On 20 January 2020, the Dutch Central Bank (De Nederlandsche Bank, DNB) and the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published a draft enforcement policy for public consultation.
DNB and the AFM have the task of supervising compliance with financial laws and regulations in
On 20 January 2020, the European Central Bank (ECB) published a consultation on a draft ECB guideline that specifies how Member State national competent authorities (NCAs) shall exercise the discretion conferred on them under Article 178(2)(d) of the Capital Requirements Regulation (CRR) in relation to less significant institutions with
Our extended 40 minute briefing on 5 February 2020 will be a practical workshop involving lawyers and compliance professionals leading roundtable discussions that provide insight into the FCA’s and PRA’s approach to the scenarios set out below and the good and poor practices they have observed from firms:
On 17 January 2020, the FCA published a new webpage providing further data on the mortgage prisoner population.
Key findings include:
On 17 January 2020, the PRA updated its webpage concerning Policy Statement 17/19: Supervising international banks: revision of the branch return.
On its webpage the PRA states that it has identified that the branch return form published on 12 September 2019 contains incorrect validations in Part 3. Specifically, validation BRv011 should only apply to column
On 17 January 2020, the European Securities and Markets Authority (ESMA) published a consultation paper on guidelines on securitisation repository data completeness and consistency thresholds.
Article 10(7) of the Securitisation Regulation requires ESMA to define regulatory technical standards (RTS) on securitisation repository procedures to “verify the completeness and consistency of the
On 15 January 2020, the European Cards Stakeholders Group (ECSG), the industry association overseeing cards standardisation in the Single Euro Payments Area, has published version 9.0 of the SEPA Cards Standardisation Volume (the SCS Volume). Version 9.0 of the SCS Volume takes effect immediately for a three year period.
In version 9
Our risk consulting team is pleased to sponsor the Financial Services Compliance & Risk Conference, a one-day industry-led conference taking place on March 4, 2020 in London.
Amidst increased regulatory expectations, emerging technologies and changing business models, financial services companies must continue to evolve their risk and compliance strategies. This conference will see compliance
The German Federal Financial Supervisory Authority (BaFin) has issued a guidance notice on dealing with sustainability risks (ESG Guidance Notice). The binding German version was published on 20 December 2019 and later editorially modified on 13 January 2020. Further, BaFin has now also made available an English convenience translation.
The
On 16 January 2020, the Working Group on Sterling Risk-Free Reference Rates (RFRWG) published a statement entitled “Progress on the transition of LIBOR – referencing legacy bonds to SONIA by way of consent solicitation“. In the statement, the RFRWG welcomes the consent solicitations that have already taken place or are underway