November 2018

On 16 November 2018, the Dutch Minister of Justice and Security (Minister van Justitie en Veiligheid, the Minister) submitted a legislative proposal to the Dutch Parliament proposing changes to a number of laws and regulations in the Netherlands in preparation for Brexit (the Dutch Brexit Act).

The explanatory notes to the Dutch Brexit

On 29 November 2018, a draft version of the Money Laundering and Transfer of Funds (Information) (Amendment) (EU Exit) Regulations 2018, together with an explanatory memorandum, was published on legislation.gov.uk.

The draft statutory instrument makes amendments to retained EU law related to anti-money laundering to ensure that it continues to operate effectively in a

On 29 November 2018, HM Treasury published its response to its earlier consultation on the then draft The Banks and Building Societies (Priorities on Insolvency) Order 2018.

Among other things HM Treasury responds to a comment regarding the status of unpaid dividends in the revised creditor hierarchy. HM Treasury states that section 74 of the

On 29 November 2018, a draft version of the Alternative Investment Fund Managers (Amendment) (EU Exit) Regulations 2018, together with an explanatory memorandum, was published on legislation.gov.uk. The purpose of the draft statutory instrument is to address deficiencies in domestic and retained EU law and ensure that the regulatory framework under the AIFMD continues

On 30 November 2018, the European Commission published a Delegated Regulation supplementing the PSD2 with regard to RTS setting out technical requirements on development, operation and maintenance of the electronic central register within the field of payment services and on access to the information contained therein. The Commission is empowered to adopt such a Delegated

On 29 November 2018, the Basel Committee on Banking Supervision (Basel Committee) issued a press release following its meeting on 26 – 27 November 2018. At this meeting the Basel Committee:

  • agreed to a set of targeted revisions to the market risk framework which will enhance the risk sensitivity of the standardised approach, revise the

On 30 November 2018, the European Banking Authority EBA published an updated overview of Member States implementation and transposition of the CRD IV and CRR. It also provides a detailed picture of the use of options and national discretions by each Member State competent authority as well as information on the general criteria and methodologies

On November 21, 2018, the Office of the Comptroller of the Currency (the “OCC”), the Board of Governors of the Federal Reserve System (the “Board”), and the Federal Deposit Insurance Corporation (the “FDIC”) (collectively, the “Federal Banking Agencies” or the “Agencies”) jointly issued a notice