On 26 May 2021, the Single Resolution Board updated its ‘Minimum Requirements for Own Funds and Eligible Liabilities (MREL) Policy under the EU Banking Package’. The updated policy includes:
On 26 May 2021, the European Securities and Markets Authority (ESMA) issued a consultation paper on disclosure requirements for initial reviews and preliminary ratings. The purpose of the consultation paper is to propose guidance that will address existing inconsistencies and reduce the risks that are posed by rating shopping to the extent it
Another episode of RT Plus is out now to download and stream.
In this episode we hear from Peter Snowdon, Imogen Garner, John Coley and Matthew Gregory as they discuss the recent speech given by FCA Chairman, Charles Randell, on outcomes based regulation.
RT Plus and the monthly podcast, the Regulation Tomorrow Podcast, are available
A new episode of RT Plus is out now to stream and download. In this latest episode, Peter Snowdon and Matthew Gregory speak to Simon Lovegrove about the new Consumer Duty in financial services that the FCA has proposed in CP21/13.
To listen to this episode of RT Plus, please click here. In order
On 25 May 2021, the European Securities and Markets Authority (ESMA) launched a call for evidence on digital finance. This call for evidence follows a request for technical advice to the European Supervisory Authorities (ESAs) that was issued by the European Commission (Commission) in February 2021, and which
On 24 May 2021, HM Treasury and the US Department of Treasury published a joint statement following the latest US – UK Financial Regulatory Working Group (Working Group) meeting that took place on 20 May 2021.
The Working Group was formed in 2018 to deepen bilateral regulatory cooperation with a view to the
On 25 May 2021, the PRA issued a statement providing an update on its approach to updating the applicable requirements on the identification of material risk takers (MRTs), and its position concerning applications for the exclusion of MRTs in the current performance year. The statement should be read in conjunction with chapter 3
On 24 May 2021, the FCA updated its consumer credit information sheets in accordance with the Consumer Credit Act 1974 (section 86A). The FCA has specified that these will come into force on 25 October 2021 in accordance with section 86A(7) of the Act. The FCA has changed the information sheets to provide more targeted
On 25 May 2021, there was published on legislation.gov.uk The Regulation of Investigatory Powers (Criminal Conduct Authorisations) (Amendment) Order 2021 together with an explanatory memorandum. The statutory instrument makes consequential amendments to various Orders and Regulations made under the Regulation of Investigatory Powers Act 2000. These amendments are necessary to reflect changes made to the
On 25 May 2021, the Bank of England (BoE) published a speech by Lyndon Nelson (Deputy CEO and Executive Director, Regulatory Operations and Supervisory Risk Specialists) entitled Cyber Risk: 2015 to 2027 and the Penrose steps.
In his speech Lyndon Nelson (LN) states that “addressing cyber risk is to