Financial Regulation Weekly Bulletin - 11 February 2021

Click on the headings below to access each section:

General

• COVID-19 – the European Commission publishes statement on the European Parliament’s approval of Recovery and Resilience Facility
• COVID-19 – PRA publishes regulatory reporting statement
• COVID-19 – FCA publishes regulatory reporting update
• Technology change – FCA publishes report on multi-firm review
• COVID-19 – FCA publishes findings from impact survey
• Digital operational resilience – ESMA publishes letter on proposed Regulation

Beyond Brexit

• The international financial system and UK/EU equivalence – speech by Andrew Bailey
• Trade Repositories – EC publishes Delegated Regulation on annual supervisory fees

Banking and Finance

• The international financial system and UK/EU equivalence – speech by Andrew Bailey
• Trade Repositories – EC publishes Delegated Regulation on annual supervisory fees
• Sustainable finance – European Commission publishes consultation summary report
• CRD IV – European Commission adopts Delegated Regulation regarding RTS for identifying G-SIIs
• Single Resolution Board – European Commission adopts Delegated Regulation
• Credit services and purchasers – Council of the EU publishes comparison table of negotiating positions on proposed Directive
• Investment Firms Directive – EBA publishes Consultation Paper on supervisory disclosure
• Productive finance investment – industry working group publishes minutes of first meeting
• Capital internal models - PRA publishes statement on 2021 supervisory benchmarking exercise
• Retail banking supervision – FCA publishes Dear CEO letter on supervision strategy
• New Payments Architecture - PSR publishes Consultation Paper 21/2
• Payment systems – PSR publishes two Consultation Papers
• Walter Hugh Merricks CBE v Mastercard Incorporated and others (1266/7/7/16)

Securities and Markets

• COVID-19 – European Parliament adopts proposed instruments amending MiFID II and Prospectus Regulation
• LIBOR transition – UK Working Group publishes Consultation Paper on successor rate in legacy bonds

Insurance                                               

• Solvency II – PRA speech on capital requirements of UK insurance prudential regime
• Pension Schemes Act 2021 – Royal Assent granted
• UK insurance sector – ABI publishes speech on future opportunities

Enforcement

• Defined benefit pensions - FCA issues proceedings against Estate-Matters Financial Ltd
• COVID-19 – CMA publishes letter to Clydesdale Bank on a breach of the SME Banking Behavioural Undertakings 2002