November 2019

On Nov. 1, 2019, the US federal banking regulators published three final rules for both US banks and non-US banks with banking operations in the United States regarding prudential standards, liquidity management and resolution planning. In this edition of her New York Law Journal International Banking column, Kathleen A. Scott discusses the history of

On 29 November 2019, the FCA published a consultation paper (CP 19/31) on how to apply the Senior Managers Regime (SMR) to benchmark administrators. The SMR will come into force for benchmark administrators that do not undertake any other regulated activities on 7 December 2020. In CP 19/31, the FCA explains its proposals to:

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On 28 November 2019, the Basel Committee on Banking Supervision (Basel Committee) launched a consultation paper setting out a set of targeted adjustments to the credit valuation adjustment (CVA) risk framework issued in December 2017.

The purpose of the adjustments is to align the relevant parts of the revised CVA risk framework with the minimum

On 28 November 2019, the European Banking Authority (EBA) published its final guidelines on ICT and security risk management (the Guidelines).

The Guidelines are addressed to financial institutions, which for these purposes are: payment services providers (PSPs) as defined in Article 4(11) of the revised Payment Services Directive (PSD2) and credit institutions and investment firms

In this on-demand webinar, members of our Regulation and Investigations team in London explore regulatory and sanctions trends that emerged throughout 2019 as well as likely developments for the upcoming year based on recent enforcement cases and forward-looking statements from the regulators. To access the webinar, please click the below link and enter your details

On 27 November 2019, UK Finance announced that the seven launch signatories to its automatic push payment (APP) scams voluntary code (the Code) have agreed to continue interim funding for the ‘no-blame’ scenario until 31 March 2020.

The continuation of interim-funding is in response to Pay.UK’s recently published conclusions that there is no industry consensus

On 27 November 2019, the Basel Committee on Banking Supervision (Basel Committee) published guiding principles for the operationalisation of a sectoral countercyclical capital buffer (SCCyB).

The Basel III standards introduced a countercyclical capital buffer regime (CCyB), which was phased in from 1 January 2016 and became fully effective on

On 27 November 2019, the Dutch Central Bank (De Nederlandsche Bank, DNB) published a good practice guide on the integration of climate-related risk considerations into banks’ risk management (the Good Practice Guide) for consultation.

In the Good Practice Guide, DNB explains how the integration of climate-related risks can be implemented in

As previously blogged, the FCA introduced temporary intervention measures on the marketing of speculative illiquid securities that will apply from 1 January 2020 to 31 December 2020.

On 26 November 2019, the FCA published a related webpage setting out guidance under its existing rules on approving financial promotions of unauthorised persons. These existing requirements

On 26 November 2019, the Financial Stability Board (FSB) published an updated version (dated 25 November 2019) of its regulatory framework for haircuts on non-centrally-cleared securities financing transactions (SFTs).

The framework aims to address financial stability risks associated with SFTs. The framework includes numerical haircut floors to apply to non-bank-to-non-bank SFTs