On 17 December 2021, the FICC Markets Standards Board published a statement of good practice for trading platform disclosures.
FICC Markets Standards Board – statement of good practice for trading platform disclosures
EBA confirms EU banks’ solid overall liquidity position but warns about low foreign currency liquidity buffers
On 17 December 2021, the European Banking Authority (EBA) published a report on liquidity measures, which monitors and evaluates the liquidity coverage requirements currently in place in the EU. The liquidity coverage ratio (LCR) of EU banks stood at 176% in June 2021, materially above the minimum threshold of 100%. At
EBA final guidelines on cooperation and information exchange between prudential supervisors, AML/CFT supervisors and FIUs
On 16 December 2021, the European Banking Authority published final guidelines setting out how prudential supervisors, anti-money laundering and countering the financing of terrorism (AML/CFT) supervisors and financial intelligence units (FIUs) should cooperate and exchange information in relation to AML/CFT, in line with provisions laid down in the Capital Requirements Directive
EBA guidelines on the characteristics of a risk‐based approach to AML FT supervision
On 16 December 2021, the European Banking Authority (EBA) published updated guidelines on risk-based supervision of credit and financial institutions’ compliance with anti-money laundering and countering the financing of terrorism (AML/CFT) obligations. The guidelines set out the steps supervisors should take to ensure adequate AML/CFT oversight of their sector and support
FCA’s new rules on climate-related disclosures to help investors, clients and consumers
On 17 December 2021, the FCA published two Policy Statements confirming final rules and guidance to promote better climate-related financial disclosures.
Issuers of standard listed shares, or equity shares represented by certificates (global depositary receipts) must include a statement in their annual financial reports setting out whether their disclosures meet the recommendations of the Taskforce
Policy Statement 28/21 ‘Remuneration: Identification of material risk takers’
On 17 December the PRA published Policy Statement 28/21 ‘Remuneration: Identification of material risk takers’ (PS28/21).
In PS28/21 the PRA provides feedback to responses to Consultation Paper 18/21 ‘Remuneration: Identification of material risk takers’. It also contains the PRA’s final policy, as follows:
- Amendments to the Remuneration Part of the PRA Rulebook, in
Critical Benchmarks (References and Administrators’ Liability) Act 2021
On 15 December 2021, the Critical Benchmarks (References and Administrators’ Liability) Bill received Royal Assent becoming the Critical Benchmarks (References and Administrators’ Liability) Act 2021.
Our earlier blog on the Bill can be found here.
The Council of the IFSB has adopted two new standards
On 10 December 2021, the Council of the Islamic Financial Services Board (IFSB) adopted two new standards:
- IFSB-23: Revised Capital Adequacy Standard for Institutions offering Islamic Financial Services (IIFS). IFSB-23 was developed to align the IFSB’s guidance on capital adequacy for the banking sector with the latest updates to global capital standards, particularly those
FSB global monitoring report on non-bank financial intermediation
On 16 December 2021, the Financial Stability Board (FSB) published the Global Monitoring Report on Non-Bank Financial Intermediation 2021. The report presents the results of the FSB’s annual monitoring exercise to assess global trends and risks in non-bank financial intermediation (NBFI). In contrast to the trend over the past decade,
EBA report on a feasibility study of an integrated reporting system under Article 430c CRR
On 16 December 2021, the European Banking Authority (EBA) published its final report on the feasibility study of an integrated reporting system (IRS).
The report puts forward a long-term vision on how the reporting processes could be streamlined and improved for both institutions and competent authorities and how cooperation among the