FIN.

Author - Roseyna Jahangir

Updated FCA and PRA MoU published

The FCA and the PRA have updated the MoU setting out the relationship between the two regulators and the way in which they respectively operate, particularly in common areas. The MoU was first published at the time of...

EBA FinTech report published

The EBA has analysed the regulatory landscape for FinTech firms, both in terms of activities around the regulatory perimeter and within authorisation.  The report sets out the findings of this analysis, including...

FCA discusses AI in financial services

In a recent speech, Christopher Woolard of the FCA considered three lenses through which the FCA views the issues relating to AI: what are new, and what are existing issues; how to ensure that AI creates value for...

PRA feeds back on fees and levies

PRA has published its policy statement on proposed rates for 2019/2020. It will be implementing the proposals unchanged, and its updated rules and supervisory statement will take effect on 1 July.

CRR II and CRD V published in OJEU

CRR II and CRD V appeared in the OJEU on 7 June, together with BRRD II and the SRM II Regulation.  The measures, adopted in May, are all part of the banking reform package proposed by the European Commission in late...

PRA proposes minor form changes

PRA’s latest Occasional Consultation Paper proposes minor changes to miscellaneous Rulebook Parts, Supervisory Statements and templates and LOG files in respect of: Solvency II: The quality of capital instruments...

EBA reports on 2018 work

The EBA has published its Annual Report for 2018.  The Report records the key areas of focus for the EBA in 2018, in particular the development and maintenance of the single rulebook, and the work on payments and the...

FSB publishes LEI implementation review

Following the launch of its peer review of LEIs in August last year, the FSB has now published the outcome of this review. Overall, the review found that take up of LEIs was patchy, being most concentrated in...

UK insurance stress test feedback request

As the PRA prepares to conduct a stress test exercise, it has written to firms and industry participants to ask for feedback. The exercise will involve the largest life and general insurers, and run from Monday 1 July...

EU launches new fintech platform forum

The European Commission and ESAs have announced the launch of the European Forum for Innovation Facilitators (EFIF). There are currently 21 innovation hubs and 5 regulatory sandboxes in the EU, and the regulators want...

FCA updates on Access to Insurance

FCA has issued an update on its work following its call for input on access to insurance in respect of travel insurance for those who have or have had cancer, and its subsequent feedback statement. Since the 2018...

FCA looks at life beyond Brexit

In a speech on Brexit delivered by Nausicaa Delfas, Executive Director of International, the FCA reminded firms that the deadline for notifications under the temporary permissions regime is 28 March 2019.  Firms that...

FCA reviews credit card fees and charges

The FCA has written to credit card firms to request they review their policies and procedures in relation to fees and charges, to ensure they result in fair consumer outcomes and comply with CONC. The letter follows the...

Access to Cash Review published

The Final Report of the Access to Cash Review (Report) has been published.  The objective of this review was to consider consumer requirements for cash over the next five to fifteen years, to ensure there those...

BoE and FCA update on Brexit approach

BoE and FCA have updated their respective websites with coordinated information on their approach to a hard Brexit. BoE has published a series of materials setting out its updated plans to its supervisory approach to a...