Topic
Ring-fencing
32 published works
Global Regulation Tomorrow
Members of the ring-fencing and proprietary trading independent review panel announced and Terms of Reference for the review published
On 2 February 2021, HM Treasury announced that John Flint, Patrick Honihan, Betsy Nelson, Preben Prebensen and Linda Yueh have been appointed as members of the independent review panel on…
Cov Financial Services
Recent Developments on the German Ringfencing Regulation
By Covington Financial Services
I. The German Ringfencing Act As a reaction to the financial crisis in 2007/2008 and to address risks in connection with the “too big to fail” phenomena, the German legislature…
The CLS Blue Sky Blog
The Faulty Governance of Ring-Fenced Banks in the UK
By Thom Wetzer
A key policy of UK financial regulation since the financial crisis has been the ring-fencing of retail banks into separate and independently operated entities, so-called “ring-fenced bodies” (RFBs), distinct from…
Banking, Finance and Securities
PRA summary of regulatory reporting requirements for ring-fencing
On 31 October 2018, the Prudential Regulation Authority (PRA) published a pack detailing new regulatory reporting requirements for ring-fencing (the Pack). The Pack is aimed at UK banking groups in…
Banking, Finance and Securities
Draft Ring-fenced Bodies (Amendment) (EU Exit) Regulations 2018
On 22 October 2018, HM Treasury published explanatory information on the draft Ring-fenced Bodies (Amendment) (EU Exit) Regulations 2018 (the draft Regulations) The draft Regulations will form part of a…
Banking, Finance and Securities
Financial Services and Markets Act 2000 (Ring-fenced Bodies and Core Activities) (Amendment) Order 2018
On 24 July 2018, the Financial Services and Markets Act 2000 (Ring-fenced Bodies and Core Activities) (Amendment) Order 2018 (SI 2018/897) (Amendment Order) was published. The Amendment Order, which comes…
Banking, Finance and Securities
Modification by consent: SYSC 22.2.1R
The FCA has published a modification by consent to SYSC 22.2.1R. The modification applies to a firm that is receiving employees from another part of their group who are being…
Banking, Finance and Securities
New PRA webpage on serving written statements on ring-fencing transfer schemes
The PRA has published a new webpage setting out information on how to serve it with copies of written statements relating to a bank’s ring-fencing transfer scheme (RFTS). On its…
Banking, Finance and Securities
Bank of England speech on ring-fencing implementation
By Simon Lovegrove (UK), Charlotte Henry, Matthew Gregory (UK)
The Bank of England (BoE) has published a speech on ring-fencing by James Proudman, BoE Executive Director, UK Deposit Takers Supervision. At the beginning of his speech Mr Proudman notes…
Banking, Finance and Securities
HM Treasury publishes draft statutory instrument amending UK Bank ring-fencing regime
HM Treasury has published the draft Financial Services and Markets Act 2000 (Ring-fencing Bodies, Core Activities, Excluded Activities and Prohibitions) (Amendment) Order 2016 (draft Order) together with a draft explanatory…