BANKING

CMA issues directions to Co-operative Bank to ensure compliance with Retail Banking Market Investigation Order 2017

The CMA has issued directions to the Co-operative Bank which will ensure that it complies with Part 7 of the Retail Banking Market Investigation Order 2017. This section of the order requires that from 2 August 2017, providers of personal current accounts specify a monthly maximum charge that any customer could be charged for using (or attempting to use) their unarranged overdraft.

CMA, 14 August 2017

 

EBA updates list of public sector entities for risk-weighting

The EBA has updated their list of public sector entities that should be treated as regional governments, local authorities or central governments for the calculation of capital requirements under the Capital Requirements Regulations.

EBA, 14 August 2017

 

INSURANCE

Implementing Regulation on standardised presentation format for IPID under IDD published in OJ

The Official Journal of the EU has published the Commission Implementing Regulation (EU) 2017/1469, which lays down a standardised presentation format for the insurance product information document (IPID or PID) under Insurance Distribution Directive ((EU) 2016/97) (IDD). This will enter into force on the 1 September 2017.

Official Journal of the EU, 12 August 2017