FIN.

Author - Lucy Hadrill

FCA announces benefits of RegData

RegData is set to replace Gabriel as the FCA’s data collection platform and will offer an enhanced user experience. FCA says the benefits of RegData will include: Increased speed and faster navigation; Improved...

FCA consults on fees

FCA is consulting on proposed policy changes to the way it will raise FCA fees from 2021/22. The consultation applies to: any businesses considering applying for FCA authorisation or registration, and any existing fee...

FSB publishes 2020 Resolution Report

The Financial Stability Board (FSB) has published its 2020 Resolution Report which highlights the need for resolution preparedness. It also looks at lessons learnt from the Covid-19 pandemic, which stressed the...

FCA updates on BI insurance test case

The FCA has updated its webpage on business interruption insurance with details of the BI test case Supreme Court appeal. The Supreme Court will live-stream the appeal on: Monday 16 November: 11am-4pm; and Tuesday 17 –...

FSB consults on outsourcing

The Financial Stability Board (FSB) is consulting on “Regulatory and Supervisory Issues Relating to Outsourcing and Third-Party Relationships” following a survey conducted among the FSB members. Whilst...

BoE consults on OCIR policy

The BoE is consulting on various proposals relating to operational continuity in resolution (OCIR) policy. The BoE proposes the following amendments: Changes to the OCIR section of the Approach to Assessing...

PRA consults on BRRD II

The PRA has launched a consultation on its Contractual Recognition of Bail-in (CROB) and Stay in Resolution (Stays) Rules. The proposals will support the UK’s transposition of the Bank Recovery and Resolution...

UK and Japan sign free trade agreement

The UK-Japan Comprehensive Economic Partnership Agreement (CEPA) was signed on 23 October marking the first agreement that the UK has secured as an independent trading nation. The deal is hoped to boost UK-Japan trade...

FCA: new webpages on whistleblowing

The FCA has launched two new webpages on whistleblowing. The first webpage sets out the process for reporting concerns of wrongdoing to the FCA in confidence and provides guidance on: Making the decision to speak to the...

FSB issues final report on CIRR toolkit

The Financial Stability Board (FSB) has published its final report on a toolkit of effective practices for financial institutions’ cyber incident response and recovery (CIRR). The toolkit aims to assist financial...

Lords responds to HMT on equivalence

Baroness Donaghy, chair of the House of Lords EU Services Sub-Committee, has responded to HMT’s letter of 21 September which set out the Government’s responses to previous queries of the Sub-Committee on UK...

FSB reports on global stablecoins

The Financial Stability Board (FSB) has published its finalised high-level recommendations for the regulation, supervision and oversight of “global stablecoin” (GSC) arrangements. The report says that GSC...

HMT writes to House of Lords on equivalence

The Economic Secretary to HM Treasury, John Glen MP, has responded to the House of Lords EU Services Sub-Committee’s queries on UK-EU regulatory cooperation for UK financial services post-Brexit. In its letter to...

EIOPA sets out approach on POG

The European Insurance and Occupational Pensions Authority (EIOPA) has published a paper outlining its approach to the supervision of product oversight and governance (POG) requirements based on the Insurance...

EU to recognise UK CCPs from 1 January 2021

The European Securities and Markets Authority (ESMA) has announced that it will recognise the three central counterparties (CCPs) established in the UK as third country CCPs (TC-CCPs) from 1 January 2021.  The decision...

ESMA issues report on MAR

The European Securities and Markets Authority (ESMA) has published its first in-depth review of the Market Abuse Regulation (MAR) since its implementation in 2016. It is expected that the report will feed into the...

EC adopts retail payments strategy

The European Commission (EC) has adopted a Retail Payments Strategy as part of its new Digital Finance Package. The strategy draws on the findings of the public consultation launched earlier this year and identifies key...

In Conversation on Debt

On 10 September we hosted the latest Retail Banking Mixer in our In Conversation series.  This session focussed on debt in the retail banking sector and we were joined by Mayoor Patel, Head of Legal (Retail &...

FMSB reviews trade execution challenges

The FICC Markets Standards Board (FMSB)’s latest Spotlight Review explores the challenges faced in measuring quality of trade execution and how this varies across market participants and segments. FMSB says that...

Have a look at our retail banking timeline

In conjunction with the FIN. blog, we have today launched a retail banking timeline over on the Womble Bond Dickinson website.  Our timeline highlights key dates, legislation, events and insights relevant to the retail...

New appointments to the FCA Board

HM Treasury has confirmed the appointments of Jeannette Lichner and Bernadette Conroy to the FCA Board.  The new NEDs will each serve three-year terms beginning on 1 April and 1 August 2020 respectively.

ESMA outlines sustainable finance strategy

On 6 February, ESMA published its sustainable finance strategy which sets out how ESMA plans to focus on sustainability. ESMA’s key priorities include: completing the regulatory framework on transparency...

EBA begins 2020 EU-wide stress test

The stress test is designed to provide banks, supervisors and other market participants with a common analytical framework to consistently assess and compare the resilience of EU banks to economic shocks. As in previous...

FCA and IBA write to ISDA on LIBOR

In December 2019, the International Swaps and Derivatives Association (ISDA) wrote to the FSB and recommended that the FCA and the ICE Benchmark Administration (IBA) provide further clarity about the length of any...

Progress update on PSR’s work

Chris Hemsley, Managing Director of the Payment Systems Regulator (PSR) delivered a speech at last week’s Westminster Business Forum: Payments, policy and regulation – infrastructure, innovation and end-user...