BANKING

BoE speech: Putting up a fence

James Proudman, Executive Director, UK Deposit Takers Supervision, PRA has given a speech on the ring-fencing regime and its implementation. The Bank of England, 16 June 2017

Council agrees creditor hierarchy Directive and IFRS 9 Regulation

The Council of the EU has announced a package of proposals aimed at reducing risk in the banking industry that includes;

- a draft directive on the ranking of unsecured debt instruments in insolvency proceedings;

- a draft regulation on transitional arrangements to phase in the regulatory capital impact of the IFRS 9 international accounting standard. Council of EU, 16 June 2017

Banking Standards Board Annual Review 2016/17

The Banking Standards Board has published an annual review for 2016/17, providing an assessment on 2016 and its work for the year ahead. BSB, 16 June 2017

EBA response to EC consultation on FinTech

The EBA has published its draft response to the European Commission's consultation paper on FinTech: a more competitive and innovative European financial sector. EBA, 16 June 2017

Bank of England Quarterly Bulletin 2017 Q2 – response to climate change

The Bank of England has published a bulletin providing a response to the issue of climate change. BoE, 16 June 2017

INSURANCE

EIOPA Chair speech on regulation and supervision in insurance

Gabriel Bernardino, EIOPA Chair has given a speech on the evolving regulatory landscape of insurance. EIOPA, 15 June 2017

INVESTMENTS AND FUNDS

Implementing Regulation on format and timing of communications and publication of suspension and removal of financial instruments under MiFID II published

Commission Implementing Regulation (EU) 2017/1005 laying down implementing technical standards with regard to the format and timing of the communications and the publication of the suspension and removal of financial instruments under the MiFID II Directive has been published in the Official Journal. European Commission, 16 June 2017

ESMA: delegation agreements – working towards increase supervisory convergence

ESMA has published new information in relation to delegation agreements, explaining that working towards increased supervisory convergence is beneficial to both EU supervisors and financial market participants. ESMA, 16 June 2017