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Includes developments in relation to: DORA; Basel Core Principles; LIBOR; Solvency II; and sanctions.
General
- DORA - European Commission adopts Delegated Regulation specifying the criteria for designation of ICT third-party service providers as critical for financial entities
- Sexism in the City Inquiry - House of Commons Treasury Committee publishes correspondence with the FCA and HM Treasury following oral hearing
Beyond Brexit
- Draft Financial Services and Markets Act 2000 (Disapplication or Modification of Financial Regulator Rules in Individual Cases) Regulations 2024 published
Banking and Finance
- Basel Core Principles - BCBS approves final revisions
- MREL - European Parliament adopts proposed Directive on MREL reforms to BRRD and SRM
- De-Banking - House of Commons Treasury Committee publishes press release and correspondence regarding levels of SME accounts being closed by major banks
Securities and Markets
- Wholesale Data Market Study - FCA publishes report
- BMR - FCA publishes report on review of use of its Article 23D power for 3-month synthetic sterling LIBOR
Asset Management
- AIFMD and UCITS Directive - Council of EU adopts amending Directive
Insurance
- Adapting Solvency II to the UK insurance market - The PRA publishes its second policy statement
- Solvency II - PRA publishes policy statement setting out final reporting and disclosure policy (PS3/24)
Financial Crime
- AMLA - Frankfurt to host the EU’s new AML authority
- Russia sanctions regime - House of Commons Treasury Committee publishes Call for Evidence on effectiveness
Enforcement
- Enforcement Guide - FCA consults on a new approach to publicising enforcement investigations