XP 49 Financial Industry Consultants

30th November 2021 – UK FCA Policy Statement – Implementation of Investment Firms Prudential Regime (PS21/17)

2021-12-29T15:24:34+00:00

The FCA issues a Policy Statement to implement the prudential regime applicable to Investment Firms (the IFPR). The regime will apply to many UK registered firms: any MiFID investment firm authorised and regulated by the FCA that is currently subject to any part of the Capital Requirements Directive (CRD) and the Capital Requirements Regulation (CRR) [...]

30th November 2021 – UK FCA Policy Statement – Implementation of Investment Firms Prudential Regime (PS21/17)2021-12-29T15:24:34+00:00

25th November 2021 – UK PRA Consultation on Operational Resilience & Continuity

2021-12-06T18:58:27+00:00

The proposal introduced by the consultation paper would apply the group provisions in the Operational Resilience part of the PRA Rulebook relevant to Capital Requirements Regulation (CRR) firms to Holding Companies.   PRA Consultation link: https://www.bankofengland.co.uk/prudential-regulation/publication/2021/november/operational-resilience-operational-continuity-in-resolution-amendments

25th November 2021 – UK PRA Consultation on Operational Resilience & Continuity2021-12-06T18:58:27+00:00

23rd November 2021 – ECB State of Climate & Environmental Risks Management in the Banking Sector

2021-12-05T17:18:52+00:00

The ECB report provides observations following its Supervisory Review of the self-assessments and implementation plans for management and disclosure of the Climate and Environmental risks of banks under its supervision. The report provides a picture of the current state and direction of travel of C&E risk management in the banking sector, in the light of [...]

23rd November 2021 – ECB State of Climate & Environmental Risks Management in the Banking Sector2021-12-05T17:18:52+00:00

23rd November 2021 – IOSCO ESG Ratings & Data Products Providers

2021-12-05T17:08:02+00:00

IOSCO published a set of recommendations applicable to ESG Ratings and Data Products Providers. Amongst other items, IOSCO recommends that regulators could consider focusing greater attention on the use of ESG ratings and data products and the activities of ESG rating and data products providers in their jurisdictions. The word "could" is interesting; one would [...]

23rd November 2021 – IOSCO ESG Ratings & Data Products Providers2021-12-05T17:08:02+00:00

22nd November 2021 – UK HM Treasury Proposal for Reform – Financial Services Regulatory Framework Review

2021-12-05T16:58:32+00:00

Post Brexit, the UK wants to "renew [its] position as the world’s pre-eminent financial centre". This consultation follows a previous one (in October 2020). It include changes to the regulators’ statutory objectives and enhanced mechanisms for accountability, scrutiny and oversight of the regulators by Parliament, HM Treasury and stakeholders. It also sets out how we [...]

22nd November 2021 – UK HM Treasury Proposal for Reform – Financial Services Regulatory Framework Review2021-12-05T16:58:32+00:00

15th November 2021 – IOSCO Principles for Commodity Derivatives Markets Regulation

2021-12-05T17:08:24+00:00

IOSCO completed its taskforce work on the supervision and regulation of commodity derivatives markets. The G20 had asked IOSCO to work on the regulation and supervision of commodity derivatives markets back in 2010, stressing the need “for enhanced transparency in both cash and derivatives markets as previously recommended by IOSCO”. In April 2011, the G20 [...]

15th November 2021 – IOSCO Principles for Commodity Derivatives Markets Regulation2021-12-05T17:08:24+00:00

8th November 2021 – Bank of England Approach to Tiering Incoming CCPs

2021-11-25T18:34:32+00:00

The Bank of England (BoE) has today published a Consultation Paper and draft Statement of Policy on the Bank’s approach to ‘tiering’ non-UK central counterparties (CCPs) based on the level of systemic risk they could pose to UK financial stability. Currently non-UK CCPs can provide services in the UK under a temporary recognition regime. In [...]

8th November 2021 – Bank of England Approach to Tiering Incoming CCPs2021-11-25T18:34:32+00:00

3rd November 2021 – FCA ESG Priorities

2021-12-05T15:35:23+00:00

FCA, a UK regulator, publishes its "strategy for positive change"focused on ESG, through a dedicated webpage with a lot of useful information. A useful summary is their timeline for the key workstreams in 2022.   Access to the FCA ESG Priorities website: https://www.fca.org.uk/publications/corporate-documents/strategy-positive-change-our-esg-priorities#lf-chapter-id-our-esg-strategy-our-business-plan-commitments Access to the 2022 timeline: https://www.fca.org.uk/publication/fca/esg-strategy-upcoming-milestones.pdf

3rd November 2021 – FCA ESG Priorities2021-12-05T15:35:23+00:00

2nd November 2021 – UK Regulatory Initiatives Grid

2021-11-25T17:34:53+00:00

UK Regulators (Bank of England, PRA, FCA) released an update of their regulatory Initiatives Grid. A high level timeline is provided in page 4: The Grid can be found here: https://www.fca.org.uk/publication/corporate/regulatory-intitiatives-grid-november-2021.pdf  

2nd November 2021 – UK Regulatory Initiatives Grid2021-11-25T17:34:53+00:00

1st November 2021 – IOSCO Recommendations on Sustainability Disclosures in Asset Management

2021-12-05T17:08:47+00:00

IOSCO issued a consultation on the topic of disclosures in Asset Management on 30th June 2021. Based on the feedback received (45 submissions), IOSCO has finalised its list of recommendations, with the stated goal of improving sustainability-related practices, policies, procedures and disclosures in the asset management industry. IOSCO has summed up its views into 5 [...]

1st November 2021 – IOSCO Recommendations on Sustainability Disclosures in Asset Management2021-12-05T17:08:47+00:00
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