On 29 November 2022, the PRA published Policy Statement 9/22: Amendments to the PRA’s approach to identifying other systemically important institutions (PS9/22).
The PRA is required to identify and publish a list of other systemically important institutions (O-SIIs) under Article 32 of the Capital Requirements (Capital Buffers and Macro-prudential Measures) Regulations
On 29 November 2022, the PRA announced that, in line with previous announcements, the other systemically important institutions buffer rate will be maintained at 2019 levels.
On 29 November 2022, the FCA published Consultation Paper 22/23 ‘Regulatory fees and levies: policy proposals for 2023/24’ (CP22/23). In CP22/23 the FCA sets out its proposed policy changes to the way in which it will raise FCA fees from 2023/24.
Each chapter of CP22/23 covers a self-contained area of policy:
On 29 November 2022, there was published in the Official Journal of the European Union (OJ) Commission Delegated Regulation (EU) 2022/2328 of 16 August 2022 supplementing the Capital Requirements Regulation (CRR) with regard to regulatory technical standards (RTS) specifying exotic underlyings and the instruments bearing residual risks for the
Institutional investors collaborate with each other when communicating with investee companies’ management regarding, for example, ESG matters. Such shareholder collaboration leads to challenges in multiple legal areas. Minimising such legal risk is key.
NRF’s Shareholder Collaboration Tool allows Institutional investors to confidently collaborate, while reducing the burden on legal teams to manage the associated risks.
On 25 November 2022, the Bank of England (BoE) published a Policy Statement on fees for financial market infrastructure supervision 2022/23.
The Policy Statement confirms the following:
On 28 November 2022, the Prudential Regulation Authority (PRA) published Policy Statement 10/22: Depositor Protection (PS10/22). In PS10/22 the PRA sets out final rules and provides feedback to its earlier consultation on depositor protection (Consultation Paper 9/22 (CP9/22)).
Earlier consultation
In CP9/22, the PRA proposed to delete:
On 25 November 2022, the European Securities and Markets Authority (ESMA) published a report on administrative sanctions imposed under the Benchmarks Regulation in 2021.
This is the first annual sanctions report pursuant to the Benchmarks Regulation published by ESMA, as this is the first time a Member State national competent authority
On 28 November 2022, there was published in the Official Journal of the European Union(OJ) Commission Delegated Regulation (EU) 2022/2310 of 18 October 2022 amending the regulatory technical standards laid down in Delegated Regulation (EU) No 149/2013 as regards the value of the clearing threshold for positions held in over-the-counter (OTC)
On 28 November 2022, there was published in the Official Journal of the European Union (OJ), Commission Delegated Regulation (EU) 2022/2311 of 21 October 2022, amending the regulatory technical standards laid down in Delegated Regulation (EU) No 153/2013 as regards temporary emergency measures on collateral requirements.
Article 1 modifies Articles 39 and 62