Financial Regulation Weekly Bulletin - 9 March 2023

Click on the headings below to access each section:

General

• Reduction of greenhouse gas emissions - ESMA publishes letter from European Commission on assessment of financial system’s resilience to stress and invitation to conduct stress test
• Financial services contracts concluded at a distance - Council of the European Union publishes general approach
• Independence of the Bank of England - House of Lords’ Economic Affairs Committee launches inquiry
• Financial impact of greenwashing - House of Commons Treasury Sub-Committee publishes letter sent to FCA
• Implementing the Consumer Duty - FCA publishes third series of portfolio letters
• Business specific complaints data - FOS publishes Consultation Paper on temporary changes to outcome reporting
• Fair business banking - APPG publishes report on framework for compensation and redress

Banking and Finance

• SEPA Migration Regulation - ECON publishes draft report on proposed amending Regulation
• Benchmarking diversity practices and the gender pay gap - EBA publishes report
• Mandatory reimbursement for APP scams - Treasury Committee publishes correspondence with Bank of England, FCA, PSR and FOS
• Second Resolvability Assessment Framework - Bank of England publishes ‘Dear CFO’ letter
• Post-Implementation Review - BBRS publishes second report of findings

Securities and Markets

• Proposed CSDR Refit Regulation - ECON publishes report
• Wholesale energy markets - ACER and ESMA agree MoU
• Short Selling Regulation - FMLC publishes response to HM Treasury

Asset Management

• Investment Research Review - HM Treasury publishes terms of reference
• Long Term Asset Fund - FCA authorises first Long Term Asset Fund

Insurance

• Aggregation Method - IAIS publishes report on finalised criteria
• Digital transformation - EIOPA launches survey
• Reform of UK Solvency II - Treasury Committee publishes correspondence on financial stability

Financial Crime

• AML/CTF - JMLSG publishes revised guidance

Enforcement

• Suspension of nickel trading on the LME - FCA and Bank of England publish statements on supervisory action
• R (Charles Street Securities Europe LLP) V Financial Ombudsman Service [2023] EWHC 448 (Admin)