Financial Regulation Weekly Bulletin - 27 May 2021

Click on the headings below to access each section:

General

• UK - US Financial Regulatory Working Group – HM Treasury and US Department of the Treasury publish joint statement on the fourth meeting
• Firm feedback survey 2020 – PRA publishes results
• PRA business plan – PRA publishes business plan for 2021/22
• Cyber risk – PRA publishes speech
• COVID-19 – FCA publishes statement on the regulatory treatment of the UK Recovery Loan Scheme
• Complaints data – FOS publishes data for 2020/21
• Cryptoassets – TheCityUK publishes report

Beyond Brexit

• Responsible openness in the insurance sector – PRA publishes speech by PRA Executive Director

Banking and Finance

• Conduct risks in leveraged loans and collateralised loan obligations – IOSCO launches surveys
• European Financial Integration and Stability – Commissioner McGuinness delivers speech at annual joint EC and ECB conference
• Regulation on cross-border payments – European Parliament’s Legal Affairs Committee publishes draft report on legislative proposal
• Mapping climate exposures to risk – EBA publishes results of EU-wide pilot exercise
• CRR – EBA publishes final report and draft regulatory technical standards on own funds and eligible liabilities
• BRRD – EBA publishes report on application of the early intervention framework
• CRD IV – EBA publishes consultation paper on co-operation and information exchange
• SupTech – ECB publishes speech on the importance of supervisory technology
• Digital finance – ESMA publishes call for evidence
• MREL – Single Resolution Board updates minimum requirement for own funds and eligible liabilities policy
• CRD IV – Material risk takers – PRA publishes statement
• Consumer credit – FCA updates consumer information sheets
• Schemes of Arrangement – FCA publishes statement following High Court decision on Amigo Scheme of Arrangement
• APP scams – Confirmation of Payee – PSR publishes consultation paper
• Climate-related data gaps – The Network for Greening the Financial System publishes a progress report with preliminary findings
• Re ALL Scheme Ltd [2021] EWHC 1401 (Ch)

Securities and Markets

• Commission Delegated Regulation (EU) 2021/822 as regards the annual supervisory fees charged by the European Securities and Markets Authority to trade repositories published in the Official Journal
• SFTR – ESMA publishes final report and guidelines on the calculation positions by trade repositories
• Commodity derivatives - ESMA publishes consultation paper on draft technical standards
• Functioning of the European Supervisory Authorities – ESMA publishes response to European Commission consultation
• Disclosure Requirements for Initial Reviews and Preliminary Ratings – ESMA publishes consultation paper
• CSDR Review – ESMA publishes proposals
• Securitisation Regulation – ESMA publishes consultation paper on synthetic securitisations regulatory technical standards
• UK EMIR – Bank of England publishes consultation paper on modifications to scope of contracts subject to the derivatives clearing obligation to reflect interest rate benchmark reform

Asset Management

• Funds’ marketing communications – ESMA publishes final report and guidelines

Insurance

• Supervision of climate-related risks – IAIS publishes application paper
• New chairperson of EIOPA – Council of the EU adopts decision
• New statutory pension dashboard requirements – Pensions Dashboard Programme publishes call for input

Financial Crime

• The Covert Human Intelligence Sources (Criminal Conduct) Act 2021 (Commencement and Transitional Provisions) Regulations 2021
• Regulation of Investigatory Powers (Criminal Conduct Authorisations) (Amendment) Order 2021 (SI 2021/601)

Enforcement

• Antitrust – Commission fines investment banks for cartel participation
• Oversight of appointed representatives – FCA publishes first supervisory notice to Marshall Sterling Investment Management Ltd
• Contracts for differences – FCA publishes First Supervisory Notice to EverFX