1 min read
Includes developments in relation to: sustainability reporting; ESG ratings; claims management companies; PSR; PSD3; EMIR 3; CCP recovery and resolution; Consumer Duty; GAP insurance; AML; MLD6; SARs regime; ransomware; sanctions; and misleading financial promotions.
General
- EU sustainability reporting standards - Council of the European Union and European Parliament reach provisional agreement on proposal to delay reporting for certain sectors and third-country companies by two years
- Proposed Regulation on ESG rating activities - Final compromise text published by Council of EU
- Claims management companies carrying out unregulated claims - FCA publishes findings from multi-firm review
Banking and Finance
- PSD3 and PSR - ECON votes to adopt draft reports
- Standards of Lending Practice - LSB publishes response to review
Securities and Markets
- Streamlining variation margin in centrally cleared markets - CPMI and IOSCO publish report outlining examples of effective practices
- EMIR 3 - Final compromise texts published by Council of EU
- CCP Recovery and Resolution Regulation - ESMA publishes official translations of guidelines
Asset Management
- Ongoing advice services and the Consumer Duty - FCA requests information
Insurance
- GAP insurance and fair value to customers - FCA announces suspension in sales
Financial Crime
- AML Regulation and MLD6 - Final compromise texts published by Council of EU
- SARs regime - Home Office publishes response to Law Commission review
- Ransomware and sanctions - HM Treasury and OFSI publish guidance
- Trading by organised crime groups - FCA publishes Market Watch No. 77
Enforcement
- Signing off misleading financial promotions - FCA fines and bans LC&F director
- Misleading advertisements and financial promotions - FCA publishes Q4 2023 data alongside 2023 data analysis