On 26 February 2024, the Chair of the Financial Stability Board (FSB), Klaas Knot, wrote a letter to the G20 Finance Ministers and Central Bank Governors. The letter was submitted ahead of the G20’s meeting on 28-29 February and highlights key issues and the current challenges to financial stability. The letter outlines a
On 26 February 2024, a draft statutory instrument (SI) – the Financial Services and Markets Act 2023 (Disapplication or Modification of Financial Regulator Rules in Individual Cases) Regulations 2024 – was published on legislation.gov.uk, along with a draft explanatory memorandum.
One of the tools introduced by Financial Services Markets Act 2023 (
On 26 February 2024, the Council of the EU issued a press release stating that it had adopted a proposed Regulation which will make instant payments fully available in euro to consumers and businesses in the EU and in EEA countries. The proposed Regulation amends Regulations (EU) No 260/2012 and (EU) 2021/1230 and Directives 98/26/EC
On 26 February 2024, the Council of the EU issued a press release stating that it had adopted a proposed Directive amending the Alternative Investment Fund Managers Directive and the UCITS Directive as regards delegation arrangements, liquidity risk management, supervisory reporting, the provision of depositary and custody services and loan origination by alternative investment funds.
On 23 February 2024, the UAE was removed from the Financial Action Task Force’s list of “Jurisdictions under Increased Monitoring”, the so-called “grey list”.
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On 23 February 2024, the Payment Systems Regulator (PSR) published a letter providing details of how it will assess Pay.UK’s proposals for monitoring compliance with the Faster Payment System (FPS) reimbursement rules to determine whether to approve them.
Background
In Policy Statement PS23/3, the PSR set out its view that Pay.UK
On 22 February 2024, in a joint vote MEPs and EU ambassadors chose Frankfurt as the seat of the EU Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA). Nine candidates in total applied but in the vote, Frankfurt received a majority of validly cast votes on the first round of
On 22 February 2024, the Council of the EU published an ‘I/A’ item note concerning the draft Regulation amending Regulations (EU) No260/2012 and (EU) 2021/1230, and Directives 98/26/EC and (EU) 2015/2366, as regards instant credit transfers in euro. The note mentions that on 7 February 2024 the European Parliament adopted its position at first reading