FS Regulatory Update: 20th May 2016 Welcome to this week’s edition of our FS Regulatory Update and Calendar, your weekly guide to key UK, pan-EU and global regulatory developments Sectors   Topic Description and link Regulator Asset M. Banking Insurance Region Date Impact Retail Products CMA’s provisional decisions on remedies to reform retail banking Link CMA n UK 17/05 High FCA thematic review – The impact of the Mortgage Market Review (MMR) Link FCA 16/05 Medium FCA feedback statement - Call for Inputs on competition in the mortgage sector Link Corporate Governance Policy statement - Implementing audit committee requirements under the revised Statutory Audit Directive Link PRA 18/05 Accounting IFRS 9 and the benefits of a holistic GFRC model Link IASB EU Low IFRS 9 Phase 1 Implementation will have a negative impact on Asset Management Industry Link Solvency II ABI’s response to EIOPA’s consultation on corporate infrastructure Link EIOPA Capital EBA’s report on unsolicited credit assessments of certain ECAI’s Link EBA Auditors Audit legislation - Negligence & Accountability speech by Stephen Hadrill, CEO FRC Link FRC 12/05 Cyber Security Financial Services companies underestimate insurance cover against cyber security attacks Link EU wide cybersecurity rules adopted by Council of the EU Link Market Infrastructure Council of the EU adopts tougher rules to ensure robust & reliable instrument benchmarks Link ESMA 1705 ECB consultation to further harmonise supervision of significant banks in the euro area Link MiFiD II Council of the EU confirms agreement on one-year delay to new securities market rules Link 1805 Liquidity Report on impact of regulatory change on liquidity in euro & US dollar IRS markets Link FCC Global 10/05 Islamic Finance Regulator forum - “Islamic Finance, 2016: Challenges, Opportunities & Evolving Regulatory Focus” Link IFSB Fraud BBA’s State of Fraud Report – why attacks are more common in the UK than the US Link Reporting Insurance Europe publishes extensive database with figures on the European industry 2004-14 Link ESMA risk dashboard report for Q1 2016 Link 11/05 

FS Regulatory Update Consultations closing soon We track key regulatory updates from the following UK, pan-European and global institutions and associations ABI ACER AFME BBA BCBS BoE CMA CoEU CPMI EBA EBF EC ECB ECON EIOPA EP EPC ESMA ESRB EU FATCA Association of British Insurers Agency for the Cooperation of Energy Regulators Association for Financial Markets in Europe British Banking Association Basel Committee on Banking Supervision Bank of England Competition and Markets Authority Council of the EU Committee on Payments and Market Infrastructures European Banking Authority European Banking Federation European Commission European Central Bank Economic and Monetary Affairs Committee of the European Parliament European Insurance and Occupations Pension Authority European Parliament European Payment Council European Securities and Markets Authority European Systemic Risk Board European Union Financial Action Task Force FCA FIA FOS FPC FRC FSB FSCS G20 HFSB HMRC HMT IAIS IBA IE IFSB IMF IOSCO JCESAs MAS PUK WB Financial Conduct Authority Futures Industry Association Financial Ombudsman Service Financial Policy Committee Financial Reporting Council Financial Stability Board Financial Services Compensation Scheme Group of 20 countries Hedge Fund Standards Board Her Majesty's Revenue and Customs Her Majesty's Treasury International Association of Insurance Supervisors ICE Benchmark Administration Insurance Europe Islamic Financial Services Board International Monetary Fund International Organisation of Securities Commissions Joint Committee of the European Supervisory Authorities Money Advice Service Payments UK World Bank Consultations closing soon 06/07/16: EBA’s Draft regulatory technical standards for determining proxy spread and limited smaller portfolios for credit valuation adjustment under Article 383(7) of the CRR Link 06/07/16: BCBS’s Revisions to the Basel III leverage ratio framework Link 10/07/16: EPC’s Consultation on SEPA instant credit transfer scheme rulebook Link 15/07/16: PRA’s CP16/16: Solvency II: matching adjustment Link 14/07/16: FCA’s CP16/10: Proposed implementation of the Enforcement Review and the Green Report Link 15/07/16: BCBS’s Consultation on prudential treatment of problem assets – definitions of non-performing exposures and forbearance Link