BANKING

Mark Carney: G20 is building an ‘efficient and resilient system’

The Financial Stability Board has published an article highlighting the progress of banking reform in the ten years after the start of the financial crisis.

Financial Stability Board, 9 August 2017

Bank of England's approach to conflicts of interest

The Bank of England has published a document outlining its approach to identifying and managing conflicts of interest.The Bank of England, August 2017

OFSI financial sanctions guidance updated

The Office of Financial Sanctions Implementation (OFSI) has revised its guidance on financial sanctions. It outlines obligations under financial sanctions as well as OFSI’s approach to licensing and compliance issues.

OFSI / HM Treasury, 8 August 2017

 

European Commission inception impact assessment on broadening law enforcement access to centralised bank account registries

The European Commission has called for feedback on its roadmap on widening access to centralised bank and payment account registries.

European Commission, 9 August 2017

 

PRA letter: Firms' Brexit contingency planning

A letter has been published from Sam Woods, Deputy Governor and CEO of the Prudential Regulation Authority to Nicky Morgan, Chair of the Treasury Committee providing information in relation to firm's contingency plans for Brexit.

House of Commons Treasury Committee, 9 August 2017

 

INSURANCE

Insurance Europe: PRIIPs provisions that require clarification at Level 3

Insurance Europe has published a document welcoming the ongoing efforts of the European Commission (EC) and the European Supervisory Authorities (ESAs) in providing guidance for the implementation of the revised Regulatory Technical Standards for the Packaged Retail Investment and Insurance Products (PRIIPs) Regulation. It says that several clarifications are still required in upcoming batches of ESAs Q&As to ensure that the industry has the necessary degree of legal certainty to appropriately implement its various provisions. Insurance Europe, 9 August 2017 INVESTMENTS AND FUNDS FCA publishes Q&As on MiFID II commodity derivatives

The FCA has published a set of Q&As to assist in preparation for MiFID II implementation containing information on position limits and position reporting for commodity derivatives.

FCA, 9 August 2017

FCA MiFID II applications and notifications webpage updated

The MiFID II Directive applications and notifications webpage has been updated by the FCA.

FCA, 8 August 2017