On 12 August 2022, the Joint Money Laundering Steering Group (JMLSG) published revisions to Part II Sector 11 Annex 11- I. This is the Finance and Leasing Association standard for the prevention of financial crime and terrorist financing in motor
Financial services: Regulation tomorrow
Tracks financial services regulatory developments and provides insight and commentary
Blog Authors
Latest from Financial services: Regulation tomorrow
FCA updates TPR webpages
On 12 August 2022, the FCA updated the following webpages on the temporary permissions regime (TPR):
- Considerations for firms leaving the TPR – Under the section, ‘Firms that previously passported into the UK under schedule 3 or schedule 4 to
…
Commission Delegated regulation specifying the calculation methods of gross jump-to-default amounts for exposure to default risk arising from certain derivative instruments, and specifying the determination of notional amounts of instruments other than the instruments referred to in Article 325w(4) of the CRR
On 11 August 2022, the European Commission published a Commission Delegated Regulation supplementing the Capital Requirements Regulation (CRR) with regard to regulatory technical standards specifying the calculation methods of gross jump-to-default (JTD) amounts for exposures to debt and equity instruments…
Bank of England letter on the Financial Services and Markets Bill
On 11 August 2022, the House of Commons’ Treasury Committee published a letter from the Bank of England (BoE) regarding the Financial Services and Markets Bill.
In the letter the BoE welcomes the Future Regulatory Framework measures contained in the…
FCA updates webpages – cryptoassets
On 11 August 2022, the FCA updated the following webpages:
- Requirements for a change in control– The webpage now provides that, an FCA registered cryptoasset firm (i.e. a cryptoasset exchange provider and/or a custodian wallet provider) is subject to
…
ESMA MoU with South Africa’s Financial Sector Conduct Authority, Prudential Authority and the South African Reserve Bank
On 11 August 2022, the European Securities and Markets Authority (ESMA) published a Memorandum of Understanding (MoU) between itself and South Africa’s Financial Sector Conduct Authority, Prudential Authority and the South African Reserve Bank related to central counterparties (CCPs) established…
ESMA updates list of third-country CCPs recognised to offer services and activities in the EU
On 11 August 2022, the European Securities and Markets Authority published an updated list of third-country central counterparties recognised to offer services and activities in the EU in accordance with the European Markets Infrastructure Regulation.
Cryptoasset providers: Impact of the amendments to the MLRs 2017
In June, HM Treasury issued its response to its October 2021 consultation on amendments to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs 2017). The response contained a number of updates to…
Commission report on the treatment of CCP equity in the write-down and conversion tool under the Regulation on CCP recovery and resolution
On 10 August 2022, the European Commission published a report to the European Parliament and the Council on the treatment of central counterparty (CCP) equity in the write-down and conversion tool under the Regulation on CCP recovery and resolution (CCP-RRR).…
House of Commons’ Treasury Sub-Committee on Financial Services Regulations publishes letter to the PRA regarding the ‘Strong and Simple Framework’
On 10 August 2022, the House of Commons’ Treasury Sub-Committee on Financial Services Regulations published a letter addressed to the Prudential Regulation Authority (PRA) regarding the ‘Strong and Simple Framework’.
The letter sets forth that on 20 July 2022, the…