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24 November 2016

Friends 'Weekly' Newsletter


Capital requirements, bank resolution, money laundering, G-SIB, EMIR Review, CMU, results of Call for Evidence, FCA, UCITS, Brexit and more.

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Banking Securities Insurance
Asset Management Financial Services Policy Political
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  Articles from 17 November 2016 - 24 November 2016

  Banking
 
 
Commission proposes new rules on banks and announces further measures to fine-tune the EU financial regulatory framework
The new proposals amend the rules on capital requirements and on bank recovery and resolution.
EBA publishes list of public sector entities for the calculation of capital requirements
The EBA published the list of PSEs that may be treated as regional governments, local authorities or central governments in the area of credit risk, in accordance with the CRR. This list will assist EU institutions in determining their capital requirements for credit risk.
BCBS: Proposals clarify rules on combating money laundering and terrorist financing in correspondent banking
Banks will have clearer guidance on how to best manage risks related to money laundering and the financing of terrorism under proposals issued by the Basel Committee on Banking Supervision.
EBA publishes final standards on assessment methodology to validate market risk models
These draft RTS ensure consistency in models' outputs and comparability of risk-weighted exposures and will contribute to harmonise the supervisory assessment methodology across all EU Member States and to restore confidence in the use of such models for regulatory purposes.
FSB publishes 2016 G-SIB list
The Financial Stability Board (FSB), in consultation with the Basel Committee on Banking Supervision (BCBS) and national authorities, published the 2016 list of global systemically important banks (G-SIBs).
BCBS: Further details on the assessment of global systemically important banks
In connection with today's publication by the Financial Stability Board of the updated list of global systemically important banks (G-SIBs), the Basel Committee on Banking Supervision has released further information related to the 2016 G-SIB assessment.
 
  Securities
 
 
European Commission: EMIR Review
Complementing the follow-up to the Call for Evidence, the Commission has today also published a report on the review of EMIR, the Regulation on Over-The-Counter (OTC) derivatives, central counterparties and trade repositories.
ESMA Chair says safeguarding investors is key to Capital Markets Union’s success
ESMA's Maijoor gave a speech entitled "Safeguarding investors is key to ensuring the Capital Markets Union’s success" at the Börse Stuttgart MiFID-Kongress.
ESMA publishes MiFID II Q&As on transparency and market structure topics
ESMA published two Questions and Answers documents regarding implementation issues relating to market structures and transparency topics under the Market in Financial Instruments Directive and Regulation.
 
  Insurance
 
 
FSB publishes 2016 G-SII list
The Financial Stability Board (FSB), in consultation with the IAIS and national authorities, has identified in 2016 nine insurers as G-SIIs as part of its annual identification process of global systemically important financial institutions (G-SIFIs).
 
  Asset Management
 
 
FCA finds weak price competition in some areas of the asset management sector
The Financial Conduct Authority has published the interim findings of its asset management market study, which suggests that there is weak price competition in a number of areas of the asset management industry.
ESMA publishes updated UCITS Q&A
ESMA published an updated questions and answers document on the application of the Undertakings for the Collective Investment in Transferable Securities Directive.
 
  Financial Services Policy
 
 
Commission publishes results of Call for Evidence on EU financial services
The Commission has concluded that overall the financial services framework does not need to be changed, but targeted follow-up actions to fine-tune the framework have been proposed in access to financing, proportionality, reducing regulatory burdens and consistency of the rules.
 
  Political
 
 
HM Treasury Autumn Statement 2016: Philip Hammond's speech
The Chancellor of the Exchequer presented his Autumn Statement to Parliament and reported the latest OBR forecasts.
City AM: The EU parliament's Brexit negotiator warns that talks must close by the middle of 2019
Speaking after a meeting with UK Brexit secretary David Davis, Guy Verhofstadt said officials had just less than a year and a half to reach a deal if, as expected, Prime Minister Theresa May launches divorce proceedings in early 2017.
Financial Times: UK trade deal far from top priority for Canada
Finance minister says EU, China and US have greater importance.
Financial Times: Brexit Britain faces threat of higher EU barriers
Regulatory fragmentation presents a risk to City of London even before the negotiations begin.
CBI annual conference 2016: Prime Minister's speech
Prime Minister Theresa May spoke at the CBI annual conference to set out her vision for UK business including a modern Industrial Strategy.
Financial Times: Wolfgang Schäuble sets out tough line on Brexit
German minister warns UK faces stiff rules on tax breaks and prolonged EU payments.
Financial Times: Bankers predict Trump will not reshape regulatory agenda
Leading bankers on both sides of the Atlantic have played down expectations that Donald Trump’s administration will make drastic changes to both the US and international regulatory agenda.
 

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