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Financial Services Daily News: this month's daily news (last 30 days)

Tuesday, 21 October 2014
EBA consults on security of electronic retail payments; EBA single rulebook Q&As; Banking union – ECB decision on implementation of separation between monetary policy and supervision functions in OJ; EIOPA final report and guidelines on use of the LEI; IMD 2 – Council presidency compromise proposal; FCA application to vary a firm's proportionality level with regard to remuneration; IMA amended principles of remuneration; FATF issues outcomes from the experts’ meeting on corruption; The Lending Code – revised version; Hong Kong SFC signs MoU with CSRC to strengthen enforcement cooperation under Shanghai-Hong Kong Stock Connect

Monday, 20 October 2014
FSB consults on cooperation and information sharing with non-CMG host authorities; MAR – ESMA consultation responses; SSR - amending Delegated Regulation as regards the notification of significant net short positions in sovereign debt; Update on prudential regulation – speech by Andrew Bailey (PRA); MAS consults on key elements of Basel III for Singapore merchant banks; PRA Solvency II directors’ update; IFB to expand focus beyond motor fraud; Lloyd’s market bulletin on sanction clauses in insurance and reinsurance contracts

Friday, 17 October 2014
Martin Wheatley’s letter following Treasury Committee enquiry; MoU between FCA and LSB; BBA and CII announce partnership; FSB consults on RRP for SIIs; Speech by Alun Milford, General Counsel for the SFO; Regulation on interchange fees – Council presidency compromise proposal; Now available through FSnet: client briefing on “Bankers’ bonus cap: EBA issues investigation report and opinion on EU bankers' allowances”

Thursday, 16 October 2014
FSB reissues Key Attributes of effective resolution regimes for financial institutions; CPMI/IOSCO report on recovery plans for FMIs; BRRD/SRM Regulation - update on level 2 measures on calculation of resolution fund contributions; CRD 4 - EBA report on EU bankers’ role-based allowances; The ESAs role in financial consumer protection – speech by Steven Maijoor (ESMA); EBA consults on simple, standard and transparent securitisations; PSD 2 – Council presidency compromise proposal; EPC guidance for SEPA direct debit B2B scheme mandate confirmations; Solvency II – PRA update on effect on firms outside EEA belonging to EEA-regulated groups; PRA consults on Solvency II approvals

Wednesday, 15 October 2014
US and UK officials discuss resolutions of G-SIBs; Shadow banking – FSB regulatory framework for haircuts on non-centrally cleared SFTs; ICMA ERC reports on migration of European bond markets to T+2; HM Treasury consults on designation of payment systems for regulation by PSR; PRA consults on approach to with-profits insurance business; Solvency II - FCA feedback statement on COBS rule changes

Tuesday, 14 October 2014
MAR – stakeholder group response on level 2 measures; EBA work programme for 2015; CROs – how to balance twin roles – speech by Gabriel Benardino (EIOPA); Solvency II – Commission Delegated Regulation

Monday, 13 October 2014
BCBS consults on revised corporate governance principles for banks; Publication dates for ECB results of comprehensive assessment and EBA EU-wide stress test of banks; Joint Committee of the ESAs issues 2015 work programme; IOSCO consults on principles regarding the custody of CIS assets; IOSCO withdraws part of securities market risk outlook 2014-15; CRR – Commission Delegated Acts on leverage ratio and liquidity coverage requirements for banks; CRD 4 - EBA singe rulebook Q&As; Commercial Court considers entity liable in damages for breach of contractual warranty in respect of ultra vires transactions; Now available through FSnet: client briefing on “MiFID 2 for asset managers”

Friday, 10 October 2014
FCA fines and bans two former stockbroker directors for failing to protect client money; Market Misconduct Tribunal bans Tiger Asia and Bill Hwang from trading securities in Hong Kong; Hong Kong SFC fines and revokes licence for misconduct; ASIC review of life insurance advice; Now available through FSnet: article on “Avoiding loss in translation: Preserving privilege in international investigations”.

Thursday, 9 October 2014
EBA reports on additional Tier 1 of EU institutions; CRD 4/SRM Regulation – Commission Delegated Acts; AIFMD – FCA Q&As on reporting transparency information

Wednesday, 8 October 2014
Basel III – BCBS FAQs on leverage ratio framework; European Parliament letter to Council on resuming legislative procedure; CSD Regulation – Commission confirms request for ESMA technical advice on delegated acts as final; MIFID – ESMA table on compliance with guidelines on remuneration; Surveillance: The FCA’s expectations and toolkits – speech by Patrick Spens (FCA); FCA data bulletin; APRA releases an aid for directors of ADIs, general insurers and life companies;Now available through FSnet: client briefing on “Bank of Russia sets new remuneration requirements for financial institutions”

Tuesday, 7 October 2014
PRA consults on implementation of ring-fencing; PRA consults on depositor protection; PRA discussion paper on ensuring operational continuity in resolution; PRA consults on policyholder protection; BCBS consults on operational risk capital framework and reviews implementation of operational risk management principles; Lord Hill’s responses to ECON supplementary questions; CSD Regulation – FAQs

Monday, 6 October 2014
Progress report on adoption of the Basel regulatory framework; BRRD - EBA consults on draft guidelines in respect of group financial support; AFME briefing note on T+2 settlement; CRD 4 - EBA single rulebook Q&As; CRD 4 - FCA new webpage; FCA factsheet for completion of the RMAR; FCA policy development update

Friday, 3 October 2014
BRRD - EBA – draft guidelines on write down or conversion of liabilities and interrelationship with CRR; EMIR – ESMA –final report on draft RTS on clearing obligation for OTC interest rate derivatives; EMIR – ESMA consults on the clearing obligation for FX non-deliverable forwards; IOSCO releases securities markets risk outlook for 2014-2015; FPC statement on housing market powers; CRR - Delegated Regulation on transactions with underlying assets; EIOPA final report on the discussion paper on conflicts of interest in direct and intermediated sales of insurance-based products; Wonga to make significant changes to affordability criteria

Thursday, 2 October 2014
AIFMD updated ESMA Q&As; New PRA updates webpages on whistleblowing; PRA/FCA policy statement/guidance on FPC recommendation on loan to income ratios in mortgage lending; ESMA 2015 work programme; EIOPA consults on conflicts of interest in direct and intermediated sales of insurance-based investment products; EIOPA publishes 2015 work programme; ASIC and US CFTC sign MoU on cooperation and exchange of information

Wednesday, 1 October 2014
CRR - ITS on disclosure of values used to identify G-SIIs published in OJ; FSB publishes final report on FX benchmarks; Chartered Banker: Professional Standards Board publishes leadership standards; CRA 3 Regulation - Commission adopts three sets of RTS; The Financial Services and Markets Act 2000 (Consumer Credit) (Transitional Provisions) (No. 4) Order 2014; Enhanced disclosure task force report published; EMIR – ESMA letter to European Commission on reporting; CRD 4 - PRA clarifies EBA reporting instructions; Current Account Switch Service and account number portability: FCA new webpage; Lloyd’s publishes market bulletin on valuation of liabilities rules for year-end solvency test; CMA publishes remedy implementation administrative timetable for the private motor insurance market investigation

Tuesday, 30 September 2014
FCA Handbook Notice; FCA policy statement on regulatory reporting; The future of payment systems – speech by Hannah Nixon (PSR); FSB consults on cross-border recognition of resolution actions; BRRD - EBA consults on guidelines for recovery plan indicators; ESMA final report on draft RTS on major shareholdings; AIFMD– FCA guidelineson reporting transparency information; CRR – ESMA consults on draft ITS on definitions of main indices and recognised exchanges; MiFID – ESMA consults on guidelines on clarifying the definition of derivative; EBA publication of global systemically important institutions’ indicators; FCA charges former Morrison’s executive with insider dealing; MMF Regulation – indicative date for European Parliament plenary session; SSM - ECB publishes guide to banking supervision; Getting the right investor outcomes - speech by William Amos (FCA); IMD 2 - Council presidency compromise proposal; Now available through FSnet: Insurance and reinsurance news – September 2014 issue – Lending in the insurance market

Monday, 29 September 2014
UCITS V - ESMA draft technical advice on depositary function; ESMA consultation on technical advice of the Regulations on European Social Entrepreneurship Funds (EuSEF) and European Venture Capital Funds (EuVECA); EBA draft guidelines on payment commitments under the Deposit Guarantee Schemes Directive 2014/49/EU on deposit guarantee schemes; ESMA consults on draft RTS on prospectus-related issues under Omnibus II; CRD 4 - EBA single rulebook Q&As; ESRB response to ESMA paper on mandatory central clearing for OTC credit derivatives

Friday, 26 September 2014
BoE reports to HM Treasury its recommendations on additional financial benchmarks to be brought inside the UK regulatory scope; FCA consulting on the implementation of the Mortgage Credit Directive; BIS – banking supervisors and central bankers meet to discuss the post-crisis reform agenda; EBA publishes consultation on draft guidelines in relation to Article 4 and Article 4(7) of the BRRD; FCA publishes Regulation Round-up September 2014; Putting the right ideas into practice - speech by Mark Carney (BoE); Financial service complaints data

Thursday, 25 September 2014
CRD IV – PRA consults on its supervisory statement on compliance with EBA guidelines on disclosure of encumbered and unencumbered assets; FCA alerts financial advisers and investors to misselling of EEA Life Settlements Fund; G20 – FSB and IMF publish report to the G20 on the data gaps initiative on foreign currency exposures; ESMA publishes responses to second consultation paper on EMIR which looks at CDS classes that will be subject to Clearing Obligations; PRA issues interim clarifications on CRD firms’ Large Exposure reporting requirements under the CRR; BRRD – EBA publishes consultation paper on its draft guidelines on the minimum list of services or facilities that are necessary to enable a recipient to operate a business transferred to it under Article 65(5) of the BRRD; BRRD – EBA publishes consultation paper on its draft guidelines on liquidating assets under Article 42(14) and material threat to financial stability under Article 39(4) of the BRRD; BoE's Bailey wants better global coordination over bank fines

Wednesday, 24 September 2014
BRRD – EBA publishes final guidelines on institutional tests for extraordinary public support; FOS newsletter; BBA announces financial crime alert system; ESAs hearings before ECON Committee; BoE publishes cyber crime scenario exercise; CRD 4 - PRA clarification of completion of large exposure templates; IAIS publishes HLA principles for G-SIIs; Consultation on FATCA compliance for financial institutions in Singapore; FCA fines Barclays for failing to properly protect clients’ assets

Tuesday, 23 September 2014
FSB and OECD update the G20 on financial reform ahead of the G20 Brisbane Summit; BCBS updated FAQs on Basel III monitoring; ESAs update on risks and vulnerabilities in the EU financial system; BRRD - EBA consults on draft guidelines on triggers for use of early intervention measures; BRRD - EBA consults on draft guidelines on when an institution shall be considered as failing or likely to fail; ECB decision on the separation of monetary policy and supervision functions; CRD 4: PRA and FCA publish a joint consultation on data collection on remuneration practices; IAIS publishes Insurance Capital Standard principles; IAIS publishes revised draft on the common framework for the supervision of IAIGs; Now available through FSnet " The new regulatory regime for individuals" seminar materials

Monday, 22 September 2014
FSB report on aggregation of OTC derivatives TR data; Mortgage Credit Directive – Regulation containing RTS on the minimum monetary amount of professional indemnity insurance; FCA roundtable feedback on Project Innovate; EIOPA risk dashboard update; Court of Appeal upholds convictions in Innospec conspiracy case

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