BANKING

ECB guidance to banks on tackling non-performing loans

The ECB has published their final guidance on non-performing loans, which cover all non-performing exposures, as well as foreclosed assets and "watch-list" exposures and performing forborne exposures.

ECB, 20 March 2017

 

FCA webpage on limitations on debt permissions

The FCA has published a webpage on debt permissions for consumer credit firms, which states that a full permission firm with the permission of debt adjusting or debt counselling with a "no debt management limitation" must review its limitations to ensure they are appropriate.

FCA, 20 March 2017

 

FCA update on investment and corporate banking market study

The FCA has provided an update stating that it will publish its related policy statement in Q2 2017 to its investment and corporate banking market study (MS15/1) webpage.

FCA, 20 March 2017

INSURANCE

BoE's Independent Evaluation Office report on PRA's approach to insurance objective

The Bank of England has published a report which was produced by its Independent Evaluation Office into the PRA's approach to its policy protection duties during the period from 2014 to 2016, with a focus on the second half of 2016.

Bank of England, 20 March 2016

 

PRA response to BoE's Independent Evaluation Office report on PRA's approach to its insurance objective

A consultation has been published by the Cheque & Credit Clearing Company on cheque payments and the image clearing system, which is due to be introduced in late 2017 to digitise cheques and other eligible paper, allowing paper items to be processed more quickly.

Cheque & Credit Clearing Company, 17 March 2016

 

Finance Bill 2017: business tax measures

The first version of the Finance Bill 2017 has been published containing new or updated draft legislation on a number of areas including the substantial shareholding exemption, interest deductibility, hybrid mismatches, penalties for enablers of tax avoidance and the reduction of dividend allowance. The bill has been published with explanatory notes and draft HMRC guidance.

HM Revenue & Customs, 20 March 2017

 

IAIS releases stakeholder engagement plan

The International Association of Insurance Supervisors has published its stakeholder engagement plan on the 20 March 2017.

International Association of Insurance Supervisors, 20 March 2017

 

PRA speech on insurance supervision

The Bank of England has published a speech on insurance supervision given by the Deputy Governor of Prudential Regulation and PRA Chief Executive Officer on insurance supervision at the PRA, Sam Woods.

Bank of England, 20 March 2017

INVESTMENTS AND FUNDS

ESMA signs MoUs with non-EU regulators under EMIR

ESMA has published a press release to announce the memoranda of understanding it has published under EMIR. The memoranda of understanding establish co-operation agreements with Brazil, Japan, India, Dubai, and United Arab Emirates.

ESMA, 20 March 2017

 

G20 communique from March 2017 meeting of finance ministers and central bank governors: financial services aspects

The G20 has published a communiqué on financial sector-related reforms following a meeting of finance ministers and central bank governors in Baden-Baden, Germany, on 17 and 18 March 2017.

G20, 18 March 2017

 

ICE Benchmark Administration releases revised LIBOR code of conduct

The ICE Benchmark Administration has published the fourth issue of the London Interbank Offered Rate (LIBOR) code of conduct for contributing banks, which sets out the practice standards adopted by the IBA for benchmark submitters to ICE LIBOR.

ICE Benchmark Administration, 17 March 2017