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

Thursday, 30 October 2014
FCA consults on restrictions on the retail distribution of regulatory capital instruments; FPC updates guidance for firms not taking part in the concurrent stress test of the UK banking system; IAIS guidance and resolution of main issues on BCR for G-SIIs; IAIS paper on approaches to conduct of business supervision; IAIS reports on findings of self-assessment and peer review of observance of certain insurance core principles; IAIS paper on supervisory colleges; EIOPA consults on proposal for guidelines on product oversight and governance arrangements; IMD 2 – Council presidency compromise proposal; FCA fines Yorkshire Building Society £4,135,600 for treating borrowers unfairly; SFO charges former Tullett Prebon Group Ltd employee for manipulation of LIBOR; Now available through FSnet: briefing “Landmark ruling in New York, the ‘Separate Entity Rule’ lives on”

Wednesday, 29 October 2014
FSB reports on implications of structural banking reforms; Regulation on benchmarks and Regulation on reporting and transparency of SFTs – Council presidency compromise proposals; ESMA agrees to emergency short selling measures introduced by Italian CONSOB; ESMA publishes responses received to consultations on UCITS; Implementation of the Kay Review on equity markets – progress report

Tuesday, 28 October 2014
Results of ECB comprehensive assessment and EBA EU-wide stress test of banks; BoE consultation on fair and effective markets review; IAIS paper on approaches to corporate governance of insurance groups; CRD 4 – PRA policy statement on rules for credit risk mitigation, credit risk, governance, and market risk; IAIS paper on combating bribery and corruption; EIOPA reports on the EU-US insurance project event on increased transatlantic cooperation; Outcomes of plenary meeting of the FATF; FATF guidance on transparency and beneficial ownership; FATF guidance for a risk-based approach for the banking sector; EU Banking Union: FIG client webinar series

Monday, 27 October 2014
Mortgage Credit Directive – RTS on the minimum professional indemnity insurance to be held by credit intermediaries in OJ; CRD 4 - EBA single rulebook Q&As; EMIR – ESMA Q&As; Market Abuse Directive/Regulation fact sheet; EU Banking Union: FIG client webinar series

Friday, 24 October 2014
BoE approach to resolution of failed institutions; SSM - ECB consults on draft Regulation on reporting of supervisory financial information; House of Commons Treasury Committee reports on Project Verde regarding the Co-operative Bank; IAIS reports on basic capital requirements for G-SIIs; Now available through FSnet "What to expect from the EU in the next year" seminar materials

Thursday, 23 October 2014
European Parliament approves appointment of new European Commission; ESMA updated Q&As on prospectus issues; EU Banking Union: FIG client webinar series

Wednesday, 22 October 2014
IBA position paper on the evolution and enhancement of ICE LIBOR; SRM Regulation/BRRD – Commission issues rules on contributions of banks to resolution funds; ESRB decision on the extension of certain deadlines on funding of credit institutions; BBA consumer credit seminar – speech by Linda Woodall (FCA); FOS news; Court overturns FOS’ decision due to non-eligible complainant; Court finds that contractual wording successfully disclaimed liability for advice; EU Banking Union: FIG client webinar series

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

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