Financial Regulation Weekly Bulletin - 29 April 2021

Click on the headings below to access each section:

General

• Financial Services Bill receives Royal Assent
• COVID-19 – FCA publishes speech on effective regulation in a post-pandemic world
• Digital sandbox pilot – FCA publishes evaluation report
• Complaints data – FCA publishes data for H2 2020
• Cyber co-ordination group meetings – FCA publishes summary of insights

Beyond Brexit

• The Recognised Auction Platforms and Greenhouse Gas Emissions Trading Scheme Auctioning (Amendment) Regulations 2021 – Statutory instrument published

Banking and Finance

• Liquidity Monitoring under the CRR – EBA consults on draft ITS on supervisory reporting
• AFM and deposit guarantee schemes – EBA consults on draft guidelines
• Mortgage exposures under the CRR – EBA consults on draft regulatory technical standards specifying factors and conditions to be considered when assessing appropriateness of risk weights and minimum LGD values
• Climate change and banks’ role in greening the economy – ECB publishes speech
• Payment and Electronic Money Institution Insolvency Regulations 2021 – draft statutory instrument published­
• Financial exclusion – House of Lords Liaison Committee publishes follow-up report
• Insolvency changes for payment and electronic money institutions – HM Treasury publishes its response to consultation
• Climate Biennial Exploratory Scenario – Bank of England updates webpage and publishes documents
• PRA Rulebook – PRA publishes consultation paper to correct error in the definition of ‘higher paid material risk taker’
• COVID-19 – PRA updates statement on implementation of EBA guidelines on reporting and disclosure of exposures
• Prudential framework – PRA publishes Discussion Paper: A strong and simple prudential framework for non-systemic banks and building societies (DP1/21)
• Climate change and sustainable finance – FCA publishes webpage
• Proposed scheme of arrangement – FCA publishes statement and letter of concerns
• LIBOR transition – The Working Group on Sterling Risk-Free Reference Rates publishes statement and paper
• Jackson v Ayles and other [2021] EWHC 995 (Ch), 23 April 2021

Securities and Markets

• Extension of transition period relating to treatment of exposures to third country CCPs under EMIR – European Commission consults on draft Implementing Regulation
• UK MiFID – FCA publishes CP21/9 on changes to UK MIFID’s conduct and organisational requirements
• Financial promotion rules – FCA discussion paper: Strengthening our financial promotion rules for high-risk investments and firms approving financial promotions (DP21/1)

Insurance

• Blockchain and smart contracts in insurance – EIOPA publishes discussion paper
• PRA supervision of annuity providers – Speech by Charlotte Gerken, PRA Executive Director of Insurance

Financial Crime

• Global Anti-Corruption Sanctions Regulations 2021 – Statutory instrument enters into force
• Global anti-corruption sanctions – Foreign, Commonwealth & Development Office and Office of Financial Sanctions Implementation issues guidance
• Global Anti-Corruption Sanctions Regime – Foreign Secretary announces the UK’s first sanctions under the new regime

Enforcement

• US dollar supra-sovereign, sovereign and agency bond trading cartel – EU Commission fines investment banks
• Firm culture and compliance – FCA publishes speech