On 29 August 2024, the Bank of England announced that the Prudential Regulation Authority (PRA) would publish its second and last set of near-final Basel 3.1 rules on 12 September 2024. The PRA will also publish a consultation paper covering the capital-related aspects of its Strong and Simple regime for smaller firms on
We have updated our briefing note on ESMA guidelines on funds’ names using ESG or sustainability-related terms.
The updated briefing note is here.
The British Steel Pension Scheme (BSPS) saga continues to generate headlines with the redress scheme still in progress, enforcement action ongoing against advisers and complaints against the Financial Conduct Authority (FCA) currently under review. Most recently, as set out in more detail below:
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On 22 August 2024, the Financial Conduct Authority (FCA) updated its webpage on the Overseas Funds Regime (OFR).
The updated webpage confirms that the OFR gateway will be opened to new schemes (not currently in the Temporary Marketing Permissions Regime (TMPR)) on 30 September 2024, while landing slots for
On 22 August 2024, the Dutch Central Bank (De Nederlandsche Bank, DNB) published guidelines on the information register required under the EU’s Digital Operational Resilience Act (Regulation (EU) 2022/2554, DORA). According to DORA, financial entities must maintain a register of all contractual agreements with ICT third-party service providers. This register is essential
On 21 August 2024, the European Securities and Markets Authority (ESMA) announced that it had published the translations in all official EU languages of its guidelines on funds’ names using ESG or sustainability-related terms.
Following the publication of the translations:
On 19 August 2024, the Financial Conduct Authority (FCA) updated its webpage on the sustainability disclosure requirements (SDR) and investment labelling regime, to include a new section on downloadable labels.
The new section is intended for distributors who are subject to the new requirements in ESG 4.1.16R to 4.1.19R, which were introduced into
This is the third article in our series breaking down the steps that organisations will need to take to put in place “reasonable procedures” to prevent fraud. Our previous posts, focusing on how to conduct effective fraud risk assessments and enhance polices and procedures, can be found here and here.
The new UK failure
In our latest Global Regulation Tomorrow Plus podcast, Jonathan Herbst, Hannah Meakin and Anita Edwards discuss PRA Consultation Paper 11/24, which sets out proposals updating the regulator’s approach to international banks.
Listen to the episode here.