1. 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 Link
ESMA risk dashboard report for Q Link
11/05 

2. 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