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 

Pre-LOU prefixes for pre-LEI issuance published

The Regulatory Oversight Committee (ROC) of the global legal entity identifier (LEI) system has published a document setting out the four digit random number prefixes provided to sponsored pre-LOU solutions meeting the conditions specified by the ROC and the Financial Stability Board. This will be updated when new prefixes are granted. Related ...

04 April 2014

Retired Member 

IOSCO report: regulators’ supervisory powers need enhancing

The International Organisation of Securities Commissions (IOSCO) has published a consultation report on a comparison and analysis of prudential standards in the securities sector. The report highlights similarities, differences and gaps among the different regulators’ frameworks. The report highlights issues in the following areas where regulat...

04 April 2014

Retired Member 

EIOPA updates submission of information to NCAs

The European Insurance and Occupational Pensions Authority (EIOPA) has updated its questions and answers (Q&As) on the submission of information to national competent authorities (NCAs) in connection with the Solvency II Directive by adding 14 new questions. Related link: https://eiopa.europa.eu/publications/eiopa-guidelines/qa-on-eiopa-guideli...

03 April 2014

Retired Member 

EBA issues further updates on supervisory reporting

The European Banking Authority (EBA) has published new questions and answers (Q&As) on issues raised relating to supervisory reporting, increasing the number of Q&A to 218. The new Q&As include details on: the exposure classes to be included in reports; the operation of reporting thresholds; the reporting of nominal amounts in hedge de...

03 April 2014

Retired Member 

EBA consults on RTS on data waiver under the CRR

The Capital Requirements Regulation (CRR) requires the European Banking Authority (EBA) to develop draft regulatory technical standards (RTS) to specify the conditions under which competent authorities may grant permission to institutions to apply for a data waiver, when they implement the internal rating based approach. The consultation paper on ...

02 April 2014

Retired Member 

ACER publishes draft manual on trade reporting under REMIT

The Agency for the Cooperation of Energy Regulators (ACER) has launched a public consultation on its Trade Reporting User Manual (TRUM) for trade reporting under the Regulation for Wholesale Markets Integrity and Transparency (REMIT). Feedback is requested by 5 May 2014 and a public workshop has been organised in Ljubljana on 3 April 2014, from 12...

02 April 2014

Retired Member 

Commission adopts regulation on penalties for TR under EMIR

Under the Regulation on OTC derivatives, central counterparties and trade repositories (EMIR), the European Securities and Markets Authority (ESMA) is responsible for the registration and supervision of trade repositories and has the power to impose fines and periodic penalty payments to trade repositories. ESMA's powers to fine or impose penaltie...

01 April 2014

Retired Member 

IOSCO reaffirms commitment to global regulatory change

The International Organization of Securities Committees (IOSCO) has outlined the four dimensions it will seek to achieve in its role as a global reference point for securities regulators, the industry and policy makers: delivering on the G20 reform agenda; deepening capacity building in growth and emerging markets; defining regulatory priorities; ...

31 March 2014

Retired Member 

PRA confirms its statement of strategy

The Prudential Regulatory Authority (PRA) has published its statement of strategy for 2014/15. The document sets the following aims of the PRA, to: • continue to implement the forward-looking, judgement-based regulatory regime; • continue to implement changes to domestic, European and international regulation, including the Financial Services (Ban...

28 March 2014

Retired Member 

LEI common data format for pre-LOUs agreed

The Legal Entity Identifier (LEI) Regulatory Oversight Committee has issued a status report and accompanying table which sets out the basic elements of a common data format to be used by pre-local operating units (LOUs) as a standard for data publication in the interim global LEI system. The table produced by the Committee separates: - information...

27 March 2014