05 Aug 2022

Financial Regulation Weekly Bulletin - 4 August 2022

Includes developments in relation to: ISSB Draft Sustainability Standards; appointed representatives regime; mortgage switching; pre-hedging; Long-Term Asset Fund; and climate change risk scenarios

Click on the headings below to access each section:

General

  • ESG ratings providers - European Commission publishes summary report of consultation responses
  • ISSB Draft Sustainability Standards - BEIS publishes letter to International Sustainability Standards Board
  • TCFD disclosures for listed companies - FCA and FRC find significant progress, but further improvement needed
  • Appointed representatives regime - FCA publishes Policy Statement (PS22/11)

Banking and Finance

  • Deposit Guarantee Schemes Directive - EBA consults on methods for calculating contributions
  • Approach to remuneration - FCA publishes letter to Committee Chairs
  • Mortgage switching - FCA publishes statement

Securities and Markets

  • Addressing non-default losses - CPMI and IOSCO publish joint discussion paper on CCP practices
  • MiFIR - ECON publishes draft report on proposed amending Regulation
  • Pre-hedging - ESMA publishes call for evidence
  • CSDR - ESMA updates Q&As on settlement discipline

Asset Management

  • Disclosure, inducements and suitability rules - European Commission publishes final report
  • IFR - EBA publishes Final Report on Guidelines on liquidity requirements exemption
  • Financial promotion rules - FCA publishes Policy Statement (PS22/10) and Handbook rules for high-risk investments and firms approving financial promotions
  • Long-Term Asset Fund - FCA publishes Consultation Paper (CP22/14) on broadening the retail distribution

Insurance

  • Governance arrangements in third countries - EIOPA consults on draft supervisory statement
  • Climate change risk scenarios - EIOPA publishes Application Guidance and Feedback Statement on Own Risk and Solvency Assessment
  • Non-compliant pension transfer advice - FCA publishes Consultation Paper (CP22/15) on calculating redress
Contact Information
Selmin Hakki
Senior PSL at Slaughter and May