Here is a short summary of some of the key regulatory milestones in May.
International regulatory bodies
28 May 2021: Deadline for comments on FMSB draft standard on use of Term SONIA reference rates.
4 May 2021: Entry into force of Delegated Regulation on specialised lending exposures under CRR (applies from 14 April 2022).
6 May 2021: Entry into force of updated Implementing Regulation on ITS on MREL reporting by resolution authorities.
11 May 2021: Entry into force of Implementing Regulation on ITS on public disclosures under CRR (applies from 28 June 2021).
7 May 2021: Deadline for responses to European Commission consultations on review of FCD and SFD.
11 May 2021: Deadline for responses to EBA consultation on draft ITS on supervisory disclosure under IFD.
12 May 2021: Deadline for comments on ESAs consultation on draft RTS on content and presentation of taxonomy-related sustainability disclosures under SFDR.
17 May 2021: Deadline for comments on EBA consultation on guidance to assess breaches of the large exposure limits under CRR.
18 May 2021: Deadline for comments on European Commission consultation on designating replacement rate for CHF LIBOR.
18 May 2021: Deadline for comments on the European Commission’s roadmap on its strategy for retail investors.
20 May 2021: Deadline for comments on European Commission public consultation on review of crisis management and deposit insurance framework.
26 May 2021: Deadline for comments on European Commission consultation on draft Implementing Regulation extending transition period relating to treatment of exposures to third-country CCPs.
4 May 2021: Debt Respite Scheme (Breathing Space Moratorium and Mental Health Crisis Moratorium) (England and Wales) Regulations come into force.
4 May 2021: Consumer Credit (Debt Respite Moratorium) Instrument 2021 (FCA 2021/4) comes into force (see PS21/1).
19 May 2021: Recognised Auction Platforms and Greenhouse Gas Emissions Trading Scheme Auctioning (Amendment) Regulations 2021 come into force.
3 May 2021: Deadline for comments on PRA consultation on implementation of the Basel Standards.
19 May 2021: Deadline for responses to PRA and FCA consultation on amending BTS on margin requirements for non-centrally cleared derivatives under UK EMIR.
26 May 2021: Deadline for responses to PRA consultation on correction to definition of “higher paid material risk taker”.
28 May 2021: Deadline for HM Treasury consultation on expanded resolution regime for CCPs.
28 May 2021: Deadline for responses to second FCA consultation on Investment Firms Prudential Regime.
12 May 2021: IFR / IFD: the new prudential regime for MiFID II investment firms.