On 31 October 2023, the Prudential Regulation Authority (PRA) published Discussion Paper DP3/23 – Securitisation: capital requirements (DP3/23).
DP23/2 is intended to prepare for the PRA’s planned consultation on draft rules to replace firm-facing requirements in Part Three, Title II, Chapter 5 (the ‘Securitisation Chapter’) of the Capital Requirements Regulation –
On 31 October 2023, the FCA published a Dear Remuneration Committee Chair letter, setting out some key areas to consider and to factor into the firm’s remuneration approach.
Key points set out in the letter include:
On 31 October 2023, the FCA announced that it will be partnering with regulators across the world as part of the Monetary Authority of Singapore’s (MAS) Project Guardian, a collaborative initiative with the financial industry that explores fund and asset tokenisation use cases and decentralised finance.
The FCA joins MAS, Singapore’s central bank
On 31 October 2023, the FCA published Market Watch 75.
In this edition of Market Watch, the FCA shares its observations about market soundings since it published Market Watch 51 and 58. It also reminds firms of the arrangements made by the UK Market Abuse Regulation’s market soundings regime, which provides formalised arrangements for
On 31 October 2023, the Payment Systems Regulator (PSR) published a report on authorised push payment (APP) fraud performance.
The report provides a comprehensive set of data on APP scams and covers 95% of payments made via Faster Payments in the UK. It focuses on Faster Payments because it is the
On 31 October 2023, the Financial Action Task Force (FATF) published a public consultation on FATF Risk-Based Guidance to Recommendation 25.
At the February 2023 Plenary, the FATF agreed on enhancements to Recommendation 25 on legal arrangements to bring its requirements broadly in line with those for Recommendation 24 on legal persons
On 31 October 2023, the Bank for International Settlement’s Committee on Payments and Market Infrastructures (CPMI) published a report on considerations for the use of stablecoin arrangements in cross-border payments.
The report highlights a range of considerations and challenges regarding the use of stablecoin arrangements in cross-border payments but does not recommend any
On 30 October 2023, the FCA published Feedback Statement FS23/7: Long-term asset funds (LTAFs) – Financial services compensation scheme (FSCS) coverage feedback statement.
FS23/7 summarises the feedback received to the FCA’s Policy Statement PS23/7 on LTAFs, which was published in June 2023. In PS23/7, the FCA set out new rules
On 30 October 2023, HM Treasury (HMT) published its final proposals for the future financial services regulatory regime for cryptoassets in the UK. These proposals are set out in HMT’s response to its February 2023 consultation and call for evidence (CfE) on the topic, its response to the May 2022 consultation
On 30 October 2023, there was published in the Official Journal of the European Union (OJ) Directive (EU) 2023/2225 of the European Parliament and of the Council of 18 October 2023 on credit agreements for consumers and repealing the Consumer Credit Directive.
The Directive enters into force on the twentieth day following its