On 29 July 2022, the FCA updated its webpage on how to apply for authorisation.
The webpage now contains a new section for the Consumer Duty. The new section makes it clear that, the Consumer Duty’s implementation period ends on 31 July 2023 for new and existing products or services. However, as
On 29 July 2022, the European Securities and Markets Authority (ESMA) published a call for evidence on pre-hedging. The aim is to promote discussion among stakeholders and gather further evidence on the practice of pre-hedging that could help ESMA to develop appropriate guidance.
The call for evidence illustrated the arguments in favour and against
On 29 July 2022, the European Central Bank (ECB) published its response to the European Financial Reporting Advisory Group’s (EFRAG) public consultation on the first set of draft European Sustainability Reporting Standards.
The response provides the following general remarks:
On 28 July 2022, the FCA Listing Authority Advisory Panel (the Panel) published their Annual Report for the period 1 April 2021 – 31 March 2022. The Panel meets formally four times each year and holds four scheduled informal sessions. Over the past year members have also been involved in several ad hoc sub-groups to
On 29 July 2022, The FCA announced that it will regulate pre-paid funeral plans, following legislation passed by parliament. The FCA is authorising 26 providers. Together, these firms hold approximately 1.6 million plans, which make up 87% of the market.
Regulation of the sector will bring higher standards and boost consumer protection. New rules, which
On 29 July 2022, the European Banking Authority (EBA) launched a public consultation on its draft revised Guidelines on deposit guarantee schemes (DGS) contributions. The revised Guidelines are aimed at enhancing the proportionality between the risk of a credit institution and its contributions to the DGS, and at streamlining and simplifying the original Guidelines.
On 29 July 2022, the European Parliament Committee on Economic and Monetary Affairs (ECON) published a Draft Report on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) No 600/2014 as regards enhancing market data transparency, removing obstacles to the emergence of a consolidated tape, optimising the trading
On 29 July 2022, the European Banking Authority (EBA) published its final guidance on the criteria for the exemption of investment firms from liquidity requirements in accordance with Article 43(4) of Regulation (EU) 2019/2033. The guidelines ensure that all competent authorities granting this exemption follow the same harmonised approach, while preserving the IFR general
On 29 July 2022, the Financial Reporting Council (FRC) and Financial Conduct Authority (FCA) published two reports which found that premium listed companies have made significant steps forward in the quality of climate related information provided in their financial reports, but further improvements are needed. The first report provided a review of TCFD-aligned disclosures by
On 28 July 2022, the European Banking Authority (EBA) published a Consultation Paper on Draft Regulatory Technical Standards (RTS) on the homogeneity of the underlying exposures in STS securitisation under Articles 20(14), 24(21) and 26b(13) of Regulation (EU) 2017/2402, as amended by Regulation (EU) 2021/557.
These draft RTS will be amending the Commission Delegated Regulation