Financial Regulation Weekly Bulletin - 31 August 2023

Click on the headings below to access each section:

General

• FSMA 2023 - Explanatory notes published
• FSMA 2023 - Wider Implications Framework - FCA publishes updated Terms of Reference
• Concurrency arrangements - CMA publishes Call for Inputs

Beyond Brexit

• Gibraltar Authorisation Regime - Financial Services Act 2021 (Commencement No 5) Regulations 2023 published

Banking and Finance

• Significant risk concentrations and intragroup transactions - ECB consults on draft guide
• FSMA 2023 - Financial promotions, capital requirements and change of control - Statutory instrument published
• FSMA 2023 - Payment card interchange fees and payment services - HM Treasury publishes corrected statutory instrument
• FSMA 2023 - HM Treasury publishes statutory Instrument to correct error
• Wholesale cash distribution - Bank of England publishes statement of policy and consultation response
• Interest-only mortgages - FCA publishes research note
• Politically exposed persons - FCA publishes letter requesting information
• FSMA 2023 - Access to cash - HM Treasury and FCA announce approaches
• Re AS LHV Pank (UK Branch) and another

Securities and Markets

• CSDR - Commission Delegated Regulation concerning penalty mechanism for settlement fails relating to cleared transactions submitted by CCPs published in OJEU
• FSMA 2023 - UK MiFIR and share trading obligation - FCA publishes direction
• FSMA 2023 - UK MiFIR, UK EMIR and derivatives trading obligation - FCA publishes direction
• FSMA 2023 - UK MiFID and UK MiFIR - FCA publishes updated Statements of Policy
• Wholesale Data Market Review - FCA publishes update report
• Non-default losses - CPMI and IOSCO publish report on current central counterparty practices

Asset Management

• Money market fund reforms - FSB publishes terms of reference and requests feedback for thematic peer review
• IFD - Commission Delegated Regulation on specific liquidity measurement published in OJEU
• IFD - Commission Delegated Regulation on risk measurement for investment firms published in OJEU
• Vulnerable customers and pension transfers - FCA publishes webpage

Insurance

• Solvency II - Commission Implementing Regulation on reporting under Solvency II published in OJEU

Financial Crime

• MLD4 - Commission Delegated Regulation amending the list of high-risk third countries adopted
• Breaches of financial sanctions - OFSI publishes updated guidance on enforcement and monetary penalties
• Cryptoasset businesses and the Travel Rule - FCA publishes statement
• APP fraud - PSR launches two consultation papers on reimbursement requirement
• Cryptoasset transfers and the Travel Rule - JMLSG publishes revised guidance

Enforcement

• Market abuse - Ofgem publishes Final Notice and fines firm