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Showing 61 - 70 of 960 matches filtered by 'Banking and finance'

  • EBA releases outsourcing guidelines

    01/03/2019
    On 25 February 2018, after extensive consultation the European Banking Association (“EBA”) has published its latest set of guidelines (the “Guidelines”) relating to the outsourcing arrangements of those financial institutions that fall within its remit. The impetus of the Guidelines is intended to harmonise the approach of the financial institutions ...
  • Brexit update for financial services firms - week ending 22nd February 2019

    27/02/2019
    In outline: The regulatory arrangements in a no-deal scenario (the “ND Regime”) continued to be the main focus in the financial services (“FS”) sector. For a more detailed view of the different regulatory arrangements, see our updated no-deal database here. HM Treasury (“HMT”) published a revised policy note on the ...
  • Brexit - ESMA clarifies its position on trade reporting in a no-deal climate

    26/02/2019
    In a bid to clarify the reporting obligations of trading data following a no-deal Brexit, the European Securities and Markets Authority (“ESMA”) has published a statement providing guidance on how trading data between the United Kingdom and the European Union should be handled. Under the European Market Infrastructure Regulation (“EMIR”), ...
  • Brexit update for financial services firms - week ending 15 February 2019

    26/02/2019
    In outline: There was not a huge amount of financial services (FS) material published this week. The regulatory regime for a no-deal scenario (the ND regime) continues to be the main area of focus. Steven Maijoor gave a speech which provides a useful overview of ESMA’s preparations for the ND ...
  • Brexit - the Bank of Italy’ guidelines on information duties to the Italian customers by UK banks and financial institutions operating in Italy

    25/02/2019
    Along the lines of the letter to the market published by IVASS on October 3, 2018, on February 19, 2019 the Bank of Italy has published the guidelines on Brexit-related information duties to Italian customers by UK banks, payment institutions and e-money institutions, which currently provide services in Italy under ...
  • Brexit - ESMA puts in place no-deal memorandums of understanding with the Bank of England to recognise UK CCPS

    21/02/2019
    Last week, the European Securities and Markets Authority (“ESMA”) concluded Memorandums of Understanding (“MoUs”) with the Bank of England (“BoE”) on the recognition of central counterparties (“CCPs”) and the central security depository (“CSD”) established in the United Kingdom in the event of a no-deal Brexit. The disorderly close-out of positions ...
  • Brexit update for financial services firms - week ending 8 February 2019

    15/02/2019
    In outline: With the Withdrawal Agreement stand-off unresolved, the evolution of the regulatory regime for a no-deal scenario (the ND regime) continued. The flow of publications, however, has now slowed. Two further Memoranda of Understandings (MoUs) for the ND regime were concluded this week – these are between ESMA and ...
  • Removing head of legal from the senior managers regime and other changes: new FCA consultation paper CP 19/4

    13/02/2019
    The Financial Conduct Authority (“FCA”) recently released Consultation Paper CP19/4 setting out new measures set to “optimise” the Senior Managers and Certification Regime (“SMCR”). SMCR was introduced for banking firms in March 2016 and has since been introduced to the insurance sector in December 2018 and will be extended to ...
  • Brexit update for financial services firms - week ending 1 February 2019

    11/02/2019
    With the three-way stand-off between Westminster, HMG and the EU still unresolved at the start of February, announcements and publications in the financial services (FS) sector naturally focused on the no-deal regulatory regime (the ND regime). Absent a change in the Article 50 notice/period or the/a Withdrawal Agreement (WA) coming ...
  • The Asset Management Market Study: The FCA release Policy Statement on final remedies

    04/02/2019
    On 4 February 2019, the FCA issued Policy Statement (PS19/4 – Asset Management Market Study – Further Remedies), setting out their final set of rules and remedies under the long-standing Asset Management Market Study. PS19/4 is the last paper covering this major change for the asset management industry, following most ...