On 26 March 2021, the Joint Committee of the European Supervisory Authorities (ESAs) published Q&As relating to the Securitisation Regulation. The Q&As contain answers to questions that fall outside the exclusive competence of any of the ESAs.
On the same date the ESAs published a joint opinion on the jurisdictional scope of the
On 26 March 2021, the Bank of England (BoE) published the Financial Policy Summary and Record of the Financial Policy Committee (FPC) Meeting on 11 March 2021.
Among other things the summary notes:
On 26 March 2021, the European Securities and Markets Authority (ESMA) issued a consultation paper on potential reforms of the EU Money Market Funds Regulation (MMFR).
The consultation paper:
On 1 July 2020, the Prudential Regulation Authority (PRA) published a “Dear CEO letter”, which stated that firms (i.e. UK-incorporated entities) need to have fully embedded their approaches to managing climate related financial risks by the end of 2021.
The end of 2021 deadline represents more than two and a half years since
On 24 March 2021, HM Treasury sent a letter to the Prudential Regulation Committee (PRC) discharging its duty under the Bank of England Act 1998 to make, at least once in each Parliament, recommendations to the PRC about aspects of the economic policy of the government to which the PRC should have regard
On 25 March 2021, there was published by the Government a draft of the Capital Requirements Regulation (Amendment) (EU Exit) Regulations 2021.
When finalised the draft Regulations extend the dates of the provision exempting UK commodities dealers from specific prudential requirements until the Investment Firm Prudential Regime (IFPR) applies to them on
On 24 March 2021, HM Treasury published an updated advisory notice concerning money laundering and terrorist financing controls in higher risk jurisdictions.
The advisory notice notes that Regulation 33(3) of the Money Laundering and Terrorist Financing (Amendment) Regulations 2019 provides that a high-risk third country means a country which has been identified by the European
On 24 March 2021, the European Commission adopted a Delegated Regulation amending Delegated Regulations (EU) No 1003/2013 and (EU) 2019/360 as regards the annual supervisory fees charged by the European Securities and Markets Authority to trade repositories for 2021.
Article 1 of the Delegated Regulation establishes the annual supervisory fee for 2021 to be paid
On 25 March 2021, the FCA published the findings from its multi-firm review where it considered mortgage and consumer credit firms’ implementation of the September 2020 Tailored Support Guidance (TSG) covering mortgages, consumer credit and overdrafts and the operational readiness of firms to support customers in financial difficulty.
The key findings from the
On 25 March 2021, the Working Group on Sterling Risk-Free Reference Rates (Working Group) published the minutes from its virtual meeting held on 23 February 2021.
Key points in the minutes include: