Corrigendum to Delegated Regulation on RTS on presentation of investment recommendations and disclosure of conflicts of interest under MAR

A corrigendum to the text of the Delegated Regulation ((EU) 2016/958) supplementing the Market Abuse Regulation (Regulation 596/2014) with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest has been published in the Official Journal of the EU. EU, 27 April 2017

PRA Rulebook Administration Instrument (No.2) 2017

The PRA has published PRA Rulebook: Administration Instrument (No.2) 2017 (PRA 2017/16).  The majority of the amendments come into force on 2 May 2017, with the remainder coming into force on either 1 January 2018 or 1 January 2019. The amendments relating to the Regulatory Reporting Part in annex B will cease to have effect and be deleted on 31 December 2018. PRA, 27 April 2017

EBA letter to European Commission on its legislative proposals for revisions to CRR and CRD IV Directive

EIOPA has published a letter to the European Commission's Vice-President, Valdis Dombrovskis from Andrea Enria, EBA Chairman, relating to the Commission's legislative proposals for a Regulation amending the Capital Requirements Regulation (Regulation 575/2013) and for a Directive amending the CRD IV Directive (2013/36/EU).  Mr Enria refers to two opinions that the EBA has delivered on some specific aspects of the proposals relating to IFRS9 transitional arrangements and on improving decision making for supervisory reporting and explains that the letter complements those opinions by conveying the views of the supervisory community on several other aspects of the proposals, which are mainly a follow-up on previous advice delivered by the EBA.

Mr Enria believes that the EBA's advice has been well reflected in the new proposals, but he addresses in his letter further specific issues relating to the net stable funding ration (NSFR), leverage ratio (LR) and remuneration. EBA, 27 April 2017

BIS Speech: Financial soundness indicators

The Bank for International Settlements has published the text of a speech on financial soundness indicators by Mr Fernando Restoy, Chairman, Financial Stability Institute, BIS given at the Users' Workshop on Financial Soundness Indicators, International Monetary Fund, Washington DC. BIS, 27 April 2017


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Final text of the proposed Regulation on Money Market Funds

The Council of the EU has published the text (PE-CONS 59/16) of the proposed Regulation on Money Market Funds.  The adopted text states that the MMF Regulation shall apply from the date twelve months after the date of entry into force, with the exception of a number of Articles (that is, Articles 11(4), 15(7), 22 and 37(4)), which shall apply from the date of entry into force. EU, 27 April 2017

SONIA recommended as the sterling near risk-fee interest rate benchmark

The Bank of England's Working Group on Sterling Risk-Free Reference Rates – a group of major dealers active in sterling interest rate swap markets – has announced SONIA as its preferred near risk-free interest rate benchmark (RFR) for use in sterling derivatives and relevant financial contracts.

Bank of England, 28 April