BANKING

Government's response to HM Treasury consultation on FPC powers of direction in buy-to-let market

HM Treasury has published a document setting out the government's formal response to its December 2015 consultation on powers of direction for the Financial Policy Committee's (FPC) relating to the buy-to-let market.
HM Treasury, 17 November 2016

A statement of difference on Small and Medium Sized Business Instrument 2016 has been published by FOS

Financial Ombudsman Service (FOS) has published a statement of difference relating to the Small and Medium Sized Business (Finance Platforms) Instrument 2016.
FOS, 17 November 2016

PSR consults on financial penalty scheme for use of retained amount from PSR regulatory penalty receipts

The Payment Systems Regulator (PSR) published a consultation paper setting out its draft Financial Penalty Scheme, which announced the PSR's proposed methods for allocating the money it retains from regulatory penalty receipts (CP15/5)

PSR, 17 November 2016

Text of Economic and Monetary Affairs Committee (ECON) resolution on Basel III revisions announced

The European Parliament published the text of a resolution voted on by its ECON on revisions to Basel III that are being considered by the Basel Committee on Banking Supervisions (BCBC) (B8-1226/2016)

European Parliament, 17 November 2016

Financial Stability Board agrees work plan for 2017

The Financial Stability Board (FSB) have met to discuss the current vulnerabilities ongoing policy work and agrees its 2017 work plan.
FSB, 17 November 2016

INSURANCE

PRA consults on reporting format of national specific templates and reporting clarifications under Solvency II

The PRA has issued a consultation paper on the reporting format of national specific templates (NSTs) and reporting clarifications under the Solvency II Directive (2009/138/EC) (CP40/16).The NSTs contain information that is considered to be specific to the UK market and supervisory approach. They are in addition to Solvency II annual and quarterly reporting.
PRA, 17 November 2016

ABI responds to Treasury Committee's Solvency II inquiry

The Association of British Insurers (ABI) has published a summary response to the House of Commons Treasury Committee inquiry into the new insurance regulatory regime under the Solvency II Directive (2009/138/EC)

ABI, 17 November 2016


INVESTMENTS AND FUNDS

FCA finds weak price competition in some areas of the asset management industry

FCA has published an interim report outlining the findings of its asset management market study, the results suggest that there is a weak price competition in a number of areas of the asset management sector.

FCA, 18 November 2016

Financial Services and Markets Regulations 2016 announced.

The Financial Services and Markets (Disclosure of Information to the European Securities and Markets Authority etc. and Other Provisions) Regulations 2016 (SI 2016/1095) have been published with an explanatory memorandum.
HM Treasury, 17 November 2016

ESMA Chair says safeguarding investors is key to Capital Markets Union's success

Steven Maijoor, Chair for ESMA has given a speech entitled "Safeguarding investors is key to ensuring the Capital Markets Union's success" at the Borse Stuttgart MiFID-Kongress, Germany.

ESMA, 17 November 2016