Banking & finance

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Right of withdrawal in consumer credit agreements: a mere cross-reference is not enough
09.04.2020

In 2012, a consumer entered into a credit agreement with the bank Kreissparkasse Saarlouis. The credit agreement granted the borrower a right of withdrawal of 14 days and furthermore stated that this period would only start after (i) the conclusion of the credit agreement but not before (ii) the borrower ...
Germany: Coronavirus and capital markets - Delayed financial reports shall temporarily not be penalised
09.04.2020

For the time being, listed companies are not facing penalties if they report their figures too late due to the coronavirus pandemic.
COVID-19: FCA confirms temporary financial relief for customers impacted by coronavirus
09.04.2020

Today, the FCA confirms a package of targeted temporary measures to help borrowers with some of the most commonly used consumer credit products. The guidance (relating to personal loans and credit cards) has been produced following a short consultation. The initial proposals were detailed in our article last week, which ...
Senior Managers and Certification Regime (SMCR) expectations during the Coronavirus crisis
06.04.2020

The PRA and FCA have set out their regulatory expectations for both dual and solo-regulated SMCR firms impacted by Covid-19, recognising that firms need flexibility in order to manage their governance arrangements and obligations under the SMCR during this unprecedented time. Joint FCA and PRA statement Senior Managers and Certification ...
COVID-19: FCA proposes temporary financial relief for customers impacted by coronavirus
03.04.2020

The FCA has proposed a range of targeted temporary measures designed as a stop gap to support users of certain consumer credit products who are impacted financially by the circumstances arising from coronavirus (Covid-19). The package also includes two sets of draft guidance relating to: Personal loans; and Credit cards ...

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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/
SIX Exchange Regulation

Term:

SIX Exchange Regulation

Other Names:

Definition:

Area:

Type:

Regulator

Country:

Switzerland

URL:

http://www.six-exchange-regulation.com/index_en.html
Swedish Central Bank

Term:

Swedish Central Bank

Other Names:

Sveriges Riksbank

Definition:

Responsible for monetary policy with objectives of maintaining price stability and promoting a safe and efficient payment system.

Area:

Type:

Regulator

Country:

URL:

http://www.riksbank.se/en/

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Latest sector news

09.04.2020
ESMA: Actions to mitigate the impact of Covid-19 on the deadlines for the publication of periodic reports by fund managers
ESMA has published a public statement directed at certain fund managers with regard to their obligations to publish yearly and half-yearly reports. ESMA expects national...
competent authorities to adopt a risk-based approach and not prioritise supervisory actions against these market participants with regard to the upcoming reporting deadlines.
Supporting links:
- Link 1
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09.04.2020
FCA: Consumer credit and Covid-19
Following last week’s consultation, FCA has confirmed that it going ahead with the proposed changes. The rule changes came into force on 9 April 2020...
and the full range of measures will apply by 14 April 2020 in order to allow firms time to ensure that they are able to handle customer requests. As a result of feedback, FCA has updated its guidance to include clarification as to which products are in scope.
Supporting links:
- Link 1
- Link 2
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09.04.2020
HMT/BoE: Temporary extension to Ways and Means facility
HMT and BoE have agreed to extend temporarily the use of this facility, which will provide a short-term source of additional liquidity to the government if...
needed to smooth its cashflows and support the orderly functioning of markets, through the period of disruption from Covid-19.
Supporting links:
- Link 1
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09.04.2020
PRA: CP4/20: Regulated fees and levies: rates proposals 2020/21
The CP sets out proposals for PRA’s fees for 2020/21. Responses are required by 15 May 2020.
Supporting links:
- Link 1
09.04.2020
ESMA: MiFID II/MiFIR review report on the transparency regime for non-equity instruments and the trading obligation for derivatives
As a result of the Covid-19 epidemic, ESMA has extended the response date for the consultation to 14 June 2020 (from 17 May 2020).
Supporting links:
- Link 1

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Banking & finance

Latest Reports

Top report

Right of withdrawal in consumer credit agreements: a mere cross-reference is not enough

Germany: Coronavirus and capital markets - Delayed financial reports shall temporarily not be penalised

COVID-19: FCA confirms temporary financial relief for customers impacted by coronavirus

Senior Managers and Certification Regime (SMCR) expectations during the Coronavirus crisis

COVID-19: FCA proposes temporary financial relief for customers impacted by coronavirus

Jargon Buster

Agency Database

Latest sector news

ESMA: Actions to mitigate the impact of Covid-19 on the deadlines for the publication of periodic reports by fund managers

Supporting links:

FCA: Consumer credit and Covid-19

Supporting links:

HMT/BoE: Temporary extension to Ways and Means facility

Supporting links:

PRA: CP4/20: Regulated fees and levies: rates proposals 2020/21

Supporting links:

ESMA: MiFID II/MiFIR review report on the transparency regime for non-equity instruments and the trading obligation for derivatives

Supporting links:

News Wizard

Partner Details

Simon Morris

Paul Edmondson

Ash Saluja

Iain Batty

Joachim Kaetzler