On 29 October 2020, the European Banking Authority (EBA) issued a public consultation on its guidelines on sound remuneration policies. The consultation proposals take into account the amendments introduced by the Fifth Capital Requirements Directive (CRD V) in relation to institutions’ sound remuneration policies and in particular the requirement that those
On 29 October 2020, the FCA published a Dear CEO letter it had sent to those firms allocated to the Mortgage Intermediaries portfolio.
In the Dear CEO letter the FCA:
On 28 October 2020, the Bank of England (BoE) updated its webpage ‘A new messaging standard for UK payments: ISO 20022’. The BoE reports that it has published the CHAPS & RTGS ISO 20022 migration: revised approach and final schemas document. This is the new baseline document that stakeholders, such as CHAPS Direct
On 29 October 2020, the European Securities and Markets Authority (ESMA) published a final report on amendments to the Market Abuse Regulation (MAR) for the promotion of the use of SME growth markets.
Regulation (EU) 2019/21158 on the promotion of the use of SME growth markets (SME GM Regulation)
On 29 October 2020, the Financial Stability Board’s (FSB) task force on climate-related financial disclosures (TCFD) published its 2020 status report on TCFD-aligned disclosures by firms.
The FSB established the TCFD in 2015 and tasked it with developing a set of voluntary, consistent disclosure recommendations for use by companies in providing
On 29 October 2020, the FCA issued a statement advising that it will be among 23 regulators across 5 continents taking part in the cross-border testing initiative organised by the Global Financial Innovation Network (GFIN).
Firms interested in applying to take part in cross-border testing should review the list of participating regulators and
On 28 October 2020, the European Fund and Asset Management Association (EFAMA) published updates to the ‘IIFA Cybersecurity Program Basics, a document that lays out the key cyber-prevention standards for investment management companies.
The document sets out key cyber-prevention standards for investment management companies. The commonly-shared principles that firms should apply in order
On 29 October 2020, the European Banking Authority (EBA) published its first monitoring report on the minimum requirement for own funds and eligible liabilities (MREL) and total loss absorbing capacity (TLAC) instruments.
The EBA has prepared the report in accordance with Article 80(1) of the Capital Requirements Regulation which
The proposal for a Regulation on digital operational resilience in the EU financial sector (DORA) is making its first steps through the EU legislative process. The proposal, which would introduce a detailed legislative framework on operational resilience for financial institutions in the EU, has entered the negotiating phase in the Council. Member States are
Join us at the ‘UK’s Post-Transition Regulatory Regime for Financial Services Virtual Summit’ on 12 November 2020, to ensure that you are both fully prepared for the end of the transition period and understand the implications for your firm of the UK’s planned regulatory regime for financial services after this point.
Keynote speakers