsletter, Ombudsman news (issue 141). This issue of Ombudsman news contains:
The European Securities and Markets Authority (ESMA) has published an updated version of its guidelines on transaction reporting, order record keeping and clock synchronisation under MiFID II. The updated version of the guidelines corrects some unintended factual mistakes, typos and inconsistencies in the technical part of the guidelines.
ESMA emphasises that none of