2 min read
Includes developments in relation to: critical third parties; DPM Alliance; CSDDD; PRA Rulebook; vulnerable customers; FCA business plan; insolvency; debt collection; CRR; IRRBB; instant credit transfers in euro; CMDI framework; consumer lending risks; regulated mortgage contracts; wholesale energy market manipulation; BMR; settlement cycle; MiFIR; AIFMD II; PRIIPs; retirement income advice; and AML/CTF.
General
- Digitalisation of critical shared services - FSB updates guidance on operational continuity
- DPM Alliance - EBA, ECB and EIOPA publish MoU
- CSDDD - New compromise text published by Council of EU
- Designation of critical third parties - HM Treasury publishes its approach
- Regulators’ exchange of competition and consumer protection related information - DBT launches consultation
- Website launch - New PRA Rulebook website
- Treatment of customers in vulnerable circumstances - FCA announces review
- Business Plan 2024/25 - published by the FCA
- Insolvency practitioners’ approach to regulated firms - FCA consults on amended guidance (GC24/1)
- Approach to supervision, consumers, competition and international firms - FCA updates materials
- Debt collection best practices - FCA and other regulators publish expectations
Banking and Finance
- CRR - European Commission adopts ITS on IRRBB reporting requirements
- Regulation on instant credit transfers in euro - Revised text published
- CMDI framework reforms - ECON votes to adopt proposals
- Joint Bank Reporting Committee - established by ECB and EBA
- Consumer lending - FCA publishes portfolio letter setting out risks
- Kumar and others v LSC Finance Ltd, [2024] EWCA Civ 254
Securities and Markets
- Wholesale energy markets - Council of the EU adopts Regulation protecting against manipulation
- BMR - ECON publishes report on proposed amendments
- Shortening the settlement cycle - ESMA publishes feedback statement to call for evidence
- MiFIR market data access and transparency - ESMA to clarify incoming rule changes
Asset Management
- AIFMD II - Council publishes revised text
- PRIIPs and retail investment protection - ECON votes to adopt proposals
- Severe but plausible scenarios in the context of operational resilience - IA publishes guidance
Insurance
- Retirement income advice - FCA publishes thematic review and Dear CEO letter
Financial Crime
- Countering terrorist financing - Statement published by Wolfsberg Group
Enforcement
- Cum-ex trading scheme - FCA publishes Decision Notice