On 24 September 2018, the European Banking Authority (EBA) issued a press release announcing the launch of its fifth annual EU-wide transparency exercise. In December 2018, together with the Risk Assessment Report (RAR), the EBA will release over 900000 data points on roughly 130 EU banks. The data to be released will cover:
On 21 September 2018, the European Securities and Markets Authority (ESMA) published an opinion (the Opinion) on the European Commission’s (the Commission’s) revised proposal for amending Delegated Regulation (EU) 2017/587 (RTS 1). On 10 August 2018, the Commission endorsed, with amendments, ESMA’s proposal to amend RTS 1 to specify the concept of ‘prices reflecting
On 21 September 2018, the European Committee on Economic and Monetary Affairs (ECON) published two draft reports (the Reports) on European Parliament proposals in relation to the cross-border distribution of collective investment funds:
On 21 September 2018, the European Central Bank (ECB) published its guide to on-site inspections and internal model investigations (the Guide). The Guide acts as a reference document for the supervised entities and other legal entities for which the ECB has decided to launch an on-site inspection of. The Guide applies to inspections conducted in
On 21 September 2018, there was published in the Official Journal of the European Union (OJ) the Recommendation of the European Systemic Risk Board (ESRB) of 16 July 2018 amending Recommendation ESRB/2015/2 on the assessment of cross-border effects of and voluntary reciprocity for macroprudential policy measures (the Recommendation).
The Recommendation amends ESRB/2015/2 by recommending that
Norton Rose Fulbright is pleased to be sponsoring the 1LoD Summit in London on November 15.
The 1LoD Summit is the largest event in the world dedicated to the front office risk and control function within the business. Topics on the agenda will include Supervision, Control Assurance, Conduct Risk, Surveillance, Rogue Trading and more.
The
Our latest Brexit video on Financial market infrastructure is available here.
On 20 September 2018, the FCA published Consultation Paper 18/26: Claims management companies: how we propose to apply the Senior Managers and Certification Regime, (CP18/26).
Claims management companies (CMCs) will be regulated by the FCA from April 2019, and as such will be required to comply with the Senior Managers and Certification Regime (SM&CR), particularly
On 20 September 2018, the Basel Committee on Banking Supervision (BCBS) published a press release on the outcome of their meeting of 19 and 20 September 2018 (the Press Release). The Press Release notes that the BCBS discussed:
On 20 September 2018, the Basel Committee on Banking Supervision (BCBS) published responses to FAQs relating to the treatment of settled-to-market derivatives under the liquidity coverage ratio and net stable funding ratio. The FAQ responses clarify that the liquidity risks associated with settled-to-market derivatives are the same as those for more conventional collateralised-to-market derivatives, and