Financial Regulation Weekly Bulletin - 25 June 2020

Click on the headings below to access each section:

General

• New Chief Executive of the FCA - HM Treasury appoints Nikhil Rathi
• RegData - FCA announces new regulatory data collection platform
• COVID-19 - FCA updates webpage on delayed activities and regulatory changes

Brexit

• Financial services regulatory reforms - House of Commons publishes written statement outlining the UK’s approach to implementation
• LIBOR transition - HM Treasury proposes amendments to, and FCA publishes statement on, the UK benchmarks framework
• UK SFTR - FCA publishes draft registration and conversion forms

Banking and Finance

• NPL securitisation - Basel Committee proposes technical amendment to prudential treatment
• Consumer Credit Directive - European Commission publishes inception impact assessment
• COVID-19 - European Parliament adopts first reading position on proposed Regulation amending the CRR
• Capital Markets Union - European Parliament publishes draft report
• Macroprudential policy measures - ESRB Decision postponing certain reports published in the Official Journal
• CRR - Delegated Regulation containing revisions to RTS on prudent valuation published in the Official Journal
• CRR - EBA publishes final draft ITS on supervisory reporting requirements
• CRR - EBA publishes final draft ITS on public disclosure requirements
• Financial Services Bill - HM Treasury updates policy statement on prudential standards and FCA publishes Discussion Paper on UK prudential regime for investment firms
• BRRD II - HM Treasury publishes consultation on transposition
• Record of the Financial Policy Committee - published by Bank of England
• Financial Policy Committee - Bank of England publishes letter on its remit and recommendations for 2020/21
• COVID-19 - PRA publishes statement on the implementation of the EBA Guidelines on the reporting and disclosure of exposures subject to COVID-19 measures
• COVID-19 - FCA publishes draft updated temporary guidance for consumer credit customers
• Case C-639/18 KH v Sparkasse Südholstein

Securities and Markets

• Digital Finance Outreach 2020 - speech by Valdis Dombrovskis, Vice President of the European Commission
• EU CCP Regulation - political agreement reached between the European Parliament and Council of the EU
• Taxonomy Regulation - published in the Official Journal
• MMF Regulation - ESMA publishes translated Guidelines
• LIBOR transition - Bank of England confirms it will publish a daily SONIA compounded index
• LIBOR transition - AFME publishes paper on managing conduct and compliance risks associated with client communications
• Algorithmic trading - FMSB consults on draft statement of good practice

Asset Management

• AI and machine learning - IOSCO consults on guidance for supervision
• Cost Transparency Initiative - additional tools and guidance published

Insurance

• Insurance stress testing - EIOPA publishes second Discussion Paper on methodological principles
• FCA Consultation Paper CP20/9: Driving value for money in pensions
• COVID-19 - FCA publishes update on its High Court BI insurance test case

Financial Crime

• 4MLD - Delegated Regulation amending the list of high-risk third countries published in the Official Journal
• AML/CTF regime under MLRs - FCA publishes update on its role as supervisor of cryptoasset businesses