On 18 September 2020, the UK regulatory authorities (HM Treasury, Bank of England, PRA, FCA, Payment Systems Regulator, Competition and Markets Authority, the Pensions Regulator and the Information Commissioners Office) published an updated version of the Financial Services Regulatory Initiatives Grid.
This edition of the Grid contains 111 initiatives, an increase on the 85
On 18 September 2020, the European Banking Authority (EBA) published an opinion addressed to the European Commission to raise awareness as to the opportunity to clarify certain issues relating to the definition of credit institution in the upcoming review of the Capital Requirements Regulation (CRR) and the Capital Requirements Directive IV.
On 18 September 2020, the European Central Bank (ECB) published its finalised guide outlining the methodology it uses to assess how euro area banks under its supervision calculate their exposure to counterparty credit risk (CCR) and advanced credit valuation adjustment (CVA) risk, following a public consultation which ended on
On 18 September 2020, the FCA issued a statement in response to queries from cannabis-related companies interested in listing in the UK. The FCA statement is pending a guidance consultation which will follow in due course.
Key points in the statement include:
The COVID-19 pandemic has impacted the lives of every individual across the country and brought the fair treatment of customers into even sharper focus. As the virus began to unfold, the regulator took swift action to publish various guidance outlining its expectations as to how firms should treat customers who are impacted by it to
On 17 September 2020, the European Banking Authority (EBA) published an online survey to receive input from credit institutions on their practices and views in the area of disclosure of information on environmental, social and governance (ESG) risks. The survey, which is addressed to large credit institutions that will be required
On 17 September 2020, the FCA published a new web page, LIBOR transition: getting my firm ready. On this web page the FCA explains what firms need to know about LIBOR transition.
The web page starts by setting out information useful to all regulated firms concerning LIBOR transition. This includes that a key consideration
On 17 September 2020, the European Securities and Markets Authority (ESMA) announced that it was renewing its decision to temporarily require the holders of net short positions in shares traded on an EU regulated market to notify the relevant national competent authority if the position reaches or exceeds 0.1% of the issued share
On 17 September 2020, the European Central Bank (ECB) announced that euro area banks under its direct supervision may exclude certain central bank exposures from the leverage ratio. The announcement comes after the Governing Council of the ECB confirmed that there are exceptional circumstances due to the COVID-19 pandemic.
Banks under ECB supervision
On 16 September 2020, the European Commission issued an inception impact assessment concerning proposed amendments to the Regulation on European long-term investment funds (ELTIFs).
The impact assessment notes that the current challenge with the ELTIF regime is that, to date, the initial take-up of ELTIFs by the market has been slow, with only