General
- ESFS omnibus proposal - ECON tables three reports for plenary
- ESFS Omnibus proposal - HM Treasury updates Parliamentary Committees, suggesting that progress is more likely on the AML part of the text
- Seven awkward questions (in the light of the PRA’s secondary competition objective) - speech by Sam Woods, CEO of the PRA
- PRA Policy Statement PS2/19 - Regulatory transactions: changes to notification and application forms
- Financial access for (vulnerable) consumers - FCA’s written evidence to Treasury Committee inquiry
- Online portal for mutual societies - launched by the FCA
- Survey of smaller firms - announced in FCA Regulation round-up
Brexit
- The Credit Institutions and Insurance Undertakings Reorganisation and Winding Up (Amendment) (EU Exit) Regulations 2019
- Draft Financial Services Contracts (Transitional and Saving Provision) (EU Exit) Regulations 2019 - laid before Parliament
- Draft Equivalence Determinations for Financial Services and Miscellaneous Provisions (Amendment etc) (EU Exit) Regulations 2019 - laid before Parliament
- Draft Uncertificated Securities (Amendment and EU Exit) Regulations 2019 - laid before Parliament
- Draft Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2019 - published by HM Treasury
- Banking, insurance and other financial services - HM Treasury updates ‘no-deal’ technical notices
- EU legislative proposals - retained under scrutiny by the European Scrutiny Committee
- REMIT and ‘no-deal’ - ACER publishes open letter
Banking and Finance
- Minimum capital requirements for market risk - Basel Committee endorses framework revisions
- Principles for sound liquidity risk management and supervision - Basel Committee completes review
- Work programme 2019-20 - published by Basel Committee
- Evaluation of the Consumer Credit Directive - European Commission launches consultation
- Benchmarking national loan enforcement frameworks - European Commission calls for advice from the EBA
- Minimum loss coverage for NPEs - indicative plenary sitting on 13 March 2019
- Cost and past performance of structured deposits - EBA publishes report
- CRR - EBA publishes final Guidelines on the exposures to be associated with high risk
- MREL - SRB publishes second part of 2018 policy statement (for the most complex banking groups)
- ECB’s position regarding access to banking supervision documents and information - European Court of Auditors publishes Communication
- Deposit guarantee schemes - EFDI publishes stress testing status report
- SME finance - FCA and government respond to Treasury Committee report
- Disclosures about IFRS 9 expected credit losses - PRA publishes ‘Dear CFO’ letter
- FCA’s oversight of the IRHP compensation scheme - Complaints Commissioner publishes addendum to final report expressing concern about the FCA’s reconsideration of the complaint, and the FCA takes unusual step of disagreeing
- Munroe K Ltd & Anor v Bank of Scotland Plc
- Case C-219/17 Berlusconi and another v Banca d'Italia and another
- Case C-389/17 Paysera LT (UAB ‘EVP International’ v Lietuvos bankas)
Securities and Markets
- Low carbon and positive carbon impact benchmarks - ECON tables report for plenary
- Costs and performance of retail investment products - ESMA publishes report
- MAR - ESMA publishes annual report on accepted markets practices
- Suspicious transaction and order reporting - FMSB publishes statement of good practice for FICC Market participants
Asset Management
- Money Market Funds Regulation - CBI and CSSF extend deadline for all share cancellation mechanisms to have ceased by two months
Insurance
- Costs and past performance of insurance and pension products - EIOPA publishes report
- Solvency II - EIOPA publishes call for evidence on the integration of sustainability risks in investment and underwriting practices
- Over 50s Life Cover - FCA warns over misleading financial promotions
Financial Crime
- Exchange of information under 4MLD - ESAs approve multilateral agreement between ECB and NCAs
- Economic Crime Strategic Board - launched by UK government
- Suspicious activity reports - NCA publishes Annual Report 2018
- Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 - JMLSG amends AML and CTF Guidance
Enforcement
- Acting without integrity and failing to deal with the FSA in an open and cooperative way - FCA imposes largest ever fine on an individual
Contacts
Elizabeth Prentice (professional support lawyer)
