Author Archives: Andrew Barber
The Treasury Committee has launched a new inquiry into the UK’s economic relationship with the EU, which amongst other things will consider: Transitional arrangements; Preparedness for ‘no deal’; and The long-term economic relationship. The inquiry is now open, and is accepting written submissions. The first evidence session (to be held 25 October) will focus on the progress […]
In line with its 2017/18 Business Plan, FCA has begun its thematic review of the debt management sector. FCA has taken a particular interest in this sector, owing to the increased risks faced by (particularly vulnerable) consumers where firms fail to meet their needs. In 2014, FCA declared that debt management firms needed to “raise their game” if they […]
The Commission has published its formal request to the ESAs to report to it on the cost and past performance of the main categories of retail investment, insurance and pension products. It notes the reporting should be based on what is required under key EU legislation, and appreciates the amount of work is such that […]
Following the controversy of FCA’s refusal to publish the skilled persons’ report into the treatment of customers in the RBS Global Restructuring Group and its correspondence with the Treasury Committee on the issue, Andrew Bailey has now agreed to the Treasury Committee’s proposal to scrutinise the report. Under the proposal, the Treasury Committee will appoint a […]
ESMA has announced the launch of the second phase of its Financial Instrument Reference Database (FIRDS). It provides access to reference data that will eventually allow market participants to identify instruments subject to the MAR and MiFID 2/MiFIR reference data reporting requirements.
BoE has updated its MoU on resolution planning and crisis management between it, the PRA and Treasury. The MoU clearly sets out the duties of each entity and was last updated in April.
The Bank of England (BoE) has confirmed an implementation date of 23 April 2018 for reforms to the Sterling Overnight Index Average (SONIA) interest rate benchmark. The March 2017 reforms will result in the following changes: BoE taking on the end-to-end administration, including calculation and publication of SONIA; the coverage of SONIA being broadened to […]
FCA has published several new and updated pages on its website with new application forms for firms making applications under PSD2. The updates cover payment institutions, e-money institutions and account information service providers.
The European Banking Authority (EBA) has published final guidelines on the procedure for payment service users and other interested parties to submit complaints against PSPs in respect of alleged infringements of PSD2. The guidelines specify the information competent authorities (CAs) must request from complainants and the information CAs should use in their response to complaints. CAs are now […]
The Bond Dickinson financial services team is delighted to have achieved a Legal 500 ranking. The new directory described the team as providing ‘responsive, practical, commercial and cost-effective’ advice to a wide variety of clients within the retail sector of the financial services industry. It says that “‘Very knowledgeable’ team head Andrew Barber has ‘in-depth […]