This week has seen the FCA's response to the Competition and Markets Authority's final report into the effectiveness of competition in the retail banking market. In other news, the European Banking Authority has published a consultation containing guidelines for authorisation and registration under PSD2.

REGULATORY

Banks and finance platforms designated under Small and Medium Sized Business (Finance Platforms) Regulations 2015

HM Treasury has published a notice of designation listing the banks and finance platforms designated under the Small and Medium Sized Business (Finance Platforms) Regulations 2015. HM Treasury has the power to designate alternative finance providers under the Regulations which require designated banks to refer SME customers that they reject to finance platforms.

HM Treasury, 01 November 2016             

UK

FSB: FinTech speech

The Financial Stability Board (FSB) has published a speech given by Svein Andresen, Secretary General which provides details of their work on FinTech.

The Financial Stability Board, 3 November 2016

HM Treasury responds to transposing BRRD consultation

HM Treasury has published its response to the consultation on the implementation of the Bank Recovery and Resolution Directive.

HM Treasury, 4 November 2016

HM Treasury response to CMA report on competition in the retail banking market

HM Treasury has published its response to the Competition and Markets Authority's (CMA) final report into the effectiveness of competition in the retail banking market.

HM Treasury, 3 November 2016

FCA response to CMA report on competition in the retail banking market

The FCA has published its response to the Competition and Markets Authority's (CMA) final report into the effectiveness of competition in the retail banking market.

Financial Conduct Authority, 3 November 2016

EU

Leaving the EU & financial services

The Economic Secretary to HM Treasury, Simon Kirkby has made a statement in the House of Commons providing information on financial services and Brexit.

UK Parliament, 3 November 2016

EBA consultation on guidelines for authorisation and registration under PSD2

The European Banking Authority (EBA) has published a consultation which contains draft guidelines on the information to be provided for the authorisation as a payment institution and an e-money institution, and for registration as an account information service provider (AISP).

EBA, November 2016

Harmonising supervisory rules for banks supervised by national competent authorities, ECB consults

The European Central Bank (ECB) has published a consultation on a guideline and a draft recommendation relating to the exercise of options and discretions (O&Ds) available for banks that it does not directly supervise. The ECB has also published an explanatory memorandum, a set of Q&As on the consultation, and a guide to O&Ds available under EU law.

European Central Bank, 3 November 2016