BANKING

ESMA supervisory briefing: A common approach to CRA Regulation's provisions to encourage use of smaller CRAs

ESMA has published a supervisory briefing which provides guidance in relation to the application of Articles 8(c) and (d) of the CRA Regulation and encourage competition in the credit ratings industry. ESMA, April 2017

ESMA responds to EC consultation on Capital Markets Union mid-term review

ESMA has responded to the European Commission consultation paper on the Mid-Term Review of the Capital Markets Union (CMU). ESMA, 6 April 2017

The Money Advice Service announces Standard Financial Statement implementation timelines

The Money Advice Service has announced the launch of the Standard Financial Statement (SFS) from 1 March 2017 and has said a transition window will run for around 12 months to allow time for a wider group of organisations to implement appropriately. The Money Advice Service, April 2017

EPC publishes rules for operating, joining and participating in the standardised proxy lookup (SPL) service

The European Payments Council has published rules for operating, joining and participating in the standardised proxy lookup (SPL) service which allows the exchange of the data necessary to initiate P2P mobile payments between proxy-based P2P mobile payments on a pan-European level. The European Payments Council, April 2017

FSB Handbook updated for FSB peer reviews

The Financial Stability Board has updated its Handbook for FSB peer reviews. The Financial Stability Board, 31 March 2017

INSURANCE

EIOPA publishes methodology to derive ultimate forward rate and its implementation

EIOPA has published a note on the methodology to derive the ultimate forward rate (UFR) and its implementation as required under the Solvency II Directive along with associated FAQs. EIOPA, 30 March 2017

 

INVESTMENTS AND FUNDS

Council of EU does not object to EMIR Delegated Regulations

The Council of the EU has published minutes in which it has decided not to object to Regulations concerning over-the-counter derivatives and packaged retail and insurance-based investment products. Council of the European Union, 5 April 2017

European Parliament publishes revised Delegated Regulation on RTS on key information document on PRIIPs

The European Parliament has published the provisional text of the resolution adopted in relation to the Delegated Regulation supplementing the Regulation on key information documents (KIDs) for packaged retail and insurance-based investment products by laying down Regulatory Technical Standards (RTS). European Parliament, 5 April 2017

ESMA final report - Guidelines on the calibration of circuit breakers and the publication and reporting of trading halts under MiFID II

ESMA has published its final report on guidelines on the calibration, publication and reporting of trading halts under MiFID II along with a final version of the guidelines. ESMA, 6 April 2017

ESMA Q&A s updated on the application of AIFMD and UCITS Directive

ESMA has published updated versions of its Q&A on the application of the Alternative Investment Fund Managers Directive and UCITS Directives. ESMA, April 2017

FCA clarifies information on AIFMD (Reporting) Instrument 2017

The FCA has clarified information for firms on the Alternative Investment Fund Managers Directive (Reporting) Instrument 2017 ahead of it coming into force. FCA, April 2017

Delegated Regulation exempting certain third-country central banks from MiFID II trade transparency requirements adopted

The Delegated Regulation (plus Annex) supplementing the Markets in Financial Instruments Regulation with regard to the exemption of certain third countries' central banks from pre- and post-trade transparency requirements has been adopted by the European Commission. The European Commission, April 2017

BoE publishes consultation paper on Shari'ah compliant fund-based deposit facility

The Bank of England has published a consultation on Shari'ah compliant liquidity facilities: establishing a fund-based deposit facility. Responses are required by 23 May 2017. The Bank of England, April 2017

FSB and IOSCO summary of roundtable on compensation practices in securities sector

The Financial Stability Board (FSB) and the International Organization of Securities Commissions (IOSCO) have published a summary  and takeaways of a roundtable on compensation practices in the securities sector held in Basel on 13 December 2016. FSB & IOSCO, 6 April 2017