Financial Regulation Weekly Bulletin – 11 January 2024

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Includes developments in relation to: European single access point; Rule Review Framework; CRD IV; Financial Conglomerates Directive; UK Special Resolution Regime; IRB approaches; MiFID II; MiFIR; CCP Special Resolution Regime; DAML exemptions; and motor finance complaints.

General

  • European single access point - ESAs launch consultation
  • Rule Review Framework - final version published by FCA

Banking and Finance

  • Supervisory colleges under CRD IV - EBA publishes draft RTS and ITS
  • FRTB reporting - EBA publishes draft ITS
  • Financial conglomerates - ECB publishes final guide on significant risk concentrations and intragroup transactions
  • Enhancing the Special Resolution Regime - HM Treasury launches consultation
  • Resourcing of approvals of IRB approaches and impact of countercyclical capital buffer - PRA responds
  • Supervision of UK deposit-takers - PRA sets out priorities for 2024 in Dear CEO letter
  • Supervision of international banks - PRA sets out 2024 priorities in Dear CEO letter
  • Supply of card-acquiring services - PSR consults on changes to specific directions

Securities and Markets

  • Post-trade transparency under MiFID II and MiFIR - ESMA updates manual
  • MiFIR waivers from pre-trade transparency - ESMA updates opinion 
  • MiFID II - ESMA announces common supervisory action on pre-trade controls
  • CCP Special Resolution Regime - HM Treasury publishes Code of Practice

Insurance

  • Supervision of insurers - PRA sets out 2024 priorities in Dear CEO letter

Financial Crime

  • Money laundering reporting in relation to DAML exemptions - Home Office publishes guidance

Enforcement

  • Conduct rule breaches - PRA publishes final notice and imposes financial penalty with respect to former bank CEO
  • Motor finance - FCA announces new work and publishes Policy Statement (PS24/1) introducing temporary changes