On 27 February 2023, the PRA published Consultation Paper 4/23 ‘The Strong and Simple Framework: Liquidity and Disclosure requirements for Simpler-regime Firms’ (CP4/23).
Introduction
As set out in Consultation Paper 5/22 ‘The Strong and Simple Framework: a definition of a Simpler-regime Firm’ (CP4/23) and Discussion Paper 1/21 ‘A strong and
On 27 February 2023, the PRA published Consultation Paper 5/23 ‘Remuneration: Enhancing proportionality for small firms’ (CP5/23).
Introduction
CP5/23 sets out the PRA’s proposals to enhance the proportionality of its remuneration requirements which apply to small Capital Requirements Regulation (CRR) firms and small third country CRR firms.
The PRA’s current approach
On 27 February 2023, the FCA published its initial observations from the first part of a multi-firm review on firms’ progress in implementing the internal capital adequacy and risk assessment (ICARA) process and reporting requirements under the Investment Firms Prudential Regime (IFPR).
The IFPR aims to streamline and simplify the prudential
On 24 February 2023, the FCA published Handbook Notice 107.
The Handbook Notice discusses the following instruments, approved by the FCA board on 23 February 2023, which make changes to the FCA Handbook and other FCA materials:
On 27 February 2023, the European Banking Authority (EBA) issued a no-action letter stating that Member State competent authorities should not prioritise any supervisory or enforcement action in relation to the new banking book – trading book boundary provisions.
On 24 February 2023, there was published in the Official Journal of the European Union (OJ) Commission Delegated Regulation (EU) 2023/410 of 19 December 2022 amending Delegated Regulation (EU) 2016/1675 as regards adding the Democratic Republic of the Congo, Gibraltar, Mozambique, Tanzania and the United Arab Emirates (UAE) to Table 1
On 24 February 2023, the Financial Action Task Force(FATF) published the outcomes of its Plenary on 22-24 February 2023.
On 24 February 2023, the second Plenary of the FATF under the Presidency of T. Raja Kumar of Singapore concluded. Delegates from over 200 jurisdictions of the global network participated in these discussions at
On 24 February 2023, the Bank of England (BoE) and the FCA jointly published Policy Statement 23/2 Changes to reporting requirements, procedures for data quality and registration of Trade Repositories under UK EMIR – feedback on CP21/31 and final rules and guidance (PS23/2).
Previous consultation
In November 2021, the FCA and
On 23 February 2023, the Financial Stability Board (FSB) published a report on the G20 Roadmap for enhancing cross-border payments (the Roadmap).
In October 2022, the FSB published a prioritisation plan and engagement model for taking the Roadmap forward. The plan showed that the Roadmap had reached an inflection point and needed
On 23 February 2023, there was published in the Official Journal of the European Union (OJ) Decision of the EEA Joint Committee No 43/2020 of 20 March 2020 amending Annex IX (Financial Services) to the EEA Agreement [2023 /357]. This decision inserts into Annex IX Commission Implementing Decision (EU) 2019/2211 of 19 December