Reports, news and data relating to the Banking & Finance sector.
On 6 November 2019, the Swiss Federal Council decided that the Swiss Financial Services Act and the Swiss Financial Institutions Act will enter into effect on 1 January 2020. The implementing provisions of these acts are contained in the recently published final versions of the Financial Services Ordinance, the Financial Institutions Ordinance and the Supervisory Organisation Ordinance. However, as...
In an article originally published in the Compliance and Risk Journal, Sam Robinson, Susann Altkemper and Yasmin Johal explain ten important issues relating to the Central Securities Depositories Regulation. ("CSDR").
1. FCA: Response to key comments from the independent panels' annual reports for 2018-19
FCA has published its response to key comments from the annual reports of FSCP, FCA PP, FCA SBPP and FCA MPP. Specific areas covered include: Brexit; FCA’s priorities; operational and cyber resilience; crypto assets; Mortgage Markets Study; duty of care; fair pricing; consumer credit; Retirement Outcomes...
Today the FCA introduced temporary rules banning the marketing of speculative mini-bonds to retail investors. The rules will apply from 1 January 2020 for a period of 12 months, expiring on 31 December 2020.
On 18 November 2019, the Investment Association released its Responsible Investment Framework Final Report the “Report”).
The Report follows the IA’s consultation at the beginning of this year, which sought industry views on:
a proposed framework to categorise and define common Responsible Investment approaches (the “Framework”);
a UK retail product label for funds which use Responsible...
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Following PRA's policy statement (PS10/17) - operational continuity firms are expected to submit the template (PRA109) 45 business days after the first reporting period ending 31 December.
The date by which all references to CRA ratings in laws and regulations relating to banks are to be removed. This will be done by the Commission based on technical advice from ESMA. EIOPA will be responsible for implementation.
The EC consultation on a review of the Benchmarks Regulation closes on 6 December 2019.
The Commission is required to review the BMR and submit a report to the European Parliament and Council of the EU by 1 January 2020.
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