BANKING

FCA policy development update: December 2016

The FCA has updated the latest policy development update that was originally published in October 2016, this update summaries the FCA's future publications and highlights the changes that have been made since the FCA's previous publications schedule

FCA, 2 December 2016

FCA quarterly consultation 15

The FCA has published its 15th quarterly consultation paper, which seeks views on changes to its rules and guidance relating to a number of different parts of the FCA Handbook, including:

  • Pension projections for risk warnings.
  • Decision making changes relating to the Money Laundering Regulations.
  • Adviser charging for vertically integrated firms.
  • Changes to the Enforcement Guide and Decision Procedure and Penalties manual relating to the Co-operative and Community Benefit Societies Act 2014.

FCA, 2 December 2016

LSB new Standards of Lending Practice for business customers

The Lending Standards Board has published a press release announcing that it has been developing a new Standard of Lending Practice for business customers. These new Standards will replace the micro-enterprise provisions of the LSB's Lending Code and are due to be launched in the first quarter of 2017.

LSB, 2 December 2016

FSB Regional Consultative Group for Asia discusses macroprudential frameworks, financial technology and correspondent banking

The Hong Kong Monetary Authority hosed the eleventh meeting of the FSB Regional Consultative Group for Asia and have published a press release summarising the meeting.

FSB, 2 December 2016

EBA sees high NPL levels and low profitability as the main risks for EU banks

The EBA has published its ninth report on risks and vulnerabilities in the EU banking sector. The report is accompanied by the EBA's 2016 transparency exercise results, which provides essential data, in a comparable and accessible format, for 131 banks across the EU. EBA, 2 December 2016

Council of EU progress report on proposed EDIS Regulation and European Commission communication on completion of banking union

The council of the EU has published a report (dated 25 November 2016) from the Presidency to Delegations on both the proposed Regulation establishing the European deposit insurance scheme (EDIS) and the European Commission communication on completion of the banking union. The Council has also published a correction to the report.

Council of EU, 2 December 2016 I

NSURANCE

EIOPA is paving the way towards a European Recovery and Resolution Framework for Insurers

The European Insurance and Occupational Pensions Authority (EIOPA) has published a press release and a Discussion Paper on Potential Harmonisation of Recovery and Resolution Frameworks for Insurers.

EIOPA, 2 December 2016

INVESTMENTS AND FUNDS

New FCA webpage for firms subject to MiFID II transaction reporting obligations

The FCA has published a new webpage for firms subject to transaction reporting obligations under the MiFID II Directive and the Markets in Financial Instruments Regulation (MiFIR)

FCA, 2 December 2016

Implementing Regulation on ITS for reporting results of internal approach calculations under CRD IV published in OJ

Commission Implementing Regulation (EU) laying down implementing technical standards (ITS) for templates, definitions and IT-solutions to be used by institutions when reporting to the EBA and to competent authorities has been published in the OJ. The Implementing Regulation will enter into force on the 22 December 2016.

Official Journal of the EU, 2 December 2016

Council of EU announces final compromise text of MMR Regulation

The Council of the EU has published a note (dated 30 November 2016) setting out the final compromise text of the proposed Regulation on Money Market Funds (MMF Regulation).

Council of the EU, 2 December 2016

Speech by ESMA Executive Director at the 2016 Global Capital Markets Conference

The European Securities and Markets Authority’s (ESMA) Executive Director, Verena Ross, today spoke at the ICI Global’s 2016 Global Capital Markets Conference giving a broad ranging view of how ESMA’s work contributes to strengthening Europe’s capital markets. ESMA, 2 December 2016