News

Search Filters

Advanced Search Advanced Search
Date range:

Showing 16591 - 16600 of 19122 matches

  • FRC: Audit tenders: notes on best practice

    09/07/2013
    Following the introduction in the Corporate Governance Code in October 2012 of the provision for FTSE 350 companies to put their... audit contract out to tender every ten years on a comply or explain basis, FRC was asked by audit committee chairmen and others to provide some practical examples of how a tender might be conducted. FRC has now published guidance in response to this.
    Support Information
    Show more Show less
  • EC: Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC/ Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012

    09/07/2013
    Corrigenda to the above-mentioned texts.
    Support Information
    Show more Show less
  • Presidency of the EU: Banking union

    09/07/2013
    This press release notes that the Lithuanian Presidency has presented the development of the banking union framework as one of the... main priorities and will “do its best “to reach the Council agreement on the proposal for the Single Resolution Mechanism by the end of 2013 in order that it could be adopted before the end of the current parliamentary term. By the end of the year the Lithuanian Presidency also expects the co-legislators to adopt the Bank Recovery and Resolution Directive and Deposit Guarantee Schemes Directive.
    Support Information
    Show more Show less
  • EBA: Draft regulatory technical standards on collaboration concerning supervision between home and host Member States specifying the information that competent authorities shall supply to one another/Draft implementing technical standards on collaboration concerning supervision between home and host Member States in relation to sharing of information

    09/07/2013
    EBA has published two consultations relating to how competent authorities collaborate and exchange information regarding institutions operating through branches and regarding... the freedom of provision of services in one or more EU Member States other than that in which head offices are situated. The proposed draft technical standards focus on exchange of supervisory information between supervisory authorities, with the aim of ensuring a structured and consistent process in the provision of and access to key supervisory information across Member States. The draft Standards are therefore not directly addressed to supervised institutions nor they introduce any direct reporting requirements. The draft regulatory technical standards specify the information that competent authorities shall exchange with each other according to Article 50 of the Capital Requirements Directive, which covers the following areas: management and ownership; liquidity and supervisory findings; solvency; deposit guarantee schemes; limitation of large exposures; internal control mechanisms. The draft standards introduce some additional areas where competent authorities shall exchange information, such as leverage, general non-compliance, supervisory measures and sanctions, and preparation for emergency situations. The draft implementing technical standards outline operational procedures and set out standard forms and templates for information sharing requirements. Responses to the consultations are required by 8 October 2013 and the draft standards are expected to be submitted to the EC by 1 January 2014.
    Support Information
    Show more Show less
  • ESMA: Draft regulatory technical standards on information requirements for assessment of acquisitions and increases in holdings in investment firms (MiFID)

    09/07/2013
    The proposed standards set out in this consultation are based on the CEBS, CESR and CEIOPS ‘Guidelines for the prudential assessment... of acquisitions and increases in holdings in the financial sector required by Directive 2007/44/EC’ and a February 2013 report issued by the EC to the European Parliament, the Council, the European Economic and Social Committee, and the Committee of Regions on the application of Directive on acquisitions and increase of holdings in the financial sector. Responses are required by 9 September 2013. ESMA will consider the responses it receives in Q4, and will finalise the draft standards for sub-mission to the EC by 1 January 2014 for endorsement.
    Support Information
    Show more Show less
  • MoJ: Conduct of Authorised Persons Rules 2013 (2)

    09/07/2013
    These rules are effective from 8 July 2013 and are made by the Regulator pursuant to Regulation 22 of the Compensation... (Claims Management Services) Regulations 2006. These rules apply to the conduct of all regulated claims management companies and supersede the previous conduct rules which were implemented on 1 April 2013.
    Support Information
    Show more Show less
  • EC: Bank of Ireland

    09/07/2013
    The EC has announced that it has authorised changes to Bank of Ireland's second restructuring plan, approved in December 2011 as... it considers the changes compatible with EU state aid rules. In the light of various changes in the market circumstances since the 2011 decision, BOI is in particular no longer required to divest New Ireland Assurance Company. . To replace this divestment, Ireland has proposed equivalent commitments which will ensure that competition distortions are limited and will exit from the Great Britain Business Banking and Great Britain Corporate Banking businesses; exit from the intermediary mortgage market in Ireland, including through the sale of the ICS Building Society distribution platform or parts of it, along with, at the acquirer's option, up to €1 000 million of mortgage assets and deposits and prolong a series of market opening measures by one year, until December 2016. Additionally, the Irish authorities committed to ensure that Bank of Ireland will extend limitations on the distribution of dividends beyond December 2015 or until it has reimbursed the Irish government for the preference shares.
    Support Information
    Show more Show less
  • TSC: Bank of Ireland

    09/07/2013
    TSC has published a letter from Martin Wheatley, regarding the decision of the Bank of Ireland to increase the rate of... some of its tracker mortgages together with links to earlier published correspondence. TSC notes: “a small number of customers were belatedly granted a reprieve as a result of a review of their cases. Most were not. All of the mortgages were sold before 31 October 2004. As a result, the FCA has no jurisdiction over them. Its options for taking action were therefore severely limited. Furthermore, under current rules, it still has no jurisdiction over any mortgages covering buy-to-let properties. This is largely an issue for the FOS … FCA has not made clear what its position would have been had these mortgages been sold after October 2004. It would be helpful if it did so. The FCA also does not think any other banks have imposed similar clauses allowing the lender to increase the differential between the base rate and a tracker rate. It should check that this is indeed the case”.
    Support Information
    Show more Show less
  • PRA: Modification by consent of IPRU (INS) 9.17, 9.19, 9.20 & 9.20A

    09/07/2013
    Under IPRU (INS) rules 9.17, 9.19, 9.20 and 9.20A, firms must complete certain reporting forms to give us additional information about... their general insurance business. PRA has made available a streamlined process for certain insurance firms in run-off who are seeking a waiver of IPRU (INS) Rules 9.17, 9.19, 9.20 and 9.20A, where the regulator is satisfied that it no longer needs certain information to supervise them. PRA will grant a waiver or modification of the relevant rules in appropriate cases. The modification will be valid until 31 March 2018
    Support Information
    Show more Show less