Financial Regulation Weekly Bulletin - 06 August 2020

Click on the headings below to access each section:

General

• COVID-19 - FCA updates statement on firms’ handling of complaints
• COVID-19 - FCA consults on guidance on cancellations and refunds
• FCA Consultation Paper CP20/16 - Debt Advice Levy Rates for 2020/21: Additional funding

Brexit

• UK PRIIPs Regulation - HM Treasury publishes Policy Statement on amendments

Banking and Finance

• Operational risk and resilience - Basel Committee consults on new and updated Principles
• Guidelines on internal governance under CRD IV - EBA consults on proposed revisions
• CRD IV/MiFID II - EBA and ESMA launch consultation to revise joint Guidelines on the assessment of the suitability of members of the management body and key function holders
• MREL and TLAC - EBA publishes final draft ITS on disclosure and reporting requirements
• Draft Debt Respite Scheme (Breathing Space Moratorium and Mental Health Crisis Moratorium) (England and Wales) Regulations 2020 - House of Lords Secondary Legislation Scrutiny Committee publishes report
• Financial Stability Report, Financial Policy Summary and record of the recent Financial Policy Committee meetings - published by the Bank of England
• PRA Consultation Paper CP12/20: Capital Requirements Directive V
• PRA Policy Statement PS19/20 - Financial Services Compensation Scheme: Temporary High Balances Coverage Extension
• COVID-19 - FCA publishes call for input on ongoing support for mortgage and consumer credit customers
• FCA Consultation Paper CP20/14: Updating the Dual-regulated firms Remuneration Code to reflect CRD V
• High-cost credit - FCA publishes findings of multi-firm review of relending and additional borrowing practices
• Innovation and competition in real-time payments - PSR publishes statement
• APP fraud and scams - PSR publishes statement on improving the reimbursement of victims
• Standards of Lending Practice for business customers - LSB publishes update and announces the FCA’s continued recognition
• Retail Banking Market Investigation Order 2017 - CMA revokes Directions

Securities and Markets

• LIBOR transition: The critical tasks ahead of us in the second half of 2020 - speech by Edwin Schooling Latter, Director of Markets and Wholesale Policy at the FCA
• IBOR Fallback Protocol - ISDA publishes letters on adherence to the Protocol

Asset Management

• FCA Consultation Paper CP20/15: Liquidity mismatch in authorised open-ended property funds

Insurance                                                        

• Solvency II - Implementing Regulation on the calculation of technical provisions and basic own funds for Q3 2020 published in the Official Journal
• Solvency II Single Rulebook - launched by EIOPA
• COVID-19 - FCA publishes update on its High Court BI insurance test case
• COVID-19 - FCA publishes statement on non-damage BI insurance settlements and deductions
• Civil Liability Act 2018 - FCA publishes statement on data provision

Financial Crime

• AML and CTF supervision report 2018/19 - published by HM Treasury

Enforcement

• Financial Solutions (Euro) Ltd v The Financial Conduct Authority, [2020] UKUT 0243 (TCC)
• Case C-883/19 HSBC Holdings plc and Others v European Commission, Order of the President of the Court