On 16 January 2020, the Working Group on Sterling Risk-Free Reference Rates (RFRWG) published a paper on The use cases of benchmark rates: compounded in arrears, term rate and further alternatives.
The paper is addressed to financial firms and non-financial end users, such as corporates, small to medium size enterprises, retail consumers
On 16 January 2020, the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published its agenda for 2020 (the 2020 Agenda) and a strategy document outlining the AFM’s focus areas for the coming years (the 2020-2022 Strategy Document).
In the 2020 Agenda the AFM states that the
On 14 January 2020, the Decree amending the Suitability Policy Rule 2012 (Besluit tot wijziging van de Beleidsregel Geschiktheid 2012, the Decree) was published in the Bulletin of Acts and Decrees (Staatscourant). Since its consultation in June 2019, some minor changes have been made to the Decree, including but not limited
Happy New Year to all our readers!
The past year saw a marked shift in regulatory expectations for the anti-money laundering (AML) and anti-terrorist financing (ATF) regime in Canada. In this blog post, we provide a quick recap of the key regulatory developments in the Canadian AML/ATF regime over the past
On 16 January 2020, the International Organization of Securities Commissions (IOSCO) published a report recommending that trading venues and their participants synchronise the clocks they use for timestamping a reportable event with coordinated universal time (UTC).
UTC is computed by taking the weighted average of more than 300 atomic clocks located
On 16 January 2020, the European Banking Authority (EBA) published a report on the application by Member State competent authorities (NCAs) of the regulatory technical standards (RTS) on the criteria to identify categories of staff whose professional activities have a material impact on an institution’s risk profile. The review
On 16 January 2020, the FCA updated its webpage on strong customer authentication (SCA) under the revised Payment Services Directive by adding a section on the use of eIDAS certificates.
The new section notes that:
On 16 January 2020, the Global Financial Innovation Network (GFiN) published a report on the lessons learned on the cross-border testing pilot.
The GFiN was created to provide a more efficient way for innovative firms to interact with regulators, helping them navigate between countries as they look to scale and test new ideas.
On 16 January 2020, the Financial Services Compensation Scheme (FSCS) published its Plan and Budget 2020/21. The Plan and Budget is led by the FSCS’ strategy for the 2020s, which is now in its second year following its launch in November 2018.
The Plan and Budget 2020/21 sets out the progress that
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. The statement is intended to encourage participants in the sterling bond market (including sterling floating rate notes, covered bonds and