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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.

originally founded 01 Jul 2010

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BCBS consults on Liquidity Coverage Ratio

The Basel Committee on Banking Supervision (BCBS) has published a consultation paper on Liquidity Coverage Ratio (LCR) disclosure standards. It is considered that public disclosure improves transparency, reduces uncertainty in the markets and strengthens market discipline. It is important that banks adopt a common disclosure framework to help m

10 September 2013

Retired Member

EBA publishes questions and answers on FINREP

The European Banking Authority (EBA) has published answers to the following questions regarding the single rulebook: whether lending institutions must obtain a legal opinion in order to rely on their credit protection techniques for the purposes of the Capital Requirements Regulation (CRR) and the form such an opinion should take (Q 23); the appli...

09 September 2013

Retired Member

PRA consults on implementation of CRD IV

In this consultation the Prudential Regulation Authority (PRA) sets out the proposed changes to its rules to implement CRD IV. Proposed supervisory statements are made giving more information on the PRA’s approach to certain CRD IV provisions. All banks, building societies and PRA designated investment firms are affected by these proposals. The...

09 September 2013

Retired Member

FCA consults on implementation of CRD IV

CRD IV is the EU implementation of Basel III for banks, which affects approximately 2,400 investment firms that are prudentially regulated by the FCA. It comprises two sections: the Capital Requirements Regulation (CRR) and the Capital Requirements Directive (CRD). The CRR is directly binding on firms as an EU regulation. The scope of this cons...

06 September 2013

Retired Member

EMIR: delegated regulations adopted

The European Commission has adopted: a delegated regulation amending the European Markets Infrastructure Regulation (EMIR) to exempt the central banks and debt management offices of Japan and the United States. The Commission will monitor and report on the developments in finalising OTC derivatives rules in other G20 jurisdictions and will exempt...

06 September 2013

Retired Member

MiFID: approach to rolling spot forex clarified

The European Commission has published a new answer in its Q&As on the Markets in Financial Instruments Directive (MiFID). This is about whether a rolling spot foreign exchange on margin takes the form of a derivative contract or a contract for difference to be considered a financial instrument under MiFID. The Q&A explains that as oppose

05 September 2013

Retired Member

HMRC consults on Taxation of Regulatory Capital Securities

HM Revenue and Customs (HMRC) has published a draft of the Taxation of Regulatory Capital Securities Regulations 2013. The Regulations set out provisions in relation to the taxation of Additional Tier 1 and Tier 2 regulatory capital securities that financial institutions need to issue to meet their regulatory requirements. The Regulations are int...

05 September 2013

Retired Member

RBS fined by FCA

RBS transaction reporting fine emphasises that FCA expects firms to get it right: The Financial Conduct Authority (FCA) has announced that it has fined the Royal Bank of Scotland (RBS) £5,620,300 for incorrectly reporting transactions it made in wholesale markets, and in some instances, failing to report transactions at all. RBS agreed to settle ...

04 September 2013

Retired Member

FCA sets out its approach to advancing its objectives

Release from the FCA on how it intends to deliver on its responsibilities, will be very interesting to see how much of this is reiterated in the Regulation and Rebuilding Trust plenary session at Sibos on Weds 18th Sept. What feedback will the panel provide and where do they see the key challenges and conflicts with the national regulators? If yo...

03 September 2013 /sibos

Retired Member

IOSCO publishes paper with the WFE

The International Organization of Securities Commissions (IOSCO) published a working paper, with the World Federation of Exchanges (WFE), on cyber-crime, securities markets and systemic risk. The report explores the evolving nature of cyber-crime in securities markets and the threat it poses to the functioning of markets. This first report found ...

03 September 2013