The Prudential Regulation Authority (PRA) has published a ‘Dear CEO’ letter written by Anna Sweeney and Charlotte Gerken, co-Executive Directors for Insurance Supervision at the PRA. The letter sets out the supervisory priorities for life and general insurance firms in
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FOS responds to Treasury Committee
On 12 January 2022, the Financial Ombudsman Service published a letter (dated 17 December 2021) containing its responses to a series of questions it had received from the House of Commons’ Treasury Committee on its Action Plan. Among other things…
PSR launches new strategy
On 13 January 2022, the Payments System Regulator (PSR) launched a new strategy setting out their key priorities and what they aim to achieve over the next five years.
The four strategic priorities are:
…
IOSCO consults on lessons learned from the operational resilience of trading venues and market intermediaries during the pandemic
On 13 January 2022, the International Organization of Securities Commissions (IOSCO) issued a consultation report seeking feedback on the lessons learned regarding the operational resilience of trading venues and market intermediaries during the COVID-19 pandemic.
The consultation report concludes that…
EBA publishes Guidelines for institutions and resolution authorities on improving banks’ resolvability and consults on transferability
On 13 January 2022, the European Banking Authority issued final guidelines for institutions and resolution authorities on improving banks’ resolvability.
The guidelines take stock of the best practices developed so far by EU resolution authorities on resolvability topics and set-out…
Commission adopts new Delegated Regulation amending the regulatory technical standards as regards adjustment the liquidity thresholds and trade percentile used to determine the size specific to the instrument applicable to certain non-equity instruments
On 13 January 2022, the European Commission adopted a Delegated Regulation amending the regulatory technical standards laid down in Delegated Regulation (EU) 2017/583 (RTS 2) regarding transparency requirements for trading venues and investment firms in respect of bonds, structured finance…
House of Lords’ report – Central bank digital currencies: a solution in search of a problem?
On 13 January 2022, the House of Lords’ Economic Affairs Committee (Committee) published a report ‘Central bank digital currencies: a solution in search of a problem?’. The report states that their Lordships have yet to hear a convincing…
FCA statement – Supervisory flexibility on the short selling indicator
On 13 January 2022, the FCA issued a new web page stating that it is putting in place temporary measures for the reporting of the short selling indicator in transaction reports while it considers changes to the UK transaction reporting…
MIFIDPRU Remuneration Code (SYSC 19G)
On 13 January 2022, the FCA published a new webpage concerning the MIFIDPRU Remuneration Code which applies to MiFIDPRU investment firms for performance periods starting on or after 1 January 2022. The core requirements in the MIFIDPRU Remuneration Code apply…
HKMA issues discussion paper on crypto-assets and stablecoins
Introduction
The Hong Kong Monetary Authority (HKMA) issued a discussion paper on 12 January 2022 in which it sets out its views on how to expand Hong Kong’s regulatory framework for crypto-assets. The discussion paper joins a number of papers…