Imogen Garner (UK)

Firm/Organization: Norton Rose Fulbright

Blogs: Financial services: Regulation tomorrow

Latest Articles

EBA action plan on sustainable finance

By Imogen Garner (UK) & Simon Lovegrove (UK)

December 9, 2019

On 6 December 2019, the European Banking Authority (EBA) published its action plan on sustainable finance outlining its proposed timeline for delivering mandates relating to environmental, social and governance (ESG) factors. The EBA’s remit and mandates on ESG factors and risks are set out in the following legislative acts: the amended Regulation establishing the EBA; the revised Capital Requirements Regulation (CRR II) and Capital Requirements Directive (CRD V); the new Investment Firms Regulation (IFR) and…

Financial services: Regulation tomorrow

GFXC agrees priorities for updating the FX Global Code

By Imogen Garner (UK)

December 5, 2019

On 4 December 2019, the Global Foreign Exchange Committee (GFXC) published a press release setting out its priorities for updating the FX Global Code (the Code). Following the first day of its two-day meeting held in Sydney on 4-5 December, the GFXC discussed the feedback received on the Code and agreed to focus its work on the following areas: buy-side outreach: the GFXC intends to publish materials from its working group on buy-side outreach in…

Financial services: Regulation tomorrow

40 minute briefing on 4 December – Going green: ESG reforms

By Hannah Meakin (UK), Imogen Garner (UK), Hannah McAslan (UK) & Daniel Nevzat (UK)

December 3, 2019

Our 40 minute briefing on 4 December will be a seminar, we hope to see you at our London offices. In this briefing members from our Financial Services team and Government Relations team will discuss the EU legislative measures on sustainable finance and the latest green communications from the PRA and FCA. To register your place for the briefing please click here.…

Financial services: Regulation tomorrow

MiFID investment firms will need to use a new form to notify FCA of management body changes for non-SMF directors

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

December 3, 2019

On 2 December 2019, the FCA published an update on its website reminding solo regulated MiFID investment firms and MiFID optional exemption firms (except credit institutions) that, from 9 December 2019, they need to use a new form to submit information to the FCA when appointing non-SMF directors to, or withdrawing them, from their management body. A preview of the form is available and firms will be able to download it from the FCA Handbook…

Financial services: Regulation tomorrow

Next 40 minute briefing (4 December) – Going green: ESG reforms

By Imogen Garner (UK), Hannah Meakin (UK), Daniel Nevzat (UK) & Hannah McAslan (UK)

November 26, 2019

Our next 40 minute briefing will be a seminar. In this briefing members from our Financial Services team and Government Relations team will discuss the EU legislative measures on sustainable finance and the latest green communications from the PRA and FCA. To register your place for the briefing please click here.…

Financial services: Regulation tomorrow

ECB speech on regulation, proportionality and the sustainability of banking

By Imogen Garner (UK)

November 22, 2019

On 21 November 2019, the European Central Bank (ECB) published a speech given by Andrea Enria, Chair of the Supervisory Board of the ECB, at the European Savings and Retail Banking Group Conference, “Creating sustainable financial structures by putting citizens first” focusing on banking reforms, the case for a proportionate approach to regulation and sustainable finance. Mr Enria acknowledges the lengthy implementation process of the Basel III reforms and that there is not a consensus…

Financial services: Regulation tomorrow

FSB letter to ISDA on the addition of a pre-cessation trigger

By Imogen Garner (UK)

November 20, 2019

On 19 November 2019, the Financial Stability Board (FSB) published a letter (dated 15 November 2019) from the co-chairs of its Official Sector Steering Group (OSSG) of regulators and central banks to the International Swaps and Derivatives Association (ISDA). In the letter the co-chairs of the OSSG thank the ISDA for its work on more robust fallback language for derivatives referencing key Interbank Offered Rates (IBORs). They add that an important consideration to reduce systemic…

Financial services: Regulation tomorrow

Investment Association launches industry-wide definitions on responsible investment

By Imogen Garner (UK)

November 20, 2019

On 18 November 2019, the Investment Association (IA) launched an industry-wide framework aiming to categorise definitions relating to responsible investment. The IA’s responsible investment framework categorises, and provides standard definitions for, the different components of responsible investment. The framework is embedded in a report that intends to provide context, guidance and uses for the framework. The framework itself can be found in section 4.2 of the report. A glossary appended to the report defines and…

Financial services: Regulation tomorrow

Report by the ECB working group on euro risk-free rates on fallback arrangements for €STR

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

November 14, 2019

On 12 November 2019, the working group on euro risk-free rates published a report on fallback arrangements for the euro short-term rate (€STR). The report provides supervised entities with guidance on potential ways to comply with Article 28.2 of the EU Benchmarks Regulation (BMR) when using the euro short-term rate (€STR), as the euro risk-free rate, in contracts. Article 28.2 of the BMR requires supervised entities to have robust written plans setting out the actions…

Financial services: Regulation tomorrow

New Global Asset Management webinar: Europe – Member State domestic regimes

By Imogen Garner (UK)

November 13, 2019

In the second webinar of our global asset management series, our team from the UK, Germany, France, the Netherlands, Italy and Luxembourg provide their insight and views on their domestic regime’s approach to marketing, investors and structure. The webinar can be viewed here. For further information, please visit our Asset Management Regulation hub that houses all of all knowledge materials in this area including our AIFMD surveys, our global asset management quarterly updates, AIFMD…

Imogen Garner (UK)

EBA action plan on sustainable finance

GFXC agrees priorities for updating the FX Global Code

40 minute briefing on 4 December – Going green: ESG reforms

MiFID investment firms will need to use a new form to notify FCA of management body changes for non-SMF directors

Next 40 minute briefing (4 December) – Going green: ESG reforms

ECB speech on regulation, proportionality and the sustainability of banking

FSB letter to ISDA on the addition of a pre-cessation trigger

Investment Association launches industry-wide definitions on responsible investment

Report by the ECB working group on euro risk-free rates on fallback arrangements for €STR

New Global Asset Management webinar: Europe – Member State domestic regimes

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