Includes developments in relation to: authorisations; changes in control; Big Tech; SDR; greenwashing; REUL; climate-related disclosure; CRR; SRM compensation; European single access point; IFPR; PRIIPS and UCITS; DLT; and cryptoasset transfers.

Click on the headings below to access each section:

General

  • Performance and accountability of Bank of England - House of Lords Committee makes recommendations
  • The PRA’s authorisations function - speech delivered
  • Assessments of changes in control - PRA and FCA launch consultation (CP25/23 and CP23/23)
  • Impact of data asymmetry between Big Tech and financial services firms - FCA calls for input
  • SDR, investment labels and anti-greenwashing rule - FCA publishes Policy Statement (PS23/16) and Guidance Consultation (GC23/3)
  • Regulatory Initiatives Grid - seventh edition published with new section on repeal of REUL

Banking and Finance

  • Disclosure of climate-related risks - BCBS launches consultation
  • Materiality of extensions and changes to the market risk internal models under CRR - EBA launches consultation (EBA/CP/2023/36)
  • ACMO Sàrl and other v Single Resolution Board, (Case T 330/20) EU:T:2023:733

Securities and Markets

  • The Short Selling (Notification Threshold) Regulations 2023
  • Draft Securitisation Regulations 2023 published
  • Draft Public Offers and Admissions to Trading Regulations 2023 published

Asset Management

  • European single access point - legislative package formally adopted
  • IFPR implementation - FCA publishes final report
  • Capital deduction for redress for personal investment firms - FCA consults (CP23/24)
  • Forbearance measures for communications in relation to PRIIPs and UCITS - FCA publishes statement
  • Fund tokenisation in UK asset management - report published

Financial Crime

  • Guidelines on preventing abuse of funds and cryptoasset transfers - EBA consults

Enforcement

  • Anti-competitive conduct - FCA fines three money transfer firms