On 26 November 2024, the Financial Stability Board (FSB) published the 2024 list of global systemically important banks (G-SIBs) and the Basel Committee on Banking Supervision (Basel Committee) published additional information relating to the 2024 G-SIB assessment.
The FSB confirmed that no banks have been removed or added to
On 26 November 2024, the Financial Conduct Authority (FCA) published a press release, blog and roadmap providing an update on its plans for regulating cryptoassets.
Increasing use of cryptoassets
In the press release, the FCA notes that, according to its latest research on consumer attitudes and behaviours towards cryptoassets, ownership is continuing
1. Introduction
Three claims by individuals against motor finance lenders have recently been upheld by the Court of Appeal which decided that they should receive refunds of commission payments that the lenders had made to the car dealers who were acting as intermediaries/ brokers in respect of the finance arrangements (interest was also awarded to
On 25 November 2024, the International Organization of Securities Commissions (IOSCO) published a report on its targeted implementation review of five of its “Principles for the Regulation and Supervision of Commodity Derivatives Markets”.
The five principles selected for review (Principles 9, 12, 14, 15, and 16) aim to address excessive commodity market volatility
On 25 November 2024, the International Organization of Securities Commissions (IOSCO) published its Final Report on Post Trade Risk Reduction Services: Sound Practices for Consideration, reflecting the results of IOSCO’s public consultation on the topic, which was launched on 26 January 2024.
IOSCO notes that it continues to follow the evolution
On 25 November 2024, the Financial Conduct Authority (FCA) launched its first competition to fund research into how regulation can support national growth. The competition will award funding for several research projects that focus on growth, competitiveness and regulation in the UK financial services sector.
Background
In 2023, the FCA was set a
On 22 November 2024, the European Securities and Markets Authority (ESMA) and the European Central Bank (ECB) published responses to the European Commission’s consultation on macroprudential policies for Non-Bank Financial Intermediation (NBFI) (which was published in May 2024 and is the subject of a previous blog).
ESMA response
On 22 November 2024, the Securitisation (Amendment) (No. 2) Regulations 2024 came into force and were published on legislation.gov.uk, along with an explanatory memorandum.
The Regulations extend a temporary arrangement granting preferential prudential treatment for EU-origin simple, transparent and standardised (STS) securitisations. UK investors, where they are subject to prudential regulation, currently access lower
On 22 November 2024, the Packaged Retail and Insurance-based Investment Products (Retail Disclosure) (Amendment) Regulations 2024 came into force and were published on legislation.gov.uk, along with an explanatory memorandum.
The Regulations make transitional amendments in relation to cost disclosure requirements for listed closed-ended funds (more commonly referred to as investment trusts) to two pieces
On 22 November 2024, the Financial Conduct Authority (FCA) published finalised guidance FG24/6: Guidance for firms that enables a risk-based approach to payments.
Background
The Payment Services (Amendment) Regulations 2024, which came into force on 30 October 2024, amended the Payment Services Regulations 2017 to extend the amount of time that a