Financial Regulation Weekly Bulletin - 7 July 2022

Click on the headings below to access each section:

General

• Cryptoasset Roadmap 2022-2023 - Published by IOSCO
• EU digital finance package - Political agreement reached on MiCA
• Taxonomy Climate Delegated Act on nuclear and gas activities - European Parliament announces MEPs do not object
• Change in control notification delays - FCA updates webpage
• Regulated firms - FCA publishes Finalised Guidance (FG22/4) on approach to compromises
• Director of Consumer Finance, Director of Wholesale Buy-Side, Director of Digital Assets, Director of Retail and Regulatory Investigations, Director of Strategy, Policy International and Intelligence, and Director of Wholesale, Sell-Side - FCA makes new appointments
• Climate-related data gaps - The NGFS publishes final report

Beyond Brexit

• The Financial Services (Miscellaneous Amendments) (EU Exit) Regulations 2022 - Draft statutory instrument and explanatory memorandum published

Banking and Finance

• Cross-border payments - FSB consults on interim report
• Proportionality - Basel Committee on Banking Supervision publishes high level considerations
• PSD2 - EBA publishes Decision on reporting payment fraud data
• CRR - EBA assesses implementation of its Opinion on the treatment of legacy instruments
• UK financial stability - Report published by the FPC with Financial Policy Summary and meeting record
• Single Payments Area - EPC publishes version 2.1 of the Single Euro Payment Area Request-To-Pay scheme rulebook
• Bank of Beirut (UK) Ltd v Moukarzel EWHC 377 (Comm)

Securities and Markets

• CSDR buy-in regime - European Commission adopts Commission Delegated Regulation amending RTS suspending application
• Qualification of financial advisors - European Commission publishes report
• EU SME referral scheme - European Commission publishes report
• ESMA 2022 deliverables - ESMA publishes letter to European Commission
• Fourth EU-wide CCP stress test - ESMA publishes report
• EURIBOR - EMMI publishes outcome of second annual review
• Fees for incoming CCPs and CSDs - Bank of England publishes two consultation papers
• UK-based equity markets - FCA publishes Consultation Paper (CP22/12)

Asset Management

• IFR - Commission Delegated Regulation (EU) 2022/1159 on RTS on the disclosure of firms’ investment policy published in OJ
• ELTIF Regulation - ECON publishes report on proposed amending Regulation
• Sustainable Disclosure Requirements and investment labelling regime - FCA publishes update on Discussion Paper (DP21/4)
• Retail investment funds - FCA publishes Policy Statement (PS22/8) on separate unit classes
• CMC Spreadbet PLC v Robert Tchenguiz EWHC 1640 (Comm)

Insurance

• IRRD - EIOPA publishes staff paper on proposed Directive
• Contract boundaries and technical provisions valuations - EIOPA publishes revised guidelines
• Solvency II - PRA publishes statement on recalculation of the transitional measure on technical provisions
• Solvency II - PRA publishes Policy Statement (PS6/22) on definition of an insurance holding company

Financial Crime

• Virtual assets and virtual asset service providers - FATF publishes Report on implementation of Recommendations
• AML/CFT - HM Treasury updates advisory notice on controls in high-risk third countries

Enforcement

• Creditors’ voluntary liquidation - FCA publishes first supervisory notice issued to Alexander David Securities Limited