FCA policy statement and final rules on changes to MCOB relating to mortgage borrowers with a payment shortfall

The FCA has published a policy statement on two minor amendments to the Mortgages and Home Finance Conduct of Business sourcebook. An appendix to the sourcebook contains the final version of the Mortgage and Home Purchase Plan Payment Shortfalls Instrument 2016.

FCA, 14 December 2016

FOS complaints data publication

The Financial Ombudsman Service has published a feedback statement on its consultation on how it published complaints data.

FOS, 14 December 2016

House of Lords EU Committee on financial services relating to Brexit: oral and written evidence

The House of Lords EU Financial Affairs Sub-Committee has published the written and oral evidence is has received in response to questions on the future of financial services in the UK following the Brexit vote. The evidence includes responses from HM Treasury, FCA and The Association of Foreign Banks.

House of Lords EU Committee, 14 December 2016

EBA Final draft Regulatory Technical Standards

The European Banking Authority has issued the final draft regulatory technical standards on passport notifications under the revised Payment Services Directive. They have also published a flowchart which provides a guide to competent authorities on which notification templates to use.

EBA, 14 December 2016

Final report on MREL

The European Banking Authority has published its final report on the minimum requirement for own funds and eligible liabilities (MREL), together with a set of FAQs.

EBA, 14 December 2016

EBA publishes final guidelines on revised Pillar 3 disclosures

The European Banking Authority has published its final Guidelines on regulatory disclosure requirements following an update of the Pillar 3 requirements by the Basel Committee in January 2015. These Guidelines represent a significant step forward in the EBA's effort of improving and enhancing the consistency and comparability of institutions' regulatory disclosures. EBA, 14 December 2016

Council of EU Presidency compromise proposal on MLD5 dated 13 December 2016

The Council of the EU has published its fourth Presidency compromise proposal on the proposed Firth Money Laundering Directive, which amends the Fourth Money Laundering Directive.

Council of the EU, 14 December 2016  


FCA consults on review of FSCS funding

The FCA has published a consultation paper on reviewing the funding of the Financial Services Compensation Scheme (FSCS). The FCA discuss a range of options on changes to the funding of the FSCS and the coverage its protection of the following:

  • Professional indemnity insurance market
  • Product provider contributions
  • Funding classes for intermediation activities
  • Risk-based levies
  • Pensions freedoms

The deadline for responses to this consultation is 31 March 2017

FCA, 14 December 2016