On 28 November 2018, the European Central Bank (ECB) published a speech by Yves Mersch, Member of the Executive Board of the ECB, on climate change and central banking. Mr Mersch notes that climate change poses the risk of considerable social costs and economic disruption. The challenges of climate change are social issues. Mr Mersch
We have just updated two guides on the AIFMD, which has now been in force for approximately five years. Both guides, which are now in their fourth iteration, cover 15 EU jurisdictions – Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden and the UK – with input provided by
On 27 November 2018, there was published on legislation.gov.uk a correction slip to the Financial Services (Banking Reform) Act 2013. The correction slip notes that under section 106 of the Act, subsections (5), (6), (7), (8), (9) and (10) should be renumbered as subsections (3), (4), (5), (6), (7) and (8) respectively.
On 27 November 2018, the FCA published a press release announcing that it will be delaying the launch of its Credit Information Market Study (CIMS) Terms of Reference until June 2019 in order to prioritise its market study on general insurance pricing.
The CIMS is intended to help the FCA gain a better understanding of
On 27 November 2018, the FCA published a report on its 2017-2018 cross-sector survey on cyber and technology resilience. The FCA surveyed 296 firms during 2017 to 2018 to assess their technology and cyber capabilities. The survey looked at key areas such as governance, delivery of change management, managing third party risks and effective cyber
On 27 November 2018, the Financial Stability Board (FSB) published a letter to G20 leaders on its progress made during 2018. The letter is structured along the priorities of the G20 Argentine Presidency:
Our next 40 minute briefing on the Senior Managers’ Regime will be held on 5 December 2018. To register for the briefing please click here.
On 26 November 2018, there was published in the Official Journal of the EU, Regulation (EU) 2018/1845 of the European Central Bank (ECB) of 21 November 2018 on the exercise of the discretion under Article 178(2)(d) of the Capital Requirements Regulation in relation to the threshold for assessing the materiality of credit obligations past due
On 26 November 2018, the Financial Stability Board (FSB) appointed Randal K Quarles (Governor and Vice Chairman for Supervision at the US Federal Reserve) as its new Chair and Klaas Knot (President of De Nederlandsche Bank) as Vice Chair, for a three year term starting on 2 December 2018. After the three year term Mr
On 23 November 2018, HM Treasury issued explanatory information on The Benchmarks (Amendment) (EU Exit) Regulations 2018. The draft statutory instrument is yet to be published.
HM Treasury explains that the draft statutory instrument is part of its wider work to prepare for the UK’s withdrawal from the EU. The draft statutory instrument is not