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Showing 61 - 70 of 1186 matches filtered by 'Banking and finance'

  • SFDR: Commission delays Level 2 RTS by a further 6 months

    The European Commission (the Commission) has notified the European Parliament and the European Council of a further 6 month delay to the application of the Level 2 regulatory technical standards (Level 2) under SFDR. This means that the implementation date has been pushed back from the already delayed date of ...
  • Poland: Solvency II Directive review brings changes for insurance and reinsurance undertakings

    The European Commission has reviewed Solvency II Directive[1] and provided amendments to this directive[2] ("Draft”)[3]. The proposed changes in this Draft aim to further strengthen the insurance sector and to encourage insurance undertakings to adopt long-term sustainable financing of the economy. This means that insurance and reinsurance undertakings should prepare ...
  • Focusing on Funds – The Long-Term Asset Fund (LTAF)

    This Focusing on Funds looks at the new LTAF regime that takes effect today. The LTAF, a new category of UK authorised collective investment scheme, is intended to promote investment by professional investors (including pension funds) and sophisticated investors in long-term, illiquid assets. Why is this relevant to fund managers? ...
  • Bank of England issues statement on Central Bank Digital Currency next steps

    The Bank of England and HM Treasury have issued a joint statement outlining the next steps on the exploration of a UK Central Bank Digital Currency (CBDC). This statement is welcomed and indicates the UK’s commitment to pursuing and potentially implementing digital currencies. Numerous other countries, including Nigeria and the ...
  • Greening Finance: A Roadmap to Sustainable Investing

    The Roadmap outlines HM Treasury’s ambitious plan to transform the UK’s financial system – aiming to align it with the Government’s net zero commitment and making the UK a world leader in green finance and sustainable investing. What is the Roadmap? On 18 October 2021, the UK Government released its ...
  • Regulation of Buy-Now Pay-Later products fast approaching

    HM Treasury has published the highly anticipated consultation paper (“CP”) setting out policy options to achieve a proportionate approach to regulation of buy-now-pay-later (“BNPL”) products. Earlier this year, HM Treasury announced its intention to bring interest-free BNPL products within the FCA’s perimeter after the Woolard Review highlighted the probable risk ...
  • Polish FSA issues statement on improper practices in insurance distribution

    In response to irregularities in the application of the Polish Act on Insurance Distribution (implementing an EU Directive) uncovered during audits, the Polish Financial Supervision Authority (PFSA) issued a statement on 1 October 2021, which outlines recommendations in response to crucial distribution issues. The Statement is addressed to insurance undertakings ...
  • Luxembourg: New CSSF Circular on the new EBA guidelines on AML/CTF risk factors

    On 24 September 2021, the CSSF released its Circular 21/782 which (i) provides information on the EBA Guidelines (the “GL”) on customer due diligence (the “CDD”) and the factors credit and financial institutions should consider when assessing the money laundering and terrorist financing (“ML/TF”) risk associated with individual business relationships ...
  • Belgium introduces new insurance industry client money and risk transfer rules

    Belgium recently amended legislation on client money rules applicable to Belgian insurance intermediaries, bringing the law in line with regulations found in the EU's Insurance Distribution Directive (IDD), although the rules still contain gaps regarding reinsurance contracts. For years, Belgian insurance law provided for a general regime of risk transfer ...
  • Singapore and UK strengthen cooperation in financial services

    Introduction On 30 June 2021, Singapore and the UK entered into a landmark partnership for cooperation on financial services (Financial Partnership) at the sixth UK-Singapore Financial Dialogue (Financial Dialogue).[1] The Financial Partnership, which follows shortly after the Joint Political Statement on the Singapore-UK Partnership for the Future on 4 March ...