Hannah Meakin (UK)

Firm/Organization: Norton Rose Fulbright

Blogs: Financial services: Regulation tomorrow

Latest Articles

February 40 minute briefing seminar: Managing your relationship with the regulators

By Jonathan Herbst (UK), Hannah Meakin (UK), Imogen Garner (UK), Katie Stephen (UK), John Coley (UK) & Lisa Lee Lewis (UK)

January 20, 2020

Our extended 40 minute briefing on 5 February 2020 will be a practical workshop involving lawyers and compliance professionals leading roundtable discussions that provide insight into the FCA’s and PRA’s approach to the scenarios set out below and the good and poor practices they have observed from firms: Managing the supervisory relationship on a business-as-usual basis across a regulatory lifecycle; Skilled Person reviews: Common pitfalls to consider and their impact on firms; and Enforcement: Key…

Financial services: Regulation tomorrow

ESMA consults on the use of no data options in securitisation reporting

By Jochen Vester (UK) & Hannah Meakin (UK)

January 20, 2020

On 17 January 2020, the European Securities and Markets Authority (ESMA) published a consultation paper on guidelines on securitisation repository data completeness and consistency thresholds. Article 10(7) of the Securitisation Regulation requires ESMA to define regulatory technical standards (RTS) on securitisation repository procedures to “verify the completeness and consistency of the information” that they receive. On 12 November 2018, ESMA published and submitted a final report on securitisation repositories technical standards, which includes a set…

Financial services: Regulation tomorrow

IOSCO recommends synchronising clocks used for timestamping with UTC

By Hannah Meakin (UK)

January 17, 2020

On 16 January 2020, the International Organization of Securities Commissions (IOSCO) published a report recommending that trading venues and their participants synchronise the clocks they use for timestamping a reportable event with coordinated universal time (UTC). UTC is computed by taking the weighted average of more than 300 atomic clocks located in more than 80 timing laboratories around the world, including many of the IOSCO member jurisdictions. Although UTC itself is a paper timescale that…

Financial services: Regulation tomorrow

GFiN report on cross-border testing pilot lessons learned

By Hannah Meakin (UK) & Imogen Garner (UK)

January 17, 2020

On 16 January 2020, the Global Financial Innovation Network (GFiN) published a report on the lessons learned on the cross-border testing pilot. The GFiN was created to provide a more efficient way for innovative firms to interact with regulators, helping them navigate between countries as they look to scale and test new ideas. It also created a new means of co-operation between financial services regulators to work on innovation-related topics, sharing different experiences and approaches.…

Financial services: Regulation tomorrow

Next steps for LIBOR transition in 2020: the time to act is now

By Hannah Meakin (UK) & Davide Barzilai (UK)

January 16, 2020

On 16 January 2020, the Bank of England (BoE), Financial Conduct Authority (FCA) and the Working Group on Sterling Risk-Free Reference Rates (RFRWG) published the following documents outlining priorities and milestones for 2020 on LIBOR transition: RFRWG’2 2020 priorities and milestones. The top five RFRWG priorities are: (i) cease issuance of GBP LIBOR-based cash products maturing beyond 2021 by end Q3 2020; (ii) take steps throughout 2020 to promote and enable widespread use of…

Financial services: Regulation tomorrow

Working Group on Sterling Risk-Free Reference Rates market consultation published on credit adjustment spread methodologies

By Davide Barzilai (UK), Rebecca Oliver (UK) & Hannah Meakin (UK)

January 15, 2020

The Working Group on Sterling Risk-Free Reference Rates has published a market consultation on credit adjustment spread methodologies for fallbacks in cash products referencing GBP LIBOR to assist cash markets, including the syndicated lending market, consider methodologies for credit adjustment spreads for fallbacks from LIBOR to a SONIA-derived rate that operate from a trigger date on the cessation of LIBOR, or, before the cessation of LIBOR where triggered as a consequence of a regulatory announcement…

Financial services: Regulation tomorrow

New webinar recording – What’s in store for financial services firms in 2020?

By Jonathan Herbst (UK), Imogen Garner (UK), Hannah Meakin (UK), Katie Stephen (UK), Albert Weatherill (UK), Matthew Gregory (UK), John Coley (UK) & Lisa Lee Lewis (UK)

January 10, 2020

The recording from our latest 40 minute briefing webinar is now available. In this webinar our London team provides their views on what 2020 will bring to the following sectors: Market infrastructure; Asset management; Wholesale and retail banking; and FinTech, open banking and payments. The webinar concludes with some thoughts on key trends from an investigations and enforcement perspective. The webinar can be accessed here (register first, and it should play automatically).…

Financial services: Regulation tomorrow

ISDA guide to the cross-border application of US, EU and Japan margin rules for non-cleared derivatives

By Hannah Meakin (UK) & Hannah McAslan (UK)

January 8, 2020

On 6 January 2020, the International Swaps and Derivatives Association (ISDA) published a guide intended to provide a general overview of the cross-border application of certain margin rules for non-cleared derivatives. Given that a significant number of counterparties will fall within the scope of initial margin requirements for non-cleared derivatives in 2020 and 2021, the focus on the applicability of the rules to cross-border trading relationships has increased. However, analysing multiple foreign rule sets, identifying…

Financial services: Regulation tomorrow

ESMA report on CCPs’ membership criteria and due diligence

By Hannah Meakin (UK) & Hannah McAslan (UK)

January 8, 2020

On 7 January 2020, the European Securities and Markets Authority (ESMA) published a report on a survey it conducted into membership arrangements and due diligence by central counterparties (CCPs) towards their clearing members. The report is aimed at Member State national competent authorities, CCPs, individuals applying as a clearing member and non-financial counterparties applying or acting as a clearing member. The survey was in response to the default at Nasdaq Clearing AB in September 2018…

Financial services: Regulation tomorrow

January 40 minute briefing webinar: What’s in store for financial services firms in 2020?

By Jonathan Herbst (UK), Imogen Garner (UK), Hannah Meakin (UK), Katie Stephen (UK), Albert Weatherill (UK), Matthew Gregory (UK), John Coley (UK) & Lisa Lee Lewis (UK)

January 6, 2020

Our 40 minute briefing on 8 January 2020 will be a webinar and will focus on what 2020 has in store for financial services firms. Further information on the webinar can be found here. Online attendance only – please do not come to our offices.…

Hannah Meakin (UK)

February 40 minute briefing seminar: Managing your relationship with the regulators

ESMA consults on the use of no data options in securitisation reporting

IOSCO recommends synchronising clocks used for timestamping with UTC

GFiN report on cross-border testing pilot lessons learned

Next steps for LIBOR transition in 2020: the time to act is now

Working Group on Sterling Risk-Free Reference Rates market consultation published on credit adjustment spread methodologies

New webinar recording – What’s in store for financial services firms in 2020?

ISDA guide to the cross-border application of US, EU and Japan margin rules for non-cleared derivatives

ESMA report on CCPs’ membership criteria and due diligence

January 40 minute briefing webinar: What’s in store for financial services firms in 2020?

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