UK

Review of financially vulnerable customers. The UK Financial Conduct Authority announced key findings of its review of financially vulnerable customers, which follows its 2014 report, Mortgage lenders’ arrears management and forbearance.(9/6/2016)

Consultation paper released on proposed changes to standards applied to Pension Wise designated guidance providers. The FCA announced the release of CP16/22 Pension Wise standards: changes for secondary annuity market guidance. Comments are due on October 4, 2016. (9/6/2016)

Policy development update. The FCA published its policy development update, which provides information on its recent and upcoming publications. (9/5/2016)

PRA publishes policy statement relevant to credit unions. The Prudential Regulation Authority published a policy statement relevant to credit unions that provides feedback to responses to Chapter 5 of Consultation Paper 41/15 ‘Occasional Consultation Paper,’ and sets out final rules to amend the definition of “credit union” in the PRA Rulebook Glossary. (9/5/2016)

Transaction data throws new light on corporate bond liquidity. The FCA economists wrote an article discussing how transaction data released by the FCA implies no drop in liquidity in the UK’s £2.5tn corporate bond markets. (9/2/2016)

FCA launches new website. The FCA announced that its new website is now live. Features include redesigned News and Publications sections, as well as new EventsInsight, and Media Centre sections. (9/2/2016)

External business statistical release published. The Bank of England announced publication of its statistical release, which covers the claims and liabilities of all UK resident Monetary Financial Institutions as compared to all other countries. (9/2/2016)

BOE announces results of survey of foreign exchange and OTC interest rate derivatives markets. The BOE published the results of its survey in the foreign exchange and over-the-counter interest rate derivatives market. The survey, which is coordinated globally every three years by the Bank of International Settlements, found that the average daily turnover in foreign exchange markets and in OTC interest rate derivatives declined by 11 percent and 12 percent, respectively. (9/1/2016) BOE press release.

PRA Regulatory Digest published. The PRA published its Regulatory Digest - August 2016, which highlights key regulatory news and publications delivered for the month. (9/1/2016)

Europe

EU’s outcomes at G20 Summit. The EU announced that it secured important outcomes at the G20 Leaders’ Summit, which took place September 4-5 in Hangzhou, China. The G20 Leaders’ Communiqué sets out immediate action in the areas of steel, taxation, and the refugee crisis. On taxation, the G20 committed to work for a “fair and modern international tax system,” in particular by combating tax avoidance. (9/5/2016)

2016 Consumer Markets Scoreboard released. The European Commission announced publication of its 2016 Consumer Markets Scoreboard, which monitors EU consumers’ ratings of how 42 goods and services markets work. Factsheet.Infographic. (9/5/2016)

ESMA sees risk outlook decline for EU securities markets. ESMA announced that, according to its latest Report on Trends, Risks and Vulnerabilities No. 2, 2016 on EU markets, which covers market developments from January to June 2016, the overall assessment of risk levels in EU markets under its remit remains unchanged. In addition, market and credit risks remain at the highest level, while liquidity and contagion risk remain high. (8/30/2016)

Consolidated Banking Data published for end-March 2016. The European Central Bank published the end-March 2016 Consolidated Banking Data, a data set of the EU banking system on a group consolidated basis. In addition, a few revisions to past data were disclosed. (8/24/2016)