BANKING

EBA sets out response to Commission request for additional information on application of proportionality principle to CRD IV remuneration provisions

EBA has published a report providing additional information requested by the European Commission in April 2016, on the application of the principle of proportionality to the CRD IV remuneration provisions.

EBA, 21 November 2016

FSB updates list of G-SIBs for 2016

The Financial Stability Board (FSB) has published an updated list of banks recognised as global systemically important banks (G-SIBs)

FSB, 21 November 2016

Increasing deposit protection limit, PRA consults

The PRA has published a consultation paper that contains proposals to reset the limit of protection provided by the Financial Services Compensation Scheme (FSCS) to depositors of PRA-authorised firms from £75,000 to £85,000, on 30 January 2017.

PRA, 21 November 2016

Building societies maintain share of lending in slowing mortgage market

Building Societies Association (BSA) has published a press release announcing the mortgage lending and saving figure for all 44 building societies for the third quarter of 2016.

BSA, 21 November 2016

INSURANCE

FSB updates list of G-SIIs for 2016

The Financial Stability Board (FSB) has published a list of global systemically important insurers (G-SIIs), in a related press release, the FSB has confirmed that the International Association of Insurance Supervisors (IAIS) is continuing to work on its G-SII assessment and have stated that the FSB will receive a work plan and timelines for this in the first quarter of 2017.
FSB, 21 November 2016

ABI identifies priority markets for trade expansion

The Association of British Insurers have identified eight countries as priority markets as it looks to expand its opportunities to trade.

ABI, 21 November 2016

Amanda Blanc appointed new chair of the Association of British Insurers General Insurance Council

Amanda Blanc, Group CEO, AXA UK & Ireland, has been appointed as the new chair of the ABI’s General Insurance Council (GIC). The GIC sets the ABI’s strategic direction on issues of interest to the general insurance market. Amanda succeeds Maurice Tulloch, who has come to the end of his two year term as chair.

ABI, 21 November 2016

Gable Insurance AG is in liquidation

Gable Insurance AG (a Liechtenstein insurance company that provided private motor and commercial insurance for UK customers) went into liquidation on 17 November 2016. This follows a formal order that was issued to Gable on by the Liechtenstein Financial Market Authority (FMA) to stop writing insurance over concerns with Gable’s financial position. Gable was also placed into Special Administration by the FMA on 10 October 2016 to protect the interests of policyholders.
FCA, 17 November 2016

INVESTMENTS AND FUNDS

Three Delegated Regulations under MiFIR have been published in OJ

  • Delegated Regulation supplementing MiFIR with regard to regulatory technical standards (RTS) on criteria for determining whether derivatives subject to the clearing obligation should be subject to the trading obligation.
  • Delegated Regulation supplementing MiFIR with regard to RTS on access in respect of benchmarks.
  • Delegated Regulation supplementing MiFIR with regard to RTS concerning the information for registration of third-country firms and the format of information provided to clients.

Official Journal of the EU, 21 November 2016

ESMA updates Q&A on application of UCITS Directive

ESMA has issued an updated version of its Q&As on the application of the UCITS Directive, which has most recently been revised by UCITS V.

ESMA, 21 November 2016