On 14 October 2022, the European Securities and Markets Authority (ESMA) published a final report on emergency measures on collateral requirements.
Previously, the European Commission asked ESMA to consider whether the applicable Level 2 provisions, in particular Commission Delegated Regulation (EU) 153/2013, supplementing the European Market Infrastructure Regulation (EMIR) with regards
On 17 October 2022, the Financial Stability Board (FSB) published a consultative document in which it sets out proposed recommendations to address impediments to achieving greater convergence in cyber incident reporting (CIR) with a view to promoting better practices, while recognising that a one-size-fits-all approach is not feasible or preferable.
The
On 12 October 2022, the Bank of England (the Bank) published a financial policy summary and record of the Financial Policy Committee’s (FPC) meeting on 30 September.
The financial policy summary addresses:
On 12 October 2022, the PRA published Consultation Paper 12/22 ‘Risks from contingent leverage’ (CP12/22).
In CP12/22 the PRA proposes to update its supervisory expectations for firms undertaking an Internal Capital Adequacy Assessment process (ICAAP) in relation to the risks from contingent leverage, and to introduce a new data reporting requirement
On 12 October 2022, the Single Resolution Board (SRB) and the European Central Bank (ECB) reached an ‘in principle’ agreement on the margin for redeeming eligible liabilities under Article 78a(1)(b) of the Capital Requirements Regulation. The new ‘In principle’ agreement is applicable to authorisations granted as of 1 January 2023, including
On 12 October 2022, the European Banking Authority (EBA) issued a press release stating that given the overlap with the Implementing Technical Standards (ITS) on Pillar 3 disclosure it was repealing the:
On 11 October 2022, the European Securities and Markets Authority (ESMA) published the following:
On 12 October 2022, the International Organization of Securities Commissions (IOSCO) published a final report on retail distribution and digitalisation.
IOSCO sees retail distribution and digitalisation as a priority given the recent and rapid developments in online marketing and distribution which are changing the way in which financial firms interact with prospective clients
On 13 October 2022, there was published in the Official Journal of the EU (OJ), Commission Implementing Regulation (EU) 2022/1929 of 31 March 2022 amending the implementing technical standards laid down in Implementing Regulation (EU) 2020/1227 as regards the templates for the provision of information in accordance with the simple, transparent and standardised
On 13 October 2022, the Bank of England (the Bank) and the FCA jointly provided an update on the joint transformation programme which seeks to transform data collection from the UK financial sector. The regulators explain that they are starting phase two of the joint transformation programme which involves new use cases and