Financial Regulation Weekly Bulletin - 16 December 2021

General

• Non-bank financial intermediation - FSB publishes 2021 Global Monitoring Report
• Taxonomy Climate Delegated Act - Commission Delegated Regulation (EU) 2021/2178 published in OJ
• Online Safety Bill - House of Lords and House of Commons Joint Committee publishes Report
• Financial promotion exemptions - HM Treasury publishes Consultation Paper
• Strengthening accountability - PRA publishes inventory of senior manager responsibilities
• Plans and budget for 2022/23 - FOS publishes consultation

Beyond Brexit

• The Solvency II (Group Supervision) (Amendment) Regulations 2021
• New trade agreement - UK and Singapore reach agreement in principle on a Digital Economy Agreement
• Retained EU law - UK government makes statement to Parliament
   

Banking and Finance

• Roadmap for Enhancing Cross-Border Payments - FSB publishes Survey
• Bank resolution - FSB publishes Bail-in Execution Practices Paper
• CRR and calculation of risk adjustments - EBA publishes Final Report on RTS
• SEPA Payment Scheme Rulebooks and Rules - EPC publishes updated versions
• The Financial Services and Markets Act 2000 (Consequential Amendments of References to Rules) Regulations 2021
• UK financial stability - Bank of England publishes 2021 Financial Stability Report and 2021 Solvency Stress Test results
• 2022 cyber stress test - PRA publishes statement
• Developing a ‘strong and simple’ prudential framework - PRA publishes Feedback Statement (FS1/21)
• Banking reporting requirements - PRA publishes guidance on changes
• Access to Banking Standard Review - LSB publishes Report on review

Securities and Markets

• Risk free rates - ESMA publishes statement from EUR Risk Free Rates Working Group
• Data reporting service providers’ supervision - ESMA publishes Public Statement on interim approach
• LIBOR transition - ESMA publishes statement on clearing and derivatives trading obligations
• Benchmarks - Critical Benchmarks (References and Administrators’ Liability) Bill receives Royal Assent
• Securitisation Regulation - HM Treasury publishes response to Call for Evidence
• Supervision of FMIs - Bank of England publishes 2021 Annual Report
• Designating investment firms - PRA publishes Policy Statement PS27/21
• LIBOR transition - FCA publishes Feedback Statement, technical Notice and speech
• Digital asset derivatives - ISDA publishes Paper on contractual standards
• De Boinville v IG Index Ltd, [2021] EWHC 3326 (Comm)

Asset Management

• Liquidity requirements for investment firms - EBA publishes two Consultation Papers
• Supervisory review of global equity finance businesses - PRA and FCA publish joint Dear CEO Letter

Insurance

• Conduct of business supervision - EIOPA publishes update to retail risk indicators methodology
• Climate change risk scenarios - EIOPA publishes Consultation Paper
• Digital Transformation Strategy - EIOPA publishes Report

Financial Crime

• MLD4 - EBA publishes Consultation Paper on draft Guidelines
• CRD V - EBA publishes final Guidelines on co-operation and information exchange
• AML/CFT - EBA publishes revised Guidelines
• Money laundering risk in e-payments - Transparency International UK publishes Report

Enforcement

• Anti-money laundering - NatWest fined £265 million
• Conflicts of interest and gifts - FCA publishes Warning Notice Statements for GAM International Management Ltd and Timothy Haywood
• IRHPs redress scheme - FCA publishes Swift Review report and response