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Showing 1 - 10 of 958 matches filtered by 'Banking and finance'

  • EMIR Initial Margin: Intragroup transactions exemptions

    08/11/2019
    As derivative counterparties begin to look ahead to the implementation of Phase 5 and 6 of the EMIR initial margin rules in September 2020 and 2021 (respectively), there are a number of exemptions in relation to transactions entered into with an undertaking within the same “group” that may be relevant. Such exemptions remove the requirement to exchange initial margin amongst counterparties in the same...
  • Brexit update for financial services firms - from 26 October 2019 to 1 November 2019

    04/11/2019
    This week put Brexit preparations on the back-burner as the Article 50 exit date was put back and the ratification of the revised Withdrawal Agreement (“WA”) by the UK Parliament was abandoned in favour of a general election. We will therefore be pausing our weekly email commentary until the New Year. The Article 50 extension (see Document 5 below) delays the UK's exit until 11.00 pm GMT on 31st...
  • Can Insurtech offer a solution to the findings of the FCA's general insurance pricing practices market study?

    30/10/2019
    FCA interim report – general insurance pricing practices market study Earlier this month the FCA published the interim report (MS18/1.2) of its Market Study on General Insurance Pricing Practices, considering concerns relating to pricing practices in the home and motor insurance markets (see our previous article on the report for further details
  • Brexit update for financial services firms - from 19 October 2019 to 25 October 2019

    29/10/2019
    Commentary This week saw the publication, and start of the UK’s legislative process for, the long-awaited bill to ratify and implement the EU/UK Withdrawal Agreement (“WA”). The revised WA was published on 19th October (for our commentary and links to publications about the revised WA package – see below. The WA is very largely unchanged from the version negotiated by Mrs. May except for the Protocol...
  • Brexit news for financial services firms- - from 12 October 2019 to 18 October 2019

    24/10/2019
    Commentary This week saw the successful conclusion of negotiations over the revised Withdrawal Agreement (“WA”) (see Document 2 below) and the Queen’s Speech (see Document 1 below). However, the outcome of the Brexit process remains uncertain and the new domestic legislative program is overshadowed by the prospects of a general election.
  • Applications to cohort 6 of the FCA's regulatory sandbox now open

    24/10/2019
    The FCA has opened its application process for firms wishing to join cohort 6 of its regulatory sandbox (“Sandbox”). The FCA will be accepting applications from now until 31 December 2019. 
  • FCA sets out cryptoasset business registration and fee requirements

    16/10/2019
    On 15 October 2019, the Financial Conduct Authority (“FCA”) published consultation paper CP19/29: Recovery of costs of supervising cryptoasset businesses under the proposed anti-money laundering regulations: fee proposals (“CP19/29”).  
  • Brexit news for financial services firms - from 5 October 2019 to 11 October 2019

    15/10/2019
    Commentary Writing on the weekend of 11/12th October and as the Hallowe’en deadline approaches, it seems to get more, rather than less, difficult to predict the Brexit flightpath and the ultimate destination. Of the multitude of possibilities, virtually none, if any, can now be ruled out. The UK may or may not leave the EU. If it leaves, it may do so under an Article 50 Withdrawal Agreement (WA)...
  • FCA consulting on discretionary commission models and disclosure in motor finance

    15/10/2019
    Following the publication in March this year of the findings from its review of the motor finance sector, the FCA has today opened a consultation on plans to: implement a ban on discretionary commission arrangements in the motor finance sector; and update the commission disclosure requirements in the Consumer Credit Sourcebook (“CONC”), part of the FCA handbook, for all providers of consumer...
  • EBA comments on the implementation of its new Outsourcing Guidelines

    14/10/2019
    EBA says progress has been slow and more needs to be done by banks to be operationally resilient and resolution ready.