XP 49 Financial Industry Consultants

21st January 2022 – UK FCA Final Report on Competition in Retail Banking Markets

2022-03-14T12:45:45+00:00

Following its 2018 report, the FCA investigated changes due to COVID-19, the impacts of digitisation and the benefits of ring-fencing retail banks, in light of facilitating competition. The FCA summarises its key findings as follows: Large banks are in a strong position but face increasing competition, in particular for PCAs (Private Current Accounts) Low levels [...]

21st January 2022 – UK FCA Final Report on Competition in Retail Banking Markets2022-03-14T12:45:45+00:00

17th January 2022 – UK Government Climate Risk Assessment 2022

2022-03-14T12:34:32+00:00

The UK government publishes its third 5-year risk assessment of the climate change risks, based on the Independent Assessment of UK Climate Risk (provided by the CCC - Climate Change Committee). The risk assessment considers sixty-one UK-wide climate risks and opportunities cutting across multiple sectors of the economy and prioritises the following eight risk areas [...]

17th January 2022 – UK Government Climate Risk Assessment 20222022-03-14T12:34:32+00:00

13th January 2022 – Swiss National Bank – Wholesale CBDC – Project Helvetia Phase II

2022-01-17T17:55:04+00:00

Phase II of Project Helvetia was focused on the settlement of tokenised assets in a Wholesale CBDC (wCBDC). Project Helvetia is a collaboration between the SNB, BIS Innovation Hub, SIX (the Swiss Exchange) and 5 large commercial banks. SIX already offers trading and settlement of "tokenised assets", but using privately issued forms of digital currencies [...]

13th January 2022 – Swiss National Bank – Wholesale CBDC – Project Helvetia Phase II2022-01-17T17:55:04+00:00

13th January 2022 – World Economic Forum Global Risk Report 2022

2022-01-17T17:47:27+00:00

The WEF publishes its annual review of global risks. As can be seen in the image below, 5 out of the top 10 risks identified in the WEF survey are linked to Environmental risks, and one could say that 2 of the Societal issues are partly linked to Climate Risks too (livelihood crises, infectious diseases). [...]

13th January 2022 – World Economic Forum Global Risk Report 20222022-01-17T17:47:27+00:00

13th January 2022 – UK PSR (Payment Systems Regulator) Strategy

2022-03-14T12:52:44+00:00

The PSR expresses its strategy along 4 priorities for the next five years. These are: Ensure users have continued access to the payment services they rely on and support a choice of payment options. Ensure users are sufficiently protected when using the UK's payment systems. Promote competition between UK payment systems and the markets supported [...]

13th January 2022 – UK PSR (Payment Systems Regulator) Strategy2022-03-14T12:52:44+00:00

13th January 2022 – IOSCO Operational Resilience of Trading Venues Consultation Results

2022-03-14T12:14:03+00:00

IOSCO draws a few lessons from its s=consultation about strengthening the resilience of trading venuws through enhanced BCP testing, effective governance frameworks, managing dependencies on people, premises, processes...   IOSCO report link: https://www.iosco.org/library/pubdocs/pdf/IOSCOPD694.pdf

13th January 2022 – IOSCO Operational Resilience of Trading Venues Consultation Results2022-03-14T12:14:03+00:00

12th January 2022 – UK PRA Dear CEO Letter to International Banks – 2022 Priorities

2022-01-17T17:39:40+00:00

The PRA (Prudential Regulator) sent a "Dear CEO" letter to all international banks active in the UK, detailing its priorities (and therefore areas of particular attention for the banks) for 2022. It issued a similar letter to Insurance companies. The main preoccupations for the PRA as far as banks are concerned: 1. Financial resilience - [...]

12th January 2022 – UK PRA Dear CEO Letter to International Banks – 2022 Priorities2022-01-17T17:39:40+00:00

7th January 2022 – ISDA OTC Compliance Calendar

2022-01-17T17:13:26+00:00

ISDA publishes monthly updates on the OTC reform calendar, detailing all the forthcoming regulations by jurisdictions. This is a useful reminder of changes to come and dates to pay attention to.   ISDA document: https://www.isda.org/a/vU6gE/Updated-OTC-Derivatives-Compliance-Calendar-2022-1-1.pdf  

7th January 2022 – ISDA OTC Compliance Calendar2022-01-17T17:13:26+00:00

4th January 2022 – IOSCO Investment Funds Statistics Report

2022-01-17T17:07:58+00:00

This is the 1st report on Investment Funds statistics from IOSCO, but it is due to become an annual exercise. It covers hedge funds, open-ended and closed-ended funds (although IOSCO caveats this, due to more limited data on open- and closed-ended funds in certain jurisdictions).   IOSCO report link: https://www.iosco.org/library/pubdocs/pdf/IOSCOPD693.pdf

4th January 2022 – IOSCO Investment Funds Statistics Report2022-01-17T17:07:58+00:00
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