On 10 December 2024, the Financial Conduct Authority (FCA) published a letter from its chief executive Nikhil Rathi and chair Ashley Alder, responding to HM Treasury’s (HMT) remit letter sent in November 2024.
In its response, the FCA thanks HMT for providing it with clear recommendations for aspects of the Government’s
As 2024 draws to a close, Hong Kong has delivered on its promise by unveiling its draft Stablecoins Bill, a comprehensive framework for regulating fiat-referenced stablecoin issuers in Hong Kong. The bill generally aligns with the consultation conclusions of the stablecoin regime (finalized July 2024) and solidifies the Hong Kong Monetary Authority’s (HKMA
On 9 December 2024, the Financial Conduct Authority (FCA) published a new webpage setting out information on its follow-up work to the super-complaint by the Federation of Small Businesses (FSB) on requiring personal guarantees for business loans.
Background
The FSB submitted a super-complaint to the FCA in December 2023, which centred
On 10 December 2024, the European Supervisory Authorities (ESAs) issued a final report containing guidelines on templates for explanations and opinions, and the standardised test for the classification of crypto-assets, under Article 97(1) of the Regulation in markets in crypto-assets (MiCAR).
The guidelines have been developed in accordance with Article 97(1)
On 10 December 2024, the Financial Stability Board (FSB) issued policy recommendations to enhance the liquidity preparedness of non-bank market participants for margin and collateral calls in centrally and non-centrally cleared derivatives and securities markets (including securities financing such as repo).
The policy recommendations are part of the FSB’s work programme on enhancing
On 9 December 2024, the Financial Conduct Authority (FCA) published a new webpage setting out its priorities under the Consumer Duty for the remainder of 2024/25.
Background
The FCA notes that, while affected stakeholders will largely be aware of these initiatives, it is setting them out in response to industry feedback that it
On 9 December 2024, the Financial Conduct Authority (FCA) updated its perimeter report. The FCA’s perimeter sets out what it does and does not regulate, and the report describes specific issues around it and the action the FCA is taking in response.
Updates reflected in the latest version of the report include:
On 6 December 2024, the European Banking Authority (EBA) issued a final report containing draft regulatory technical standards (RTS) on the method for identifying the main risk driver and determining whether a transaction represents a long or a short position. The draft RTS have been developed according to Article 94(10) of
On 9 December 2024, the European Banking Authority (EBA) issued a consultation paper containing draft regulatory technical standards (RTS) amending Delegated Regulation (EU) No 529/2014 supplementing the Capital Requirements Regulation (CRR) regarding RTS for assessing the materiality of extensions and changes of the Internal Ratings Based (IRB)
On 6 December 2024, the FCA published Consultation Paper 24/26: Quarterly Consultation Paper No 46 (CP24/26).
In CP24/26 the FCA sets out the following miscellaneous amendments to the Handbook: