On 18 January 2022, the FCA issued a new webpage regarding the temporary permissions regime (TPR) and the action that the regulator may take in the following scenarios:
On 19 January 2022, the FCA published Consultation Paper 22/2: Strengthening our financial promotion rules for high risk investments, including cryptoassets (CP22/2). The proposals in CP22/2 build on the questions the FCA asked in Discussion Paper 21/1 (DP21/1) on how it could strengthen the financial promotions rules.
The proposals in CP22/2 are a key part
Introduction
On 18 January 2022, HM Treasury set out its response to its July 2020 consultation seeking to bring certain cryptoassets into the scope of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (FPO). The consultation set out a proposed definition for qualifying cryptoassets, to be brought into the scope of the
On 17 January 2022, the European Commission issued a summary report ‘Targeted consultation on taking stock of the framework for supervising European capital markets, banks, insurers and pension funds: supervisory convergence and the single rulebook’. The targeted consultation was issued last year and feeds into the preparation of a report required by the Capital
On 17 January 2022, the European Central Bank (ECB) issued an opinion on a proposal to amend the Capital Requirements Regulation (CRR) with respect to resolution.
The ECB supports the proposed regulation, which ensures better alignment between the provisions of the CRR and the Bank Recovery and Resolution Directive following the entry into force of
On 17 January 2022, the International Organization of Securities Commissions (IOSCO) published a consultation report intended to assist its members in adapting their regulatory and enforcement approaches to meet the challenges posed by recent technological developments and the rapid growth in digitalisation and use of social media which is changing the way financial products are
On 17 January 2022, the Bank of England (BoE) published a new webpage summarising the changes to its ISO 20022 migration approach announced in January 2022, by type of organisation.
Key messages on the webpage include:
On 17 January 2022, the European Banking Authority (EBA) issued a Discussion Paper setting out its preliminary observations on selected payment fraud data under the revised Payment Services Directive (PSD2), as reported by the industry during 2019 and 2020. The EBA sets out in the Discussion Paper its main findings related to three payment instruments:
On 17 January 2022, HM Treasury (HMT) issued a consultation on central counterparties (CCPs) and central securities depositories (CSDs) as part of its Future Regulatory Framework Review (FRFR). Specifically, the consultation follows the commitment in paragraphs 17 and 7.35 of the FRFR consultation that HMT issued in November 2021 where it was stated that in
On 17 January 2022, the European Banking Authority (EBA) issued a press release confirming that the guidelines on the reporting and disclosure of exposures subject to measures applied in response to the COVID-19 crisis adopted on 2 June 2020 continue to apply. Unless instructed otherwise by their relevant Member State competent authorities, credit institutions are