Financial Regulation Weekly Bulletin - 10 March 2022

Click on the headings below to access each section:

General

• Online Advertising Programme - DCMS launches consultation
• Digital Regulation Cooperation Forum - DCMS publishes letter on role and priorities
• Quarterly Consultation No.35 - FCA publishes consultation paper CP22/4
• Russian invasion of Ukraine - FCA publishes webpage on operational and cyber resilience

Banking and Finance

• BRRD - Commission Implementing Regulation setting out ITS on resolution planning reporting published in OJ
• CRD IV - ECB Decision on the exclusion of staff members from the presumption of having a material impact on risk profile published in OJ
• Scheme of arrangement of loan company - FCA publishes statement and letter on its position
• Supervision of credit unions - FCA publishes portfolio letter

Securities and Markets

• Recovery and resolution of CCPs - FSB, CPMI and IOSCO publish report on financial resources
• ESG benchmark label - European Commission launches study on feasibility, minimum standards and transparency requirements
• Equivalence of Malaysia under EMIR - European Commission consults on draft Commission Implementing Decision
• MiFID II and cross-border activities - ESMA publishes peer review report and issues specific recommendations to CySEC
• MiFIR - European Commission adopts Commission Delegated Regulation on fees relating to ESMA supervised data reporting service providers

Asset Management

• IFD - Delegated Regulation containing ITS on supervisory disclosure published in OJ

Insurance

• Solvency II Review and the IRRD - European Parliament publishes working document
• Third country branches of insurers - PRA publishes direction for modification by consent for risks not located in the UK

Financial Crime

• Transparency and beneficial ownership of legal persons - FATF adopts amendments to Recommendation 24
• Economic Crime (Transparency and Enforcement) Bill - House of Commons publishes amendment paper
• Fraud Act 2006 - House of Lords publishes call for evidence
• Sanctions - OFSI publishes updated Guidance on Russia (Sanctions) (EU Exit) Regulations 2019

Enforcement

• Baker and another v Financial Conduct Authority (Re Ipagoo LLP) [2022] EWCA Civ 302