Banking & finance

Reports, news and data relating to the Banking & Finance sector.

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Packaged Retail and Insurance-based Investment Products (PRIIPs) Regulation (1286/2014) has been adopted but is not yet in force. The European Commission has delayed the entry into force by one year (previously expected to enter into force 31 December 2016). The PRIIPs Regulation and Delegated Regulations apply as of 1 January 2018.

Latest Reports

  • handshake

    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...

  • UK and EU flags

    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...

  • car sunlight

    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

  • man and euros

    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...

  • closed road

    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.

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Agency Database

Future Dates

* Estimated date

  • 9 December 2019

    PRA Consultation CP20/19 closes. 

  • 9 December 2019

    The changes set out in the appendices of PRA PS20/19, implementing changes to the prescribed responsibility for recovery and resolution under SM&CR,  will come into force. 

  • 31 December 2019

    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.