News

Search Filters

Advanced Search Advanced Search
Date range:

Showing 1 - 10 of 2215 matches filtered by 'Brexit'

  • The Financial Services (Miscellaneous Amendments) (EU Exit) Regulations 2022 (Draft)

    06/07/2022
    The SI contains a range of measures to address deficiencies in retained EU law by: (i) remedying the territorial application of... the PSRs to require a small payment institution applicant to demonstrate that where it has “close links” with a person outside the UK that there is nothing which would impede FCA’s effective supervision of the applicant in question; (ii) expanding the scope of TRR to allow overseas CCPs within it to offer new products into the UK; (iii) clarifying the gateway in the retained CRR which allows FCA to share information with BoE, PRA and third country regulatory authorities; (iv) extending the temporary recognition STS securitisations to the end of 2024; (v) extending the TPP for the purposes of modifying the application of the share trading obligation and derivatives trading obligation.
    Support Information
    Show more Show less
  • HMT Speech by John Glen

    30/06/2022
    Text of John Glen’s speech of 30 June 2022 follows. Topics include: Financial Services and Markets Bill; the UK equivalence... framework; fintech.
    Support Information
    Show more Show less
  • BoE: Non-UK CCPs

    30/06/2022
    BoE has published a PS and SoP on its approach to tiering incoming CCPs based on the level of risk they... could pose to UK financial stability. The implementation date for the final policy on tiering and comparable compliance is 1 December 2022. In addition, BoE has published consultations on its approach to charging fees for the recognition and monitoring of incoming CCPs and the fees regime for incoming central securities depositories. Responses are required by 15 September 2022, with a proposed implementation date of 1 December 2022. Papers may be downloaded via the following link.
    Support Information
    Show more Show less
  • HoL European Affairs Committee: The UK-EU relationship in financial services

    24/06/2022
    The Committee has published this report. It found that the overall outlook for the UK financial services sector post-Brexit is... positive, but cautions the Government against complacency and raises concerns over potential barriers to cross-border trade in financial services. The Committee suggests that the Government seems reluctant to recognise the importance of the UK-EU relationship, unwilling to fully engage with the EU institutions, or to acknowledge that developments in the EU still have significance for the UK. The Committee found that the absence of EU equivalence decisions for the UK reflects a political, rather than technical, approach on the part of the EU, and it appears that the UK is being held to a higher standard than other countries in this regard, but concludes that the absence of EU equivalence decisions has had less adverse impact than initially feared. The Committee found that the MoU on regulatory cooperation is being held up because of wider difficulties in the UK-EU relationship and considers that its earliest possible entry into force should be a priority for the Government.
    Support Information
    Show more Show less
  • HoC: European Scrutiny Committee: Regulating after Brexit

    15/06/2022
    The Committee has launched an enquiry into the benefits and challenges to business and the UK economy of diverging from copied... EU regulations when the UK left the block, and where the Government should rewrite or repeal these laws. ToR have been published, with responses required by 22 July 2022.
    Support Information
    Show more Show less
  • ECB: Post by Andreas Enria: The desks mapping review – integrating Brexit banks into European banking supervision

    19/05/2022
    Text of Andrea Enria’s blog post of 19 May 2022 follows, in which he notes “no major supervisor has ever had... to assume, over a short period of time, the integration of a significant number of incoming institutions with global market activities belonging to groups headquartered in third countries in its supervisory remit”.
    Support Information
    Show more Show less
  • HMT: Financial Services and Markets Bill

    10/05/2022
    HMT has published this press release on the Bill, announced in the Queen’s Speech. The main elements of the Bill... are described as: revoking retained EU law on financial services, including Solvency II legislation; updating the objectives of the financial services regulators to ensure a greater focus on growth and international competitiveness; reforming capital markets rules; ensuring access to cash; introducing additional protections for those investing or using financial products, and to make it safer and support the victims of scams. More details will be available when the Bill is formally introduced.
    Support Information
    Show more Show less
  • HMG: Queen's Speech

    10/05/2022
    In addition to the Financial Services and Markets Bill, the Queen’s Speech announced, amongst other legislation: Brexit Freedoms Bill; Draft Digital... Markets, Competition and Consumer Bill; Electronic Trade Documents Bill; Economic Crime and Corporate Transparency Bill and the Online Safety Bill. Further details are available in the background notes document.
    Support Information
    Show more Show less
  • HMT: Speech by John Glen

    28/04/2022
    John Glen’s speech at a German Economic Council event in Berlin on 27 April 2022 follows. Topics include: green finance;... sanctions; digital finance, and post-Brexit cooperation in the area of financial services.
    Support Information
    Show more Show less