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Category - Supervision

Up next from FCA

Over the rest of 2020, FCA plans the following: consultations on mortgage borrowing and mortgage prisoners (now overdue), debt advice levy rates and exist fees in investment platforms (Summer 2020) and on financial...

FCA makes fees for 2020/21

FCA has published its final fees and levies for 2020/21.  Almost all respondents to its consultation welcomed the freezing of minimum fees and the 2 month extension to payment terms for medium and small firms, but most...

PRA comments on CRR “quick fix”

PRA has made a statement on some aspects of the EU’s “quick fix” to the CRR. The statement notes: PRA’s support (back in 2017) of IFRS 9 transitional arrangements, which the quick fix now...

FCA makes new rules

FCA has published a Handbook Notice covering the rules it made at its May and June Board meetings. changes to COBs in relation to pension transfers, introducing a ban on contingent charging in respect of most advice on...

BoE postpones Financial Stability Review

BoE has announced its decision to postpone publication of the Q2 FSR to 6 August.  Since its May meeting, though, it has taken several decisions by written procedure including the Q2 setting of the CCyB and its views on...

FCA ready with Gabriel replacement

FCA has announced that its new platform, which replaces Gabriel, is called RegData, and that it is preparing to move all firms across to it. It will move firms over in groups, depending on the nature of their reporting...

Treasury appoints new FCA CEO

Treasury has appointed Nikhil Rathi as the new permanent Chief Executive of the FCA. He joins from teh LSE, having previously been Director, Financial Services Group at the Treasury.  He is expected to take up his role...

BoE and PRA publish 2020 Annual Reports

On 18 June, the Bank of England (“BoE”) published its Annual Report and Accounts and its Asset Purchase Facility Fund Limited Annual Report for the period between March 2019 – February 2020. It also...

EBA updates RTS on CRD passport notifications

EBA has published its final revised RTS and ITS on passport notifications.  The new versions are aimed at betting better quality consistent information, particularly on start dates of new activities and the granularity...

Dear CEO Letter: SME Lending

The FCA published a Dear CEO Letter today setting out its expectations of Banks who lend to SMEs. Whilst SME lending sits mostly outside the FCA’s scope, the FCA has called out that any activity undertaken by a...

FCA Business Plan 20/21

The FCA published its business plan for the coming year this morning.  The plan focuses around 5 key priorities for the year.  It has been significantly reshaped because of coronavirus as it was intended to show the...

Change in Control: PRA Update

The PRA has updated its change in control website to ask that until further notice, any change in control notifications are only sent by email to ChangeinControl@bankofengland.co.uk (and not by post). This only applies...

CMA Annual Plan 20/21

The CMA published its annual plan for the year 20/21 today. The plan sets out the following 6 key objectives for the coming year: Protecting consumers, including in particular those in vulnerable circumstances Improving...

FCA issues Covid-19 guidance for consumers

The FCA has explained that is working closely with the Government, the Bank of England, the Payment Systems Regulator and firms to ensure markets continue to work well for consumers. This includes making regular contact...

FSB priorities published

The FSB published a letter addressed to all G20 Finance Ministers and Central Bank Governors on 18 February 2020. The letter sets out the areas that the FSB are focusing their efforts on.  All of the measures are to...