On 17 April 2018, the European Banking Authority (EBA) issued a consultation paper on guidelines concerning the types of exposures to be associated with high risk under Article 128(3) of the Capital Requirements Regulation (CRR).
The draft guidelines consist of two sections. The first section aims at clarifying the notion of investments in venture capital
The legislative review of the European Commission’s June 2017 proposal amending EMIR in respect of the supervision of EU and third country CCPs (EMIR CCP Supervision) is gathering pace. On 13 April the secretariat of the European Parliament’s Economic and Monetary Affairs (ECON) committee published over 500 amendments tabled by the members to Danuta Hübner’s
On 17 April 2018, the European Commission published a draft of a further Implementing Regulation extending the transitional periods related to own funds requirements for exposures to central counterparties set out in the Capital Requirements Regulation (CRR) and the European Markets Infrastructure Regulation (EMIR).
The draft Implementing Regulation provides that the 15 month period referred
The webex recording of our April 40 minute client briefing, The Prudential Academy is now available.
On 16 April 2018, the FCA published a transcript of the press conference that took place to mark the launch of its Business Plan for 2018-19. An extract from one of the Brexit related questions and the FCA’s answer is set out below:
Huw Jones (Reuters): I’ve a question on Brexit. Last month, you and
On 16 April 2018, the Global Financial Markets Association (GFMA) published Guiding Principles for Market Transparency. The GFMA supports transparency requirements that are appropriately tailored for regulators to enhance market integrity through surveillance.
The GFMA encourages policymakers and regulators to design market transparency frameworks in line with the following principles:
On 16 April 2018, the European Banking Authority (EBA) published a draft final report containing draft implementing standards on the provision of information for the purpose of resolution plans under Article 11(3) of the Bank Recovery and Resolution Directive (BRRD).
The EBA published the original Implementing Technical Standards (ITS) on information for resolution plans in
Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regulator, AUSTRAC, has released its guidance with respect to new laws that require digital currency exchange (DCE) providers to register and comply with AML/CTF obligations.
AUSTRAC takes a broad approach in interpreting what is covered within the legal definition of a DCE. Essentially, any
On 12 April 2018, ICE Benchmark Administration issued a consultation paper on a revised version of the London Interbank Offered Rate (LIBOR) code of conduct. When finalised the code should be read in conjunction with Article 15 of the EU Benchmarks Regulation and the governance and control requirements for supervised contributors in Article 16 of
The Competition and Markets Authority (CMA) has issued a consultative working paper as part of its investment consultants’ market investigation. The working paper sets out the CMA’s initial analysis of trustee engagement with investment consultancy and fiduciary management. It considers the extent to which pension scheme trustees are able to assess the value for money