15 Jul 2022

Financial Regulation Weekly Bulletin - 14 July 2022

Includes developments in relation to: cryptoassets; temporary permissions regime; SME collections and recoveries review; stablecoin arrangements; Solvency II Review; and ISPVs

Click on the headings below to access each section:

General

  • Cryptoasset activities - FSB publishes statement on international regulation and supervision
  • Climate-related financial risks - FSB publishes progress report on roadmap
  • Cryptoassets - Treasury Committee launches inquiry
  • FCA Chair and Board members - Appointed by HM Treasury
  • Climate change risks - FPC publishes speech
  • Crypto winter - Bank of England publishes speech
  • Future of UK regulation - FCA publishes speech
  • Inclusion measurement guide - FSSC publishes update

Beyond Brexit

  • Temporary permissions regime - FCA updates webpage on rules

Banking and Finance

  • Interlinking payment systems and application programming interfaces - CPMI publishes report
  • 2021 bank resolvability assessment - published by SRB
  • Economy-wide climate stress test - ECB publishes results
  • Capital and Liquidity Buffers - PRA publishes speech
  • SME collections and recoveries review - FCA publishes multi-firm review
  • ABLV Bank AS v Single Resolution Board (SRB) EUECJ T-280/18

Securities and Markets

  • Operational resilience during COVID-19 - IOSCO publishes Final Report (FR06/22)
  • Stablecoin arrangements - CPMI and IOSCO publish joint guidance on application of the Principles for Financial Market Infrastructures
  • Russian invasion of Ukraine - ESMA publishes statement on prospectus supervision
  • EMIR - ESMA publishes statement on third country CCP recognition decisions
  • Benchmarks Regulation - ESMA publishes consultation paper on RTS on form and content of application for recognition
  • EMIR and MiFIR - ESMA publishes consultation paper on RTS on the CO and DTO
  • CSDR - ESMA publishes consultation paper on amendment to cash penalty process for cleared transactions
  • UK EMIR - PRA and FCA publish joint consultation paper on margin requirements for non-centrally cleared derivatives

Insurance

  • Differential pricing practices - EIOPA publishes consultation paper
  • Draft Pensions Dashboards Regulations 2022 - DWP publishes government response to consultation
  • Solvency II Review - PRA publishes speech
  • ISPVs - PRA publishes Consultation Paper (CP10/22) on updates to authorisation and supervision

Financial Crime

  • Using AI to fight financial crime - ECB publishes speech
  • The Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) (No. 2) Regulations 2022 - Statutory instrument and explanatory memorandum published
  • Russian invasion of Ukraine - NECC publishes red alert on financial sanctions evasion
  • Russian invasion of Ukraine - Treasury Committee publishes FCA letter on sanctions

Enforcement

  • Vladimir Consulting Limited v The Financial Conduct Authority UKUT 168 (TCC)
Contact Information
Selmin Hakki
Senior PSL at Slaughter and May