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14 April 2016

Friends 'Weekly' Newsletter


Why Britain should “Remain In” the EU, Brexit, Basel III, EBA's supervisory best practices and Risk Dashboard, Commission Delegated Directive supplementing MiFID II, CFDs, EMIR, ESAs, retail investors, Solvency II and more.

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  Articles from 07 April 2016 - 14 April 2016

  Banking
 
 
BCBS: Tenth progress report on adoption of Basel III standards published by the Basel Committee
The Basel Committee on Banking Supervision has today issued the tenth progress report on adoption of the Basel regulatory framework. This report sets out the adoption status of Basel III standards for each BCBS member jurisdiction as of end-March 2016.
EBA recommends supervisory best practices on securitisation risk retention, due diligence and disclosure
The EBA published a report analysing measures taken by Competent Authorities in 2014 to ensure compliance by institutions with securitisation risk retention, due diligence and disclosure requirements.
EBA updated Risk Dashboard shows EU banks have further increased their capital ratios in Q4 2015
The EBA Risk Dashboard update shows a further increase in EU banks' capital ratios. Profitability remains low and NPL ratios are still high.
 
  Securities
 
 
Commission Delegated Directive supplementing MiFID II
The Directive contains provisions on investor protection, notably on safeguarding of clients' funds and financial instruments, product governance and monetary/non-monetary compensation - research inducements.
ESMA publishes new Q&A on CFDs and other speculative products
ESMA published a new Q&A on the application of MiFID to the CFDs and other speculative products to retail clients such as binary options and rolling spot forex.
ISDA publishes updated EMIR classification letter
The letter covers the clearing obligation for certain interest rate derivatives classes denominated in European Economic Area currencies and certain credit default swap index classes.
 
  Insurance
 
 
EIOPA: ESAs finalise key information documents for retail investors in the EU
The Joint Committee of the European Supervisory Authorities has finalised its proposal for regulatory technical standards on Key Information Documents for PRIIPs.
Bank of England: Solvency II - Remuneration requirements
This consultation paper seeks feedback on a draft supervisory statement which sets out the Prudential Regulation Authority’s expectations with regards to the Solvency II Regulation.
 
  Financial Services Policy
 
 
ESAs identify vulnerabilities affecting the EU financial system and suggest actions to address the main risks
The Joint Committee of the European Supervisory Authorities published its Spring 2016 Report on Risks and Vulnerabilities in the EU Financial System.
ESAs finalise Key Information Documents for retail investors in the EU
The Joint Committee of the European Supervisory Authorities has finalised its proposal for regulatory technical standards on Key Information Documents for Packaged Retail and Insurance-based Investment Products.
 
  Friends Services
 
 
Why Britain should “Remain In” the EU: Three Project Fs - Future, Fantasy and Fear
Graham Bishop illustrates the three 'Project Fs' that now dominate the Brexit debate and explains why Project Future is the one British people should have in mind when voting in June 23rd.
 
  Political
 
 
Open Europe: Where next? A liberal, free-market guide to Brexit
This report sets out recommendations for liberal policies in the fields of trade, immigration and regulation, which Open Europe believe are required in the event of a Brexit in order to offset the costs and maximise the economic benefits.
The Guardian: IMF says Britain leaving the EU is a significant risk
Exit from EU ‘could do severe regional and global damage’ by disrupting trade relationships, says International Monetary Fund.
HM Government: Why the Government believes we should remain
The UK Government has produced a guide on what the EU does, how it helps on jobs, trade and the economy, and explaining exactly how to vote in the referendum.
CEPS: Britain’s Future in Europe - The known Plan A to remain or the unknown Plan B to leave
The authors set out three Plan Bs more concretely and in more depth than the ‘leave’ camp has been able or wanted to do, or any other source has done.
 
  Economic
 
 
Commission proposes public tax transparency rules for multinationals
The College proposes to introduce public reporting requirements for the largest companies operating in the EU and in tax havens. It also assesses progress by Greece to address deficiencies at external borders and discusses way forward on visa reciprocity.
European Commission: Modernising Value-Added Tax in the EU
The European Commission has presented an Action Plan setting out ways to reboot the current EU VAT system in order to tackle fraud, support business and help the digital economy and e-commerce. The aim is to make the system simpler, support the Single Market and facilitate cross-border trade.
 

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