On 12 April 2022, the European Commission launched a targeted public consultation intended to evaluate the Regulation on money market funds (MMF Regulation). The objective of the consultation is to seek feedback on the functioning of the regulatory framework and to collect data, in particular economic data, on the use of MMFs. The deadline for
On 12 April 2022, the European Banking Authority (EBA) published final draft regulatory technical standards (RTS) on the risk retention requirements for securitisations. The draft RTS have been developed in accordance with Article 6(7) of the Securitisation Regulation (as amended), which mandates the development of RTS further specifying risk retention requirements.
A substantial part of
On 13 April 2022, the Bank of England and the FCA provided a joint communication updating firms on their joint programme to transform data collection from the UK financial sector. Among other things the communication notes that the phase one ‘discovery and design’ stage ended at the end of March 2022 and recommendations are expected
On 13 April 2022, there was published in the Official Journal of the EU, a Corrigendum to Commission Delegated Regulation 2021/2268 of 6 September 2021 amending the regulatory technical standards laid down in Commission Delegated Regulation 2017/653 as regards the underpinning methodology and presentation of performance scenarios, the presentation of costs and the methodology for
On 6 April 2022, the Dutch Central Bank (De Nederlandsche Bank, DNB) published a news item about the result of its assessment on the identification, measurement and management of climate-related and environmental risk at small and medium-sized Dutch banks.
In November 2020, the European Central Bank (ECB) published the Guide
On 6 April 2022, the Dutch Central Bank (De Nederlandsche Bank, DNB) published two news items about the management of outsourcing risks by insurers and pension funds. In 2020 and 2021, DNB reviewed the way in which insurers and pension funds manage outsourcing risks. DNB concludes that service providers to whom insurers
Last year (see update ) the UK Government consulted upon a series of proposed amendments to insolvency arrangements for insurance companies. The proposed amendments included clarifications and enhancements to the court’s powers under section 377 of the Financial Services and Markets Act 2000 to order a reduction of the value of an insurer’s contracts
On 11 April 2022, the FCA published Thematic Review 22/1 ‘Observations on wind-down planning: liquidity, triggers & intragroup dependencies’ (TR22/1).
The FCA’s observations in TR22/1 may be relevant to all firms, regardless of the broader economic environment. It is based on a piece of thematic work the FCA recently completed which focused on wind-down planning
On 8 April 2022, the European Securities and Markets Authority (ESMA) made available additional results of the annual transparency calculations for equity and equity-like instruments. The ESMA previously communicated these calculations on 1 March and supplemented them on 31 March.
Calculations include the:
On 8 April 2022, the European Commission (the Commission) launched an EU Digital Finance Platform that is intended to bring together industry and European public authorities in a joint effort to continue building the Single Market in digital finance. The Platform provides for a Digital Finance Observatory including, among other functionalities, a European Fintech Map