FOS ombudsman news issue 140
The Financial Ombudsman Service has published issue 140 of ombudsman news. The new issue includes case studies displaying how the service is working increasingly flexibly, and putting its expertise and experience at the heart of its investigating.
Financial Ombudsman Service, 4 April 2017
Payment System Operator Delivery Group recommendations and implementation plan on proposed consolidation of governance of three payment system operators
The Payment Systems Regulator has updated its webpage on the Payment System Operator Delivery Group. The PSODG was established in October 2016, set up to consider key issues relating to potential consolidation of the governance of Bacs Payment Schemes Ltd, Cheque and Credit Clearing Company Ltd and the Faster Payments Scheme Ltd.
Payment Systems Regulator, 4 April 2017
BCBS final guidelines on prudential treatment of problem assets: definitions of non-performing exposures and forbearance
The Basel Committee on Banking Supervision has published its final guidelines on the prudential treatment of problem assets, and sets out the definitions of non-performing exposures and forbearance.
Basel Committee on Banking Supervision, 4 April 2017
House of Commons Exiting the European Union Committee report on Brexit white paper: financial services aspects
The House of Commons Exiting the European Union Committee has published a report which considers the government's negotiating objectives for Brexit, as set out in the white paper, and the 12 objectives for negotiations set out in Theresa May's Lancaster House speech.
The House of Commons Exiting the European Union Committee, 4 April 2017
ECB explanatory note on co-existence of proposed TIPS service with other instant payment services
The European Central Bank has published an explanatory note to address questions raised during its consultation on the user requirements for the proposed TIPS service, launched January 2017, and its the co-existence with other instant payment services.
European Central Bank, 4 April 2017
FCA Enforcement and Market Oversight Director considers SMR and the expanding scope of individual accountability for corporate misconduct
The FCA has published a speech by Mark Steward, FCA director of enforcement and market oversight, on the expanding scope of individual accountability for corporate misconduct in the UK. Through the speech recent developments in the UK in this area are considered, most notably the senior managers regime, which he believes marks an important and decisive shift in the right direction in tackling conduct issues.
FCA, 3 April 2017
FPC record of 22 March 2017 meeting
The Bank of England has published the record of its Financial Policy Committee meeting from 22 March 2017. The record summarises the discussions and outlines the latest progress made on implementing the FPC's existing recommendations and directions.
Bank of England, 4 April 2017
HM Treasury's regulatory innovation plan for financial services sector
HM Treasury has published a regulatory innovation plan for the financial services sector. The plan covers the work of the financial services regulators in ensuring their approach to regulation supports innovation, facilitating the development of new technologies and disruptive business models in financial services, while breaking down barriers to entry and boosting productivity in financial services.
HM Treasury, 4 April 2017
INVESTMENTS AND FUNDS
ESMA updates MiFID II Q&A on investor protection (April 2017)
ESMA has published an updated version of its questions and answers on investor protection topics under the MiFID II Directive and the Markets in Financial Instruments Regulation. The new version includes updates to the best execution and inducements (research) sections.
ESMA, 4 April 2017
ESMA consults on revisions to guidelines on CRA Regulation endorsement regime
ESMA has published a consultation paper on revisions to its guidelines on the application of the endorsement regime under Article 4(3) of the CRA Regulation, which sets out a mechanism that allows credit ratings issued in a third country to be treated as a credit rating issued by a registered credit rating agency. This means that EU financial institutions may use these ratings for regulatory purposes.
ESMA, 4 April 2017