On 19 November 2018, the Bank of England (BoE) published a speech by James Proudman, (Executive Director, UK Deposit Takers Supervision) on the application of advanced analytics in prudential supervision.
In the speech, Mr Proudman explores the impact of AI and advanced analytics broadly on the safety and soundness of the firms supervised by the
On 19 November 2018, the International Organisation of Securities Commissions (IOSCO) published a final report on its survey on the principles for the regulation and supervision of commodity derivatives markets. The report follows on from the IOSCOs Principles for the Regulation and Supervision of Commodity Derivatives Markets (the IOSCO Principles) endorsed by the G20 in
On 19 November 2018, the International Organisation of Securities Commissions (IOSCO), jointly with other international standard setting bodies, published a final report on incentives to centrally clear over-the-counter (OTC) derivatives.
The final report provides that:
On 19 November 2018, the Financial Stability Board (FSB) published its thirteenth progress report on the implementation of the G20 over-the-counter (OTC) derivatives market reforms. The FSB notes that continued good progress is being made with regards the OTC reforms. Points of interest within the report include:
On 19 November 2018, the Financial Stability Board (FSB) published a report detailing progress by its member jurisdictions in implementing the 2015 recommendations to remove or address legal barriers to the full reporting of over-the-counter (OTC) derivatives data to trade repositories (TRs), and to access by authorities (both domestic non-primary authorities and foreign authorities) to
The House of Commons library has published a useful briefing paper ‘a user’s guide to the meaningful vote’. Here are some of the key takeaways.
The European Union (Withdrawal) Act 2018 (the ‘Withdrawal Act’) sets out a scheme whereby the Government must secure explicit Parliamentary approval of the Withdrawal Agreement and the Political Declaration on
On 16 November 2018, HM Treasury published a draft version of The Interchange Fee (Amendment) (EU Exit) Regulations 2018 (the draft Regulations) together with an explanatory memorandum.
The EU Interchange Fee Regulation (IFR) came into force on 8 June 2015, and through two main policy interventions introduced a harmonised EU regime for interchange fees:
On 15 November 2018, there was published on legislation.gov.uk the Building Societies Legislation (Amendment) (EU Exit) Regulations 2018 together with an explanatory memorandum. The Regulations contain only minor amendments to the draft published on 23 July 2018 which do not alter the substantive content of the Regulations. The Regulations were made on 14 November 2018
On 15 November 2018, the FCA published its November regulation round up – providing an update on the latest developments in the financial services sector. In the update, topics raised by the FCA to note include:
On 15 November 2018, the FCA published Consultation Paper 18/34: Regulatory fees and levies: policy proposals for 2019/20 (CP18/24). CP18/24 sets out the FCA’s proposed policy changes to the way that it will raise fees from 2019/20 – and applies to all FCA fee payers, credit rating agencies and trade repositories. These latter firms are