On 27 January 2021, the FCA published a new webpage reminding firms of the extended financial information timelines that it and the Financial Reporting Council (FRC) had put in place last year. These measures include allowing listed companies an additional two months to publish their audited annual financial reports. The FCA and the
On 27 January 2021, there was published in the Official Journal of the EU, Commission Delegated Regulation (EU) 2021/70 of 23 October 2020 amending Delegated Regulation (EU) 2018/1229 concerning the regulatory technical standards on settlement discipline, as regards its entry into force. The Commission Delegated Regulation amends the text of Article 42 of Delegated Regulation
On 27 January 2021, the International Organisation of Securities Commissions (IOSCO) issued a report, Complaint Handling and Redress System for Retail Investors, which provides a comparative analysis of informal complaint handling processes used by financial services providers and regulators, alternative dispute resolution and formal legal complaint handling for investors pursuing claims for
On 26 January 2021, the Government issued a call for input on its review of the UK funds regime.
At the 2020 Budget the Government announced that it would carry out a review of the UK funds regime to consider reforms which hold the potential to enhance the UK’s attractiveness as a location for asset
On 26 January 2021, the FCA published Finalised Guidance for firms that provide Pay as You Grow (PAYG) options under the Government’s Bounce Back Loan Scheme (BBLS) so that they understand the regulator’s expectations before they start collecting debts from customers.
Chapter 7 of the FCA’s Consumer Credit sourcebook (CONC
On 27 January 2021, the Council of the EU announced that representatives from Member States had signed the amending agreements to the Treaty on the European Stability Mechanism (ESM) and the Single Resolution Fund (SRF) Intergovernmental Agreement. This signature launches the ratification procedures in the Member States, in accordance with their
On 27 January 2021, the European Commission adopted an equivalence decision determining that the United States Securities and Exchange Commission (SEC) regime for US central counterparties (CCPs) is equivalent to EU rules. The equivalence decision complements the existing equivalence decision for US CCPs regarding the United States Commodity Futures Trading Commission,
Senior management and boards are increasingly acknowledging the threat of financial crime as a critical risk to their business that must be addressed. This has been exacerbated in the last 12 months through the impact of the pandemic as well as rising domestic and international tensions. Norton Rose Fulbright’s financial crime compliance specialists, located in
On 26 January 2021, the European Banking Federation and the United Nations Environment Programme Finance Initiative co-launched a report that assesses how the EU Taxonomy can be applied to core banking products. The report is based on case studies analysing transactions and existing client relationships across a large spectrum of sectors, economic activities and geographical
In order to adapt the existing rule of procedures to take into account changes introduced by EMIR REFIT, the European Commission has adopted a Delegated Regulation that amends Delegated Regulation (EU) No 667/2014 on the rules of procedures for penalties imposed on trade repositories by the European Securities and Markets Authority (ESMA) as