Every month we provide the Global Blockchain Business Council’s Post-Trade Distributed Ledger group with a global regulatory FinTech updater, the latest version of which can be found here.
Post Trade Distributed Ledger (PTDL) Group is composed of over 40 prominent market infrastructure stakeholders whose shared vision of the use of distributed ledger technology has
On 5 January 2022, the European Securities and Markets Authority (ESMA) issued a paper ‘Methodology for Mandatory Peer Reviews in relation to CCPs’ authorisation and supervision under EMIR’.
The European Markets Infrastructure Regulation (EMIR), as amended by European Regulation No 2019/2099 (EMIR 2.2) requires ESMA to undertake, at least annually, a peer review analysis
On 14 January 2022, John Berrigan, Director-General for FISMA, sent a letter to the Chairperson of the European Banking Authority (EBA), José Manuel, requesting the EBA to deliver advice regarding the review of Mortgage Credit Directive (MCD).
The letter refers to a report that the European Commission (Commission) published last May in accordance with the
On 13 January 2022, the Indian Minister for Commerce and Industry, Piyush Goyal and UK Secretary of State for International Trade, Anne-Marie Trevelyan published a joint statement stating that the Republic of India and UK have formally launched negotiations for a Free Trade Agreement between the two countries. Both sides have agreed to double bilateral
The House of Lords Industry and Regulators Committee has launched an inquiry into commercial insurance and reinsurance regulation. The Committee will explore the extent to which regulatory policy is well-designed and proportionately applied and the possibilities for optimising policy following Brexit.
Evidence should be submitted by 11 February 2022.
The call for evidence requests
The Prudential Regulation Authority (PRA) has published a ‘Dear CEO’ letter written by Anna Sweeney and Charlotte Gerken, co-Executive Directors for Insurance Supervision at the PRA. The letter sets out the supervisory priorities for life and general insurance firms in 2022. The letter has been sent to all insurers (including third-country branches) supervised
On 12 January 2022, the Financial Ombudsman Service published a letter (dated 17 December 2021) containing its responses to a series of questions it had received from the House of Commons’ Treasury Committee on its Action Plan. Among other things the FOS states that it is on track to end this financial year with no
On 13 January 2022, the Payments System Regulator (PSR) launched a new strategy setting out their key priorities and what they aim to achieve over the next five years.
The four strategic priorities are:
On 13 January 2022, the International Organization of Securities Commissions (IOSCO) issued a consultation report seeking feedback on the lessons learned regarding the operational resilience of trading venues and market intermediaries during the COVID-19 pandemic.
The consultation report concludes that these regulated entities largely proved to be operationally resilient and continued to serve their clients
On 13 January 2022, the European Banking Authority issued final guidelines for institutions and resolution authorities on improving banks’ resolvability.
The guidelines take stock of the best practices developed so far by EU resolution authorities on resolvability topics and set-out requirements to improve resolvability in the areas of operational continuity in resolution, access to financial