Financial Services Regulation

This network is for financial professionals interested in staying up to date on financial services regulation happening anywhere in the world. CFOs, bankers, fund managers, treasurers welcome.

Retired Member 

New capital regime calls for increasd operational efficiency

Money, as they say, does not grow on trees. Balance sheets must balance, and capital requirements must be met. Next year will see the implementation of the new European capital regime - the Capital Requirements Directive (CRD) and Capital Requirements Regulation (CRR). Essentially, banks will be required to hold higher ratios of capital in relatio...

06 January 2014 /regulation /retail

Retired Member 

The 2013 Mortgage Market in 140 Characters or Less

2013 has been a pivotal year in the mortgage market – final rules for MMR, new regulatory bodies with the PRA and FCA, house sales and mortgage sales starting to rise, a new Governor of the Bank of England, controversial government initiatives and as the year ends, the EU Directive vote is passed and brings more work for lenders and regulators in ...

20 December 2013 /regulation

Retired Member 

ESMA updates questions and answers on EMIR reporting

The European Securities and Markets Authority (ESMA) has published an updated questions and answers document on “Implementation of the Regulation on OTC derivatives, central counterparties and trade repositories (EMIR)”. The following questions and answers sections have been updated: OTC questions on: the calculation of the clearing threshold - qu...

18 December 2013

Retired Member 

Government agrees Solvency II should apply from 1 Jan 2016

The House of Commons European Scrutiny Committee has published a report which includes the Government’s views on the proposed Regulation to amend the transposition date of Solvency II to 31 January 2015 and set new repeal date for Solvency II of 1 January 2016. The Government is in favour of the proposed changes to the dates in the Solvency II Dir...

16 December 2013

Retired Member 

Solvency II: PRA IMAP data request

The Prudential Regulation Authority (PRA) has updated its Solvency II news webpage to detail that, on 8 November 2013, it had sent a request to firms in the internal model approval process (IMAP) for a smaller volume of data for the mid-year calculation of the early warning indicators (EWIs). This information will add to the year-end 31 December 2...

13 December 2013

Retired Member 

HM Treasury consults UK reporting requirements under CRD IV

Following consultation on country-by-country reporting under the fourth Capital Requirements Directive (CRD IV) HM Treasury is seeking final views on the country-by-country reporting draft legislation and draft guidance. The regulations require each institution to publicly disclose annually on a consolidated basis, by country of establishment: the...

12 December 2013

Retired Member 

New FCA webpage on CRD III rules

The FCA has published a new webpage containing information about investment firms which may continue to comply with CRD III (i.e. firms subject to the BIPRU prudential sourcebook for Banks, Building Societies and Investment Firms) rules from 1 January 2014, rather than moving to CRD IV (IFPRU the prudential sourcebook for investment firms and the C...

11 December 2013

Retired Member 

FCA details its pragmatic approach to reporting obligations

The Financial Conduct Authority (FCA) held the Markets Conference in November in which Martin Wheatley, Chief Executive, FCA, and David Lawton, Director of Markets, FCA, both delivered keynote speeches. Mr Wheatley surveyed the new global regulatory landscape and how it has changed in recent history, emphasising its global nature and tightened re...

09 December 2013

Retired Member 

FCA sets out conduct expectation for insurers

Clive Adamson, the Financial Conduct Authority’s (FCA) Director of Supervision, spoke at the Insurance Institute of London. In his speech, Mr Adamson discussed the FCA’s overall aim for the insurance industry, which is to work with it to enhance public trust, so that when consumers purchase insurance products and services, they can be confident th...

05 December 2013

Retired Member 

FCA publishes new webpage of approved person applications

The Financial Conduct Authority (FCA) has published a new webpage which gives information of the volumes of approved person applications for controlled functions that it has received and made a decision upon. These figures will be published every six months, starting with the period from 1 April 2013 to 30 September 2013. The information published ...

04 December 2013