15 Sep 2023

Financial Regulation Weekly Bulletin - 14 September 2023

Includes developments in relation to: financial promotions; complaints; green taxonomy; leveraged loans and CLOs; Insolvency II; MREL reform; CCD II; and Defined Benefits pension schemes.

Click on the headings below to access each section:



  • Adjusting SME size criteria - European Commission announces initiative

  • Gateway for firms who approve financial promotions - FCA publishes Policy Statement (PS23/13) and new webpage

  • Complaints to the FOS - Data for Q1 2023/24 published



  • Implementation of SFDR - European Commission launches consultation

  • Green financial products and data reporting - GTAG publishes advice


Beyond Brexit

  • International collaboration and modernisation of UK financial services regulation - FCA publishes speech

  • The Central Counterparties (Transitional Provision) (Extension and Amendment) Regulations 2023


Banking and Finance

  • Leveraged loans and CLOs - ISOCO publishes consultation report on good practices

  • MREL reforms - ECON publishes draft report

  • Consumer Credit Directive II - European Parliament votes to adopt new rules

  • Supervisory work in wholesale banking - FCA publishes Dear CEO letter

  • Later-life mortgages - FCA publishes multi-firm review findings



  • Defined Benefit pension scheme consolidation - Work and Pensions Committee publishes letter to PRA

  • Dealing with insurers in financial difficulties - PRA publishes Policy Statement (PS12/23)



  • Pension transfer advice failings - FCA publishes Final Notices


This material is provided for general information only. It does not constitute legal or other professional advice.

Contact Information
Selmin Hakki
PSL Counsel at Slaughter and May