Financial Regulation Weekly Bulletin - 7 March 2024

1 min read

Includes developments in relation to: financial promotions; UK Listing Rules; PSR; PSD3; G-SIB assessments; CRR; Benchmarks Regulation; PISCES; UK EMIR; asset management supervision; EDIS; value for money framework; sanctions; and AML.

General

  • Data and analytics strategy - Bank of England speech delivered
  • Changes to Financial Promotion Order exemptions - SI made and FCA statement published
  • Detailed proposals for reform of the listing rules - published by the FCA
  • Wind-down planning - FCA publishes new webpage
  • Bank of England’s approach to legal, ethical and staff compliance risks - NAO publishes report

Banking and Finance

  • PSR and PSD3 - ECON publishes adopted texts
  • Revised G-SIB assessment framework - BCBS launches consultation
  • CRR - EBA launches consultation on off-balance sheet items under the standardised approach to credit risk

Securities and Markets

  • Benchmarks Regulation - ECON votes to adopt draft report on proposed amending Regulation
  • Private Intermittent Securities and Capital Exchange System (PISCES) - HM Treasury consults
  • UK EMIR reporting requirements - FCA consults on Q&As

Asset Management

  • Reserved investor fund - HM Treasury announces tax rules
  • Asset management supervision strategy - FCA publishes portfolio letter

Insurance

  • Legislative proposal for European Deposit Insurance Scheme - ECON publishes draft report
  • Pension scheme asset disclosure and value for money framework - Chancellor announces reforms

Financial Crime

  • The Economic Crime and Corporate Transparency Act 2023 (Commencement No. 2 and Transitional Provision) Regulations 2024
  • Sanctions and Anti-Money Laundering Act 2018 - Post-Legislative Scrutiny Memorandum: published
  • AML framework failings - FCA publishes Dear CEO letter to Annex 1 firms

Enforcement

  • Woodford Equity Income Fund redress - FCA provides update