Since our last publication, the FCA has published its Mission Statement, Business Plan, Fees Consultation and Sector Views document, which highlight the issues and developments the FCA sees in the sector it regulates. In other news, the FCA has published a consultation paper on the implementation of PSD2 and the Payment Systems Regulator has published a consultation paper on its approach to monitoring and enforcing under PSRs 2017. 




The FCA publishes its Mission and Business Plan, Fees Consultation and Sector Views document

The FCA has published its Mission Statement, Business Plan 2017/18, its Fees Consultation 2018/18 (with responses sought by 9 June 2017) and a new document entitled Sector Views, giving firms and consumers greater clarity about how its interventions in financial markets are prioritised. These documents are important across senior management, business units and control functions.

FCA, 18 April 2017


FCA consults on implementation of PSD2

The FCA has published a consultation paper on the implementation of the revised Payment Services Directive 2015/2366, which must be implemented by EU member states by 13 January 2018.

FCA, 13 April 2017


PSR consults on approach to monitoring and enforcing under PSRs 2017

A consultation paper has been published by the Payment Systems Regulator on its approach to monitoring and enforcing the regulations that it is responsible for under the draft Payment Service Regulations 2017.

PSR, 13 April 2017


CAP publishes guidance on the presentation of terms and conditions for promotional marketing

The ASA has issued guidance on the use of terms and conditions in promotional marketing, such as "two for the price of one" offers, money-off offers, text-to-wins, instant-wins, competitions and prize draws. The guidance reiterates and interprets the rules in section 8 of the CAP Code on Promotional Marketing, illustrating the ASA's approach by reference to specific rulings.

ASA, 6 April 2017


FCA feedback on first round of annual conduct meetings and how firms are addressing the five conduct questions

The FCA has published new webpages following its first round of annual conduct meetings, aimed at helping understand how firms have considered the FCA's five conduct questions and the measures being taken taking to improve conduct in their firms.

FCA, 12 April 2017


FCA update on Benchmarks Regulation

The FCA has published an update on the Benchmarks Regulation on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds (Regulation (EU) 2016/1011).

FCA, 12 April 2017


FCA Occasional Paper on behavioural insights into financial product advertising

The FCA has published an occasional paper summarising a large body of academic literature to explore the mechanisms behind consumer attention, understanding and behaviour. The behaviour of consumers is divided into three stages: See, Interpret and Act. The FCA then apply the findings by looking at what the science says about an advert that may be unclear, unfair or misleading.

FCA, 12 April 2017


FCA speech on the next phase of Project Innovate

The FCA has published a speech by Christopher Woolard, FCA Executive Directive of Strategy and Competition, about what the next phase of Project Innovate will involve. Project Innovate aims to tackle regulatory barriers to allow firms to innovate in the interest of consumers. FCA, 10 April 2017


FSB consults on proposed framework for post-implementation evaluation of G20 financial regulatory reforms

The Financial Stability Board has published a consultation document on the key elements of the proposed framework for the post-implementation evaluation of the effects of the G20 financial regulatory reforms, which is intended to guide analyses of whether the core reforms are achieving their intended outcomes

FSB, 11 April 2017


Minutes of FCA board meeting on 22 and 23 February 2017

The FCA has published the minutes of its board meeting on 22 and 23 February 2017.

FCA, 13 April 2017



Final text of resolution on finalisation of Basel III as adopted by European Parliament

The European Parliament published the final version of the text of the resolution it has adopted on finalisation of Basel III, to update the provision version of the text it published in November 2016. No changes have been made to the provisional text.

European Parliament, 11 April 2017


ECB Guideline on less significant institutions published in the Official Journal

A guideline and recommendation have been published by the ECB on the exercise of options and discretions available in European Union law by national competent authorities in relation to less significant institutions in the Official Journal of the EU.

ECB, 13 April 2017


European Parliament extends scrutiny period for Commission Delegated Regulation amending list of high-risk third countries under MLD4

The European Parliament has updated its procedure file on the Commission Delegated Regulation amending Commission Delegated Regulation 2016/1675 supplementing the Fourth Money Laundering Directive 2015/849.

European Parliament, 13 April 2017


ECB publishes FAQs for banks considering relocating to euro area in context of Brexit

The European Central Bank (ECB) has published a new webpage with FAQs covering procedures for the relocation of banks to the euro area in the context of Brexit. According to the webpage, the ECB and several national supervisors have been approached by banking groups with questions about the supervisory approach in the euro area and ECB Banking Supervision requirements for banks potentially relocating business. ECB, 12 April 2017


Corrigendum on the Single Resolution Mechanism and Fund Regulation

A corrigendum has been issued by the Council of the European Union which corrects an error in Regulation (EU) 806/2014, which establishes uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Resolution Fund and amending Regulation (EU) 1093/2010.

Council of the European Union, 11 April 2017