On 30 November 2023, the FCA published the latest edition of the Regulatory Initiatives Grid from the Financial Services Regulatory Initiatives Forum. The Forum is made up of representatives of the Bank of England, the Competition and Markets Authority, the
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FCA publishes statement on communications in relation to PRIIPs and UCITS
By Emily Stone
On 30 November 2023, the FCA published a statement on communications in relation to packaged retail and insurance-based investment products (PRIIPs) and undertakings for collective investment in transferable securities (UCITS).
The statement relates to concerns raised about costs and charges…
BoE consults on codes of practice for wholesale cash distribution market oversight
By Emily Stone
On 30 November 2023, the Bank of England (BoE) issued a consultation paper on codes of practice for wholesale cash distribution market oversight.
Legislation provides that the BoE must consult on codes of practice that it wishes to publish under…
SRB Annual Work Programme 2024
On 30 November 2023, the Single Resolution Board (SRB) published its Annual Work Programme for 2024.
The Annual Work Programme 2024 will be completed early next year with a multi-annual work programme for the SRB, based on the 2023…
EBA publishes COP 28 statement
On 30 November 2023, the European Banking Authority (EBA) published a statement in the context of COP 28. In its statement, the EBA highlights its efforts to integrate sustainability aspects in many areas of its work, including risk management, disclosures,…
House of Commons Environmental Audit Committee publishes report on the financial sector and the UK’s net zero transition
On 29 November 2023, the House of Commons Environmental Audit Committee published its report on the financial sector and the UK’s net zero transition.
The report follows an inquiry, launched by the Committee in May 2022 to examine the role…
European Commission publishes targeted consultation document: Selection of a unique product identifier for public transparency in OTC derivatives transactions
On 29 November 2023, the European Commission published a targeted consultation document – Selection of a unique product identifier for public transparency in over-the-counter (OTC) derivatives transactions.
The provisional agreement on the reform of the Markets in Financial Instruments Regulation…
EBA consults on draft RTS on the conditions for assessing the materiality of extensions and changes to the use of alternative internal models and changes to the subset of the modellable risk factors referred to in Article 325bc under Article 325az(8)(a) of the CRR
On 29 November 2023, the European Banking Authority (EBA) published a consultation paper on draft regulatory technical standards (RTS) on the conditions for assessing the materiality of extensions and changes to the use of alternative internal models and changes to…
Basel Committee consultative document – Disclosure of climate-related financial risks
On 29 November 2023, the Basel Committee on Banking Supervision (Basel Committee) published a consultative document – Disclosure of climate-related financial risks.
The Basel Committee is analysing how a Pillar 3 disclosure framework for climate-related financial risks would further its…
FCA consults on capital deduction for redress: personal investment firms
On 29 November 2023, the FCA published Consultation Paper CP23/24 on Capital deduction for redress: personal investment firms (PIFs).
The consultation sets out the FCA’s proposals to require PIFs to be more prudent and set aside capital for potential redress…