October 2022

On 26 October 2022, there was published in the Official Journal of the European Union (OJ), Commission Delegated Regulation (EU) 2022/2060 of 14 June 2022 supplementing Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to regulatory technical standards specifying the criteria for assessing the modellability of…

On 25 October 2022, the FCA published a letter addressed to the Chairs of the Industry and Regulators and Economic Affairs Committees regarding liability-driven investment funds (LDI funds), responding to a letter dated 14 October 2022 which had asked the FCA for more information on its work in this area.

The FCA letter…

On 27 October 2022, the European Banking Authority (EBA) published the 2023 European Resolution Examination Programme (EREP) for resolution authorities. The EREP is an EBA programme aimed at fostering convergence of resolution practices in the EU, with the first EREP having been launched in November 2021.

The EREP focusses the attention…

On 27 October 2022, the European Banking Authority(EBA) published the 2023 European Supervisory Examination Programme (ESEP) for Prudential Supervisors. The ESEP is part of an annual cycle and contributes to enhancing supervisory convergence in the EU by providing common directions and focus areas for supervisors, which helps them shape their prudential…

On 27 October 2022, there was published in the Official Journal of the European Union, Corrigendum to Commission Delegated Regulation (EU) 2022/1299 of 24 March 2022 supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to regulatory technical standards specifying the content of position management controls by trading venues.

On 27 October 2022, the European Securities and Markets Authority (ESMA) announced that it is changing its Union Strategic Supervisory Priorities (USSPs) to include ESG disclosures alongside market data quality. According to ESMA, this represents an important step in the implementation of its strategy, which gives a prominent role to sustainable…

On 26 October 2022, the European Commission adopted a legislative proposal to make instant payments in euro available to all citizens and businesses holding a bank account in the EU and EEA countries. The proposal aims to ensure that instant payments in euro are affordable, secure, and processed without hindrance across the EU.

The proposal…

On 21 October 2022, the FCA published LIBOR Notice: Article 21(3) Benchmarks Regulation – Notice of first decision.

The notice sets forth that the FCA has decided to compel ICE Benchmark Administration Limited to continue publishing 1- month sterling, and 6- month sterling LIBOR.

The compulsion period shall be for 3 months starting immediately after…

On 26 October 2022, the Financial Action Task Force (FATF) launched a public consultation on its guidance on beneficial ownership.

At the March 2022 Plenary, the FATF adopted amendments to Recommendation 24, and agreed to immediately start the work to update guidance on beneficial ownership with a view to help support the implementation…