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 

ESMA publishes EMIR implementation actions on CCP regime

The European Securities and Markets Authority (ESMA) as required under the European Markets Infrastructure Regulation (EMIR) has published: A report containing guidelines and recommendations for establishing consistent, efficient and effective assessments of interoperability arrangements The guidelines and recommendations apply to national compet...

03 July 2013

Retired Member 

Consequences of PRA implementation of CRD IV

The Prudential Regulation Authority (PRA) intends to require banks to deduct from Common Equity Tier 1 significant investments in insurance companies above threshold allowances under its implementation of CRD IV/CRR. This will apply both to banking groups with an investment in an insurance company and to solo banks with an investment in an insura...

02 July 2013

Retired Member 

FCA's enforcement priorities for the coming year

The Financial Conduct Authority (FCA) Head of Enforcement in a speech provided details of FCA’s enforcement priorities for the coming year. She emphasised that there would be earlier engagement by enforcement teams with firms and that a more interactive approach should be expected. The emphasis on the culture in firms and senior management’s res...

01 July 2013

Retired Member 

EMIR, new deadline for advice on US and Japanese regimes

The European Commission has sent a letter to the Chair of the European Securities and Markets Authority (ESMA) revising its request for technical advice on the equivalence between certain third country legal and supervisory frameworks and the European Market Infrastructure Regulation (EMIR). The Commission has revised the deadline for ESMA’s ad...

01 July 2013

Retired Member 

FCA Policy development update

The Financial Conduct Authority (FCA) published Policy Development Update no 2. This details the timetable for forthcoming publications including in: Q2 2013 a Feedback Statement to DP13/1 on “How the FCA could be more transparent” Q3 2013 a Regulatory Guide on publishing information about warning notices Q3/4 2013 a Policy Statement on Solvency ...

27 June 2013

Retired Member 

Fact sheet on Short Selling Regulation now published by FCA

New forms for short selling notifications post 10 June 2013 were recently published by the Financial Conduct Authority (FCA). The website has now been updated to include a Fact sheet on Short Selling which provides more guidance on the regime and the registration and notification requirements including how to correct or delete an incorrect notific...

26 June 2013

Retired Member 

Combat Offences: EU Parliament Special Committee Report

The European Parliament's special committee on organised crime, corruption and money laundering has voted to adopt an interim report which includes recommendations on actions and initiatives to be taken to combat these offences. The report calls for the financial sector to: determine which IT tools might be used to ensure the traceability of fin...

14 June 2013

Retired Member 

European Commission Roadmap and EU Banking Reform

The European Commission (EC) has published a roadmap for a legislative proposal for the structural reform of EU banks. The expert group on reforming the structure of the EU banking sector had stated that reforming the structure of banks was necessary to complement the existing EU reforms taking place as they do not address all the underlying prob...

13 June 2013

Retired Member 

EU and current European System of Financial Supervision

The EU has published a consultation document seeking feedback on the effectiveness and efficiency of the European Supervisory Authorities (ESAs) - the European Banking Authority, the European Securities and Markets Authority (which is responsible for implementation of EMIR) and the European Insurance and Occupational Pensions Authority - and the E...

11 June 2013

Retired Member 

SEC proposals for cross-border security based swap activity

The Securities and Exchange Commission (SEC) has proposed detailed criteria which set out which regulatory requirements will apply when a transaction occurs partially within and partially outside the U.S. The proposed rules also detail when security-based swap dealers, major security-based swap participants, and other entities — such as clearing ...

31 May 2013