Financial Regulation Weekly Bulletin - 7 October 2021

Click on the headings below to access each section:

General

• Regulation, supervision and oversight of ‘global stablecoin’ arrangements – FSB publishes report on implementation of high-level recommendations
• ESG – OECD publishes reports on investing, financial markets and climate transition
• EU-US Financial Regulatory Forum – European Commission publishes joint statement following September 2021 meeting
• Proactively settled complaints – FOS publishes consultation paper on temporary change to complaints data reporting
• Anti-competitive arrangements in the financial services sector – CMA updates timetable
• Reforming competition policy and new pro-competition regime for digital markets – CMA publishes responses to BEIS consultations
• Future skills – Financial Services Skills Commission launches framework

Banking and Finance

• BRRD – Implementing Regulation on ITS for contractual recognition of write down and conversion powers published in OJ
• CRR – Commission Implementing Decision on third-country equivalence for purposes of treatment of exposures published in OJ
• EBA publishes work programme for 2022
• Bank supervision priorities – ECB publishes speech on the incorporation of climate risks in banks’ risk governance frameworks
• ISO 20022 Payment Messaging – Bank of England and Pay.UK publish joint response to consultation
• Open Banking Implementation Entity – CMA publishes update on Open Banking following independent report

Securities and Markets

• Principles of Financial Market Infrastructures – IOSCO and CPMI consult on application to stablecoin arrangements
• Retail investor protection – ESMA publishes call for evidence
• CSDR – ECSDA updates settlement fail penalties framework

Insurance

• Climate change – IAIS publishes report on the impact of climate change on insurance sector financial stability
• Solvency II – EIOPA publishes comments on European Commission proposals
• EIOPA publishes single programming document 2022-24 including annual work programme 2022
• Internal models – EIOPA launches second phase of study on diversification
• Mutual insurance sector – PRA publishes speech on adaptability and resilience
• General insurance pricing practices – FCA publishes updated Q&As
• Workplace pension schemes – FCA publishes policy statement on assessing value for money

Financial Crime

• Firms’ financial crime data returns 2017-20 – FCA publishes analysis

Enforcement

• Money Laundering Regulations 2007 – NatWest plc pleads guilty in criminal proceedings