Financial Regulation Weekly Bulletin - 25 February 2021

Click on the headings below to access each section:

General

• Markets in Cryptoassets – ECB publishes opinion
• Data Collection Transformation Plan – BoE publishes paper
• Higher paid material risk takers – PRA statement on definition
• Vulnerable customers – FCA publishes final guidance on fair treatment of vulnerable customers
• Transformation programme – FCA announces four executive appointments
• Data Collection – PRA and FCA publish joint Dear CEO letter

Beyond Brexit

• Post-Brexit supervisory co-operation – ECB publishes MoU with BoE and FCA
• Approaches to credit risk after the transition period – PRA statement on EBA Guidelines and EU RTS

Banking and Finance

• Crisis management and deposit insurance framework – European Commission launches public consultation
• Cross-border payments – ECB publishes opinion on the proposal for a regulation
• CRR – EBA publishes final draft technical standards on indirect exposures arising from derivatives with an underlying a debt or equity instrument
• IFD – EBA consults on technical standards on supervisory co-operation
• Resolvability Assessment Framework – BoE publishes Dear CEO letter
• SEPA Direct Debit Schemes – EPC publishes guidelines on the appearance of mandates

Securities and Markets

• MiFID II – European Commission outlines next steps for review
• GameStop share trading – ESMA publishes statement on regulatory implications
• MiFIR – ESMA publishes annual report on application of waivers and deferrals for non-equity instruments
• BMR – ESMA consults on methodology to calculate a benchmark in exceptional circumstances
• EMIR – ESMA publishes final report on guidelines for consistency of CCP SREPs
• Crowdfunding – ESMA publishes Q&As
• CCPs – HM Treasury consults on expanded resolution regime
• Derivatives – Working Group publishes paper on ending new use of GBP LIBOR

Insurance                                                       

• IAIS roadmap – IAIS publishes roadmap for 2021-22
• PEPP Regulation – European Commission adopts Delegated Regulations on supervisory reporting and product intervention
• Union-Wide Strategic Supervisory Priorities - EIOPA publishes report

Enforcement

• Breach of PSRs – FCA publishes final notice issued to Premier FX
• CFL Finance Ltd v Laser Trust & another [2021] EWCA Civ 228, 23 February 2021