Financial Regulation Weekly Bulletin - 21 March 2019

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General

ESFS omnibus proposal - political agreement reached between the Council of the EU and the European Parliament
Failure of London Capital and Finance - Treasury Committee requests consideration of a statutory investigation

Brexit

The Financial Services (Distance Marketing) (Amendment and Savings Provisions) (EU Exit) Regulations 2019
The Financial Regulators’ Powers (Technical Standards etc.) and Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2019
The Electricity and Gas (Market Integrity and Transparency) (Amendment) (EU Exit) Regulations 2019
The Counter-Terrorism (Sanctions) (EU Exit) Regulations 2019
The Counter-Terrorism (International Sanctions) (EU Exit) Regulations 2019
MiFID II/MiFIR - FCA publishes Supervisory Statement on pre- and post-trade transparency regime
Brexit and beyond - Speech by Nausicaa Delfas
EU no-deal contingency planning - Council of the European Union adopts non-objection Decisions
Endorsement of UK credit ratings - ESMA publishes statement that foreseen UK regime meets conditions
ESMA’s data operational plan under a no-deal Brexit - ESMA publishes statement
No-deal Brexit - EBA agrees template for MoU with FCA and PRA

Banking and Finance

Proportionality in bank regulation and supervision - Basel Committee publishes report on survey results
Basel III - Basel Committee publishes results of latest monitoring exercise
PSD2 - Implementing Regulation and Delegated Regulation published in the Official Journal
Macroprudential policy measures - ESRB Recommendation published in the Official Journal
Capital Markets Union - European Commission publishes Communication
Minimum loss-coverage for NPEs - European Parliament publishes provisional text of legislative resolution
Credit servicers, credit purchasers and the recovery of collateral - procedure file updated to show indicative plenary sitting date
Supervisory Review and Evaluation Process - EBA publishes annual report on supervisory convergence
PSD2 - EBA launches central register on payment and e-money institutions
Risk indicators and analysis tools - EBA publishes updated Guidance
Single Supervisory Mechanism - ECB publishes 2018 annual report on supervisory activities
Sterling risk-free rates - Bank of England working group publishes Discussion Paper on SONIA market conventions
PRA Consultation Paper CP6/19 - Pillar 2 liquidity: updates to the framework
What can the consumer credit sector expect from the FCA - speech by Jonathan Davidson
FCA Thematic Review TR19/01: Debt management sector
Review of PSR Directions issued under the Financial Services (Banking Reform) Act 2013 - PSR publishes Policy Statement and consultation
Case C-118/17 Zsuzsanna Dunai v ERSTE Bank Hungary Zrt

Securities and Markets

Principles for financial market infrastructures - CPMI and IOSCO report on the current status of level 1 assessments
MiFID II/MiFIR - Commission Delegated Regulation published in the Official Journal
Prospectus Regulation - European Commission publishes two Delegated Regulations
BMR - European Commission publishes draft equivalence Decisions in relation to Singapore and Australia
EMIR 2.2 - Council of the EU publishes compromise texts and invites COREPER to approve
Prudential requirements for investment firms - Council of the EU publishes compromise texts for IFD and IFR
Crowdfunding service providers - procedure file updated to show indicative plenary sitting date
MiFID II/MiFIR - ESMA publishes results of annual LIS and SSTI thresholds for bonds
EMIR 2.2 - ECB withdraws Recommendation for a Decision amending Article 22 of the Statute on the ESCB and the ECB
Euro risk-free rates - EMMI publishes Consultation Paper on the recommendations for the transition from EONIA to €STR

Asset Management

Cross-border distribution of collective investment funds - HM Treasury updates the European Scrutiny Committee

Insurance

Financial Crime

EU blacklist of AML/CTF high-risk third countries - European Commission publishes provisional text of resolution
AML/CTF - JMLSG launches consultation on revisions to Sectors 4 and 20 of Guidance
MiFID transaction reporting failures - FCA fines UBS AG £27.6m

Enforcement

Contacts

Elizabeth Prentice (professional support lawyer)