12 Aug 2022

Financial Regulation Weekly Bulletin - 11 August 2022

Includes developments in relation to: change in control and cryptoasset firms; net-zero transition; ‘strong and simple; prudential framework; RAO; and disclosure of inside information

Click on the headings below to access each section:

General

  • Occasional consultation paper CP3/22 - PRA publishes policy statement (PS7/22)
  • Change in control and cryptoasset firms - FCA publishes notification forms
  • Net-zero transition - GFANZ publishes guidance on portfolio management for consultation

Banking and Finance

  • CRR - EBA publishes consultation paper on draft RTS on the determination by originator institutions of the exposure value of SES in securitisations
  • ‘Strong and simple’ prudential framework - House of Commons Treasury Sub-Committee publishes letter
  • Financial Services and Markets Bill - House of Commons Treasury Committee publishes letter from Bank of England
  • Algebris (UK) Ltd and another v Single Resolution Board (Case T 570/17) [2022]

Securities and Markets

  • CCP Recovery and Resolution - European Commission publishes report on treatment of CCP equity in the write-down and conversion tool
  • EMIR - ESMA publishes Memorandum of Understanding with South African authorities
  • Digital securities - UK Jurisdiction Taskforce publishes legal statement for consultation

Asset Management

  • UCITS and AIFM Directives - ECB publishes opinion on proposed amendments
  • Supervision of alternative investment funds - FCA publishes portfolio letter

Insurance

  • Solvency II - Commission Implementing Regulation on technical information for calculating technical provisions and basic own funds for Q3 2022 reporting published in OJ
  • RAO - FMLC publishes report on “similar contracts of guarantee” in definition of a “contract of insurance”

Enforcement

  • Disclosure of inside information - FCA publishes final notice
  • Carrying on regulated activities without authorisation - FCA publishes statement
Contact Information
Selmin Hakki
Senior PSL at Slaughter and May