Financial Regulation Weekly Bulletin - 3 June 2021

Click on the headings below to access each section:

General

• Distance Marketing Directive – European Commission publishes inception impact assessment
• Counterparty credit exposure – PRA and FCA publish letter to chief risk officers
• SMCR – PRA publishes policy statement on SMF temporary absences
• UK’s G7 presidency – IRSG publishes paper on financial services priorities

Banking and Finance

• Cross-border payments – FSB publishes consultation paper on quantitative targets
• EU CRR – EBA publishes consultation paper on institutions’ Pillar 3 disclosure of interest rate risk exposures
• Benchmarking of internal models – EBA publishes final report on draft implementing technical standards
• Mapping climate exposures to risk – EBA publishes results of EU-wide pilot exercise
• Resolution framework public interest assessment – Single Resolution Board publishes addendum
• Resolvability assessment framework – Bank of England publishes updated statements of policy
• Operational continuity in resolution – PRA publishes policy statement PS9/21 on revised policy
• Operational continuity in resolution – PRA publishes policy statement on amendments to reporting and disclosure dates for resolution assessments
• NPL securitisations – PRA publishes consultation paper on updated prudential standards
• UK ring-fencing regime legislation – FMLC establishes working group on legal uncertainties

Securities and Markets

• LIBOR transition – FSB publishes statement on smooth and timely transition
• LIBOR transition – IOSCO publishes statement
• MiFID II – European Commission publishes draft Delegated Regulation for consultation
• EMIR – European Commission adopts Delegated Regulation specifying commercial terms for clearing services for OTC derivatives
• EMIR and SFTR – ESMA publishes consultation paper on Guidelines for data transfer between trade repositories
• Benchmark administrators – ESMA publishes supervisory briefing
• CSDR; MiFIR; Securitisation Regulation; BMR; EMIR; SFTR; MiFID II; UCITS and AIFMD – ESMA updates Q&As
• EU Investment Firms Regulation – ESMA and EBA publish provisional list of instruments and funds for smallest investment firms
• MiFID II/MiFIR – ESMA publishes final report and guidelines on market data obligations
• PRIIPs – HM Treasury announces extension of exemption for UCITS funds
• Market conduct – FCA publishes Market Watch issue 67
• Cryptoasset firms – FCA extends Temporary Registration Regime
• EU Taxonomy – IRSG publishes paper on UK application
• Annual Report – FMSB outlines areas of focus for 2021

Asset Management

• AIFMD – ESMA updates opinion on reporting information

Insurance

• Solvency II – PRA publishes policy statement on deep, liquid and transparent assessments and GBP transition to SONIA
• General insurance pricing practices – FCA publishes policy statement
• Workplace pensions – FCA publishes statement on required charges and costs

Enforcement

• Yen Interest Rate Derivatives trading market – European Commission re-adopts cartel decision and re-imposes fines
• Woodford fund investigation – FCA publishes letter to House of Commons Treasury Committee