On 28 July 2023, the European Commission published an interim report on climate resilience dialogue.
The Climate Resilience Dialogue, set up by the European Commission, aims to reduce the climate protection gap through facilitating exchanges between insurers, reinsurers, public authorities, and other stakeholders, such as real-estate developers and infrastructure operators, as set out in the
On the 28 July 2023, the European Parliament published a report on the proposal for a directive of the European Parliament and of the Council amending Directive 2009/138/EC as regards the proportionality, quality of supervision, reporting, long-term guarantee measures, macro-prudential tools, sustainability risks, group and cross-border supervision.
The Directive shall enter into force on the
On 28 July 2023, the European Securities and Markets Authority (ESMA) and the European Banking Authority (EBA) published a report on the implementation of the Shareholder Rights Directive 2 (SRD 2) provisions on proxy advisors and the investment chain.
In this report, the EBA analyses the implementation of certain
On 28 July 2023, the Financial Stability Board (FSB) published its final reflections on the LIBOR transition.
The end of June 2023 marked the end of the remaining USD LIBOR panel. Only three of the US dollar LIBOR settings will continue in a synthetic form after June 2023 and are intended to cease
On 27 July 2023, the Financial Ombudsman Service (the FOS) published the independent assessor’s annual report for 2022-2023.
During the financial year 2022-2023, the FOS received 3,717 service complaints, of which the independent assessor investigated 649. In the report, the independent assessor highlights that, in most cases, the FOS is responding to
On 27 July 2023, the Financial Stability Board (FSB) published a statement following survey feedback on the continuity of access to financial market infrastructure (FMI) services for firms in resolution.
In October 2022, the FSB Resolution Steering Group surveyed banks, FMI intermediaries and FMIs about their experiences with the FSB framework.
On 27 July 2023, the FCA published a new webpage: Changes to application forms accessed via connect.
The webpage provides that, the FCA is reviewing and updating authorisations application forms to:
The first
On 27 July 2023, the FCA, Bank of England (BoE) and Prudential Regulation Authority (PRA) published a joint Policy Statement, PS23/12, PS10/23: Complaints against the Regulators.
Background
The FCA, PRA and BoE (the Regulators) have a joint Complaints Scheme (the Scheme) under the Financial Services Act 2012. The
On 27 July 2023, the Prudential Regulation Authority (PRA) published a consultation paper, CP15/23: Securitisation: General requirements.
The Securitisation Regulation is retained EU legislation that aims to address behavioural risks in securitisation markets. Following the enactment of the Financial Services and Markets Act 2023, HM Treasury plans that most firm-facing provisions of
On 27 July 2023, the FCA updated its webpage on Securitisation in relation to an upcoming consultation.
The webpage has been updated to include the following text:
‘On 7 August 2023, we’ll publish a consultation paper (CP) setting out our proposed rules to replace the firm-facing provisions from the UK Securitisation Regulation (