Banking & finance

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Regzone Webinar Series
19.10.2020

This page contains news of upcoming webinars and recordings of recent CMS webinars, available to view on demand. Webinars are a convenient way to stay informed and hear from our legal experts. Webinars available on demand 04.02.2020 Operational Resilience: What are your tolerances? with Angela Greenough, Ian Stevens and Cassandra ...
Reinsurance: COVID-19 – where are we now?
15.10.2020

At different stages in the COVID-19 pandemic, we have considered the impact on the reinsurance market. Most recently (see our Law-Now), we considered the likely implications of the “second wave”, a concern which has sadly moved from the realms of speculation to reality. The impact on the upcoming renewal season ...
ISDA launches IBOR Fallbacks Supplement and Protocol: next steps and issues
14.10.2020

ISDA has published a statement from its Board of Directors announcing that on 23 October 2020 it will launch the ISDA 2020 IBOR Fallbacks Protocol and IBOR Fallbacks Supplement to the 2006 ISDA Definitions. The effective date of the Protocol and the Supplement is 25 January 2021. From this date, ...
CMS expert guide to Anti-Money Laundering and Counter Terrorist Financing in CEE
07.10.2020

In order to maintain the integrity of financial markets and prevent corruption and terrorism, governments must take a robust approach to money laundering and terrorist financing in step with a coordinated global strategy. The European Commission and other international organisations have issued directives and guidances with standard rules and regulations ...
FCA Update and Guidance following judgment in the Business Interruption Insurance Test Case
16.09.2020

The much-awaited decision in the FCA’s High Court test case in relation to non-damage business interruption (BI) insurance policies and their response to the COVID-19 pandemic was published yesterday (15th September 2020) (the Judgment). The 162 page decision is indicative of the degree of complexity that the Judges found in ...

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Agency Database

Italian Securities and Exchange commission

Term:

Italian Securities and Exchange commission

Other Names:

CONSOB

Definition:

Responsible for regulating the Italian securities market.

Area:

Type:

Regulator

Country:

Italy

URL:

http://www.consob.it/
Insurance Institute of Portugal

Term:

Insurance Institute of Portugal

Other Names:

Instituto de Seguros de Portugal (ISP)

Definition:

National authority responsible for regulation and supervision, either prudential or conduct, for insurance, reinsurance, pension funds and their management companies.

Area:

Type:

Regulator

Country:

Portugal

URL:

http://www.isp.pt/en
Institute for the supervision of insurance (IVASS)

Term:

Institute for the supervision of insurance (IVASS)

Other Names:

Istituto per la Vigilanza sulle Assicurazioni

Definition:

Supports the Bank of Italy in its supervisory function financial institution, particularly insurance firms.

Area:

Type:

Regulator

Country:

Italy

URL:

http://www.ivass.it/ivass/imprese_jsp/HomePage.jsp
Insurance Commission

Term:

Insurance Commission

Other Names:

Commissariat aux Assurances

Definition:

Official body in Luxembourg charged with the supervision of the insurance sector.

Area:

Type:

Regulator

Country:

Luxembourg

URL:

http://www.commassu.lu/
Netherlands Authority for the Financial Markets

Term:

Netherlands Authority for the Financial Markets

Other Names:

AFM

Definition:

Area:

Type:

Regulator

Country:

Netherlands

URL:

http://www.afm.nl/en
Slovenian Bank Association

Term:

Slovenian Bank Association

Other Names:

Združenje bank Slovenije (ZBS)

Definition:

Area:

Type:

Trade Association

Country:

Slovenia

URL:

http://www.zbs-giz.si/en/
Surveillance of the Financial Sector Commission

Term:

Surveillance of the Financial Sector Commission

Other Names:

Commission de Surveillance du Secteur Financier (CSSF)

Definition:

Responsible for financial regulation in Luxembourg. The competent authority for the authorisation and supervision of payment institutions (article 20); and MiFID.

Area:

Type:

Regulator

Country:

Luxembourg

URL:

http://www.cssf.lu/en/
Swiss National Bank

Term:

Swiss National Bank

Other Names:

SNB

Definition:

Conducts monetary policy; ensures price stability.

Area:

Type:

Regulator

Country:

Switzerland

URL:

http://www.snb.ch/en/

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Latest sector news

23.10.2020
FCA: PS20/11: Removing barriers to intra-group switching and helping borrowers with maturing interest-only and part-and-part mortgages
Further to CP20/13, FCA has published this PS. It confirms a new rule that will make it easier for lenders to offer switching options to...
consumers who are in a closed book within the same financial group and provides guidance to help borrowers with interest-only and partial capital repayment (part-and-part) mortgages whose mortgages have matured since 20 March 2020 or will do so in the next 12 months, given the impact of the Covid-19 pandemic. The rule will come into force from 23 October 2020. The guidance will come into force from 31 October 2020.
Supporting links:
- Link 1
- Link 2
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23.10.2020
FMLC: Payments landscape review
FMLC has published its response to HMT’s call for evidence. It raises concerns with regard to legal uncertainties which may arise in relation to DLT-based...
innovation in the area of payments systems.
Supporting links:
- Link 1
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23.10.2020
FMLC: LIBOR transition – issues of legal uncertainty
FMLC's report considers areas of legal uncertainty with regard to LIBOR transition, including Brexit related uncertainties and offers a survey of the specific ways in which...
it may be possible to mitigate the legal uncertainties.
Supporting links:
- Link 1
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23.10.2020
FCA: Handbook Notice 81
FCA has published details of instruments passed at its Board meetings on 22 July, 30 September 2020 (additional to those already announced in previous Handbook Notices)...
and 22 October 2020.. These are: Conduct of Business (Cryptoasset Products) Instrument 2020/34; Conduct of Business (Cryptoasset Products) (Amendment) and Associated Exiting the European Union Amendments Instrument 2020/46; Technical Standards (Securities Financing Transactions Regulation) (EU Exit) (No 1) Instrument 2020/51; Technical Standards (Securities Financing Transactions Regulation) (EU Exit) (No 2) Instrument 2020/52; Technical Standards (Markets in Financial Instruments Regulation) (EU Exit) (No 3) Instrument 2020/56; Handbook Administration (No 54) Instrument 2020/61; COVID-19 Mortgages Instrument (No. 2) 2020/62; Mortgages (Intra-Group Switching) Instrument 2020/63 and Fees (Credit Rating Agencies, Trade Repositories and Securitisation Repositories) Instrument 2020/67.
Supporting links:
- Link 1
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23.10.2020
FCA: Securitisation
FCA has updated the section on STS notifications on this webpage.
Supporting links:
- Link 1