Financial Regulation Weekly Bulletin - 02 May 2019

General

FSB plenary - FSB summarises discussions
FCA Feedback Statement FS19/2 - A duty of care and potential alternative approaches: summary of responses and next steps
Approach to Supervision - published by the FCA
FCA Discussion Paper DP19/2: Intergenerational differences
The future of financial conduct regulation – speech by FCA Chief Executive, Andrew Bailey
Complaints data - FCA publishes data for second half of 2018
FCA Handbook Notice No. 65 - includes six instruments making Brexit technical standards
Annual levy 2019/20 - announced by FSCS and Outlook newsletter published

Brexit

Bank of England and PRA Policy Statement PS5/19: The Bank of England’s amendments to financial services legislation under the European Union (Withdrawal) Act - supplemental version published
No-deal instruments - FCA publishes six more binding technical standards

Banking and Finance

Bank resolution planning - FSB publishes report on thematic peer review
CRR - amending Regulation on NPEs published in the Official Journal
Single Supervisory Mechanism - ECB Decision on annual fees published in the Official Journal
BRRD and SRM Regulation - European Commission adopts technical evaluation report
Inter-regional multilateral interchange fees - European Commission accepts Mastercard and Visa commitments
CRR II - EBA publishes Consultation Paper on four draft RTS on the standardised approach for counterparty credit risk
Payment institutions and e-money institutions - EBA publishes Opinion on passport notifications for agents and distributors located in another member state
EU colleges of supervisors - EBA publishes annual assessment for 2018
Mortgage Credit Directive - added to Interactive Single Rulebook by the EBA
Macro-prudential policy in the EU in 2018 - ESRB publishes report
Embracing Fintech - speech by Dave Ramsden, Bank of England Deputy Governor
Approach to concurrent stress testing - Bank of England publishes IEO evaluation and its response
ECL approach in IFRS 9 - PRA publishes ‘Dear CFO’ letter with thematic findings from written auditor reports
Systemic risk buffer - PRA sets rates for ring-fenced banks and large building societies

Securities and Markets

Retail CFDs and binary options - ESMA decision renewing restriction published in the Official Journal
EMIR - Delegated Regulation to extend the dates of deferred application of the clearing obligation for certain OTC derivative contracts published in the Official Journal
EMIR - Commission Implementing Decision on the equivalence of Japan published in the Official Journal
EMIR Refit - adopted by European Parliament at first reading
EMIR 2.2 - adopted by European Parliament at first reading
Proposed Regulation on disclosures relating to sustainable investments and sustainability risks - adopted by European Parliament at first reading
SME growth markets - adopted by European Parliament at first reading
CSDR - ESMA publishes translations for Guidelines on internalised settlement reporting
MiFID II/MiFIR - ESMA publishes liquidity assessment for bonds
Retail Distribution Review and Financial Advice Market Review - FCA issues call for input
Harm posed by wholesale market broking firms - FCA publishes ‘Dear CEO’ letter
Payment for order flow and conflicts of interest - FCA publishes final report
Retail CFDs and binary options - FCA Policy Statement delayed until summer
REMIT - CEER publishes note on accepted market practices in the energy sector
Deutsche Bank AG & ors v Unitech Global Ltd & ors
Ramona Ang v Reliantco Investments Ltd

Asset Management

Insurance

Outsourcing cloud computing - EIOPA hosts fourth InsurTech Roundtable
Supervisory activities - EIOPA publishes first annual report
EU-wide insurance sector stress test - EIOPA publishes recommendations from 2018 test
Fair treatment of with-profits customers - FCA publishes Thematic Review TR19/3 and a ‘Dear CEO’ letter

Enforcement

Contacts

Elizabeth Prentice (professional support lawyer)