On 28 November 2023, there was published on legislation.gov.uk The Financial Services and Markets Act 2023 (Panel Remuneration and Reports) Regulations 2023.
These Regulations, which come into force on 26 December 2023, are intended to ensure that the Financial Conduct Authority, Prudential Regulation Authority, and the Payment Systems Regulator can remunerate members of certain
On 28 November 2023, the FCA published its latest IFPR newsletter.
At the start of the newsletter the FCA refers to its earlier publication of its observations from the multi-firm review into firms’ progress in implementing the internal capital adequacy and risk assessment (ICARA) process and reporting requirements under the Investment Firms
On 28 November 2023, the European Commission published a Delegated Regulation and an Annex which modifies Article 39 and 62 of Commission Delegated Regulation 153/2013 which supplements the European Markets Infrastructure Regulation with regard to regulatory technical standards on requirements for central counterparties (CCPs). Article 39 is amended to extend the duration during
October was another busy month in the financial services regulatory space. ASIC issued a number of new legislative instruments to continue the relief available under sunsetting class orders, while also removing certain notification obligations under the reportable situations regime. Interestingly, these changes were followed by ASIC’s second publication on insights from the reportable situations regime,
On 28 November 2023, a draft statutory instrument (SI) – the Data Reporting Services Regulations 2023 – was published on legislation.gov.uk, along with an explanatory memorandum. The draft SI, which is part of HM Treasury’s programme to deliver a Smarter Regulatory Framework for financial services, establishes a new legislative framework for the
On 28 November 2023, the FCA published a package of measures setting out its final rules and guidance on Sustainability Disclosure Requirements (SDR) and investment labels. The measures are intended to help consumers navigate the market for sustainable investment products, by improving the trust and transparency of such products and minimising greenwashing.
The
The response to, and the management of, a skilled person review can be challenging, costly and time consuming for firms. In our latest briefing note we set out some key points for firms to consider when dealing with a skilled person review requirement imposed by the FCA or PRA, from the initial stages of negotiating
On 28 November 2023, a draft statutory instrument (SI) – the Public Offers and Admissions to Trading Regulations 2023 – was published on legislation.gov.uk, along with an explanatory memorandum. The draft SI, which is part of HM Treasury’s programme to deliver a Smarter Regulatory Framework for financial services, replaces the Prospectus Regulation
On 28 November 2023, a draft statutory instrument (SI) – the Securitisation Regulations 2023 – was published on legislation.gov.uk, along with an explanatory memorandum. The draft SI, which is part of HM Treasury’s programme to deliver a Smarter Regulatory Framework for financial services, establishes a new legislative framework for the regulation of
On 28 November 2023, the Basel Committee on Banking Supervision (Basel Committee) published a report on the progress that 31 global systemically important banks have made in implementing the Basel Committee’s Principles for effective risk data aggregation and reporting (the Principles). Of the 31 banks assessed, only two banks are fully compliant