Financial Regulation Weekly Bulletin - 30 September 2021

Click on the headings below to access each section:

General

• COVID-19 – ESRB recommendation on restriction of distributions to lapse
• Joint Committee of ESAs publish work programme for 2022
• ESMA publishes work programme for 2022
• Greensill Capital inquiry – HM Treasury, FCA and PRA respond to Treasury Committee report
• 2021 CBEST assessments – Bank of England, PRA and FCA publish joint Dear Senior Management Function letter on findings
• Public cloud material outsourcing – Bank of England publishes Dear CEO letters on supervisory expectations
• 2020/21 written auditor reporting – PRA publishes Dear CFO letter on feedback
• Diversity and inclusion – FCA publishes speech

Beyond Brexit

• Interchange fees – PSR publishes policy statement

Banking and Finance

• Investment Firms Regulation – European Commission adopts three Delegated Regulations setting out RTS on prudential requirements
• PSD2 – Delegated Regulation with RTS on framework for home-host co-operation and information exchange published in OJ
• EBA launches 2021 transparency exercise
• Cash Ratio Deposit scheme – HM Treasury publishes consultation paper
• Domestic Liquidity Sub-Groups – PRA publishes consultation paper

Securities and Markets

• Short Selling Regulation – European Commission adopts Delegated Regulation amending notification threshold
• MiFID II – ESMA publishes consultation paper on best execution reports
• CSDR – ESMA calls on European Commission to delay mandatory buy-in regime
• Short Selling Regulation – ESMA publishes consultation on review
• Benchmarks Regulation – ESMA publishes final report and guidelines on methodology, oversight function and record keeping
• CSDR – ESMA publishes final report and guidelines on settlement fails reporting under Article 7
• Derivatives – ESMA publishes speech on priorities
• MiFID II – ESMA publishes final report on algorithmic trading
• Access to and use of credit ratings – ESMA publishes opinion recommending legislative changes
• UK EMIR – Bank of England statement on modifying scope of contracts subject to derivatives clearing obligation
• UK EMIR – Bank of England consults on scope of contracts subject to derivatives clearing obligation
• LIBOR – FCA arrangements for orderly wind-down at end-2021
• Recovery and resolution frameworks for CCPs – ISDA and FIA publish comparative review
• Regulation of cross-border derivative activity – FIA publishes paper
• FICC markets – FMSB publishes spotlight review on hybrid working

Asset Management

• Productive finance investment – Productive Finance Working Group report and recommendations
• Wealth management and stockbroking supervision strategy – FCA publishes portfolio letter

Insurance

• IBOR – EIOPA publishes approach for IBOR transitions

Financial Crime

• AML/CTF ­– JMLSG publishes revised trade finance sectoral guidance
• AML/CTF ­– JMLSG consults on revisions to its Guidance on monitoring customer activity
• Anti-bribery and corruption compliance – UK Finance publishes report on the definition of public officials