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Latest news of financial regulation

Total: 4537 itemsDisplaying: 41 - 60 items Page 3 of 227

The SEC adopts new requirements for credit rating agencies to enhance governance, protect against conflicts of interest, and increase transparency to improve the quality of credit ratings and increase credit rating agency accountability

Created
Tuesday, 02 September 2014

                                                                    27 Aug 2014

 

The Securities and Exchange Commission adopted new requirements for credit rating agencies to enhance governance, protect against conflicts of interest, and increase transparency to improve the quality of credit ratings and increase credit rating agency accountability. The new rules and amendments, which implement 14 rulemaking requirements under the Dodd-Frank Act, apply to credit rating agencies registered with the Commission as nationally recognized statistical rating organizations (NRSROs).

Related documents

Press release

Final rule

The PRA publishes supervisory statement on subordinated guarantees and the quality of capital

Created
Tuesday, 02 September 2014

                                                                      01 Sep 2014

 

The PRA published supervisory statement on subordinated guarantees and the quality of capital. This supervisory statement applies to all insurers (firms) authorised by the Prudential Regulation Authority (PRA) and may also be relevant to insurance holding companies and other entities in the same group, together with their advisors. The statement also looks ahead to Solvency II (SII), and is aimed at firms and groups within the scope of the SII Directive. It is equally relevant for life insurers, general insurers and mutuals.

Related documents

Press release

Supervisory statement

The PRA publishes supervisory statement on valuation risk for insurers

Created
Tuesday, 02 September 2014

                                                                    01 Sep 2014

 

 

The PRA published supervisory statement on valuation risk for insurers. It sets out the PRA’s expectations of firms in relation to existing rules on the valuation of financial assets. This statement applies to all PRA authorised insurers (firms) and may also be relevant to insurance holding companies and other entities in the same group, together with their advisors.

 

Related document

Supervisory statement

The EBA publishes new XBRL taxonomy for remittance of supervisory reporting as of 31 December 2014

Created
Tuesday, 02 September 2014

                                                                     18 Aug 2014

 

The EBA published a new XBRL taxonomy to be used by competent authorities for remittance of data under the EBA Implementing Technical Standards on supervisory reporting. The new taxonomy will have as reference date 31 December 2014 onwards and will be used for the first reports on asset encumbrance and funding plans. The new taxonomy presents the data items, business concepts, relations, visualisations and validation rules described by the EBA Data Point Model which are contained in the ITS on supervisory reporting and in the EBA Guidelines on definitions and templates on funding plans.

Related document

Press release

Directive 2014/91/EU amending Directive 2009/65/EC on the coordination of laws, regulations and administrative provisions relating to UCITS as regards depositary functions, remuneration policies and sanctions published in the Official Journal of the EU

Created
Tuesday, 02 September 2014

                                                                    28 Aug 2014

 

Directive 2014/91/EU amending Directive 2009/65/EC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities as regards depositary functions, remuneration policies and sanctions has been published in the Official Journal of the EU.

This Directive shall enter into force on 17 September 2014. Member States shall adopt and publish, by 18 March 2016 the laws, regulations and administrative provisions necessary to comply with this Directive.

Related document

Directive 2014/91/EU

The EBA publishes the final templates for the 2014 EU-wide stress test

Created
Tuesday, 02 September 2014

                                                                    20 Aug 2014

 

The EBA published the final templates for the 2014 EU-wide stress test. These are common templates for all EU banks and illustrate the type and the format of data that will be disclosed on a bank by bank basis. In its role of coordinator of the stress test, the EBA will be publishing up to 12,000 data points per bank across the entire EU, acting as the single hub for all information related to stress test outcomes of EU banks, as determined by competent authorities.

Related documents

Press release

The ECB identifies four key payment systems that are now under the new ECB Regulation on oversight requirements for systemically important payment systems (SIPS)

Created
Tuesday, 02 September 2014

                                                                    21 Aug 2014

 

The ECB identified four key payment systems that are now under the new ECB Regulation on oversight requirements for systemically important payment systems (SIPS), which entered into force on 12 August 2014. The regulation covers large-value and retail payment systems in the euro area operated by both central banks and private entities, and aims at ensuring efficient management of legal, credit, liquidity, operational, general business, custody, investment and other risks as well as sound governance arrangements, namely with a view towards promoting the smooth operation of safe and efficient payment systems in the euro area.

Related document

Press release

Directive 2014/92/EU on the comparability of fees related to payment accounts, payment account switching and access to payment accounts with basic features published in the Official Journal of the EU

Created
Tuesday, 02 September 2014

                                                                    28 Aug 2014

 

Directive 2014/92/EU on the comparability of fees related to payment accounts, payment account switching and access to payment accounts with basic features has been published in the Official Journal of the EU.

This Directive shall enter into force on 17 September 2014. By 18 September 2016, Member States shall adopt and publish the laws, regulations and administrative provisions necessary to comply with this Directive.

Related document

Directive 2014/92/EU


Directive 2014/92/EU on the comparability of fees related to payment accounts, payment account switching and access to payment accounts with basic features published in the Official Journal of the EU

Created
Tuesday, 02 September 2014

                                                                    28 Aug 2014

 

Directive 2014/92/EU on the comparability of fees related to payment accounts, payment account switching and access to payment accounts with basic features has been published in the Official Journal of the EU.

This Directive shall enter into force on 17 September 2014. By 18 September 2016, Member States shall adopt and publish the laws, regulations and administrative provisions necessary to comply with this Directive.

Related document

Directive 2014/92/EU

The EU Commission send a mandate to EIOPA for advice on possible delegated acts concerning the upcoming Regulation on Key Information Documents for Packaged Retail and Insurance-Based Investment Products (PRIIPS)

Created
Tuesday, 02 September 2014

                                                                   30 Aug 2014

 

The Commission sent a mandate to EIOPA for advice on possible delegated acts concerning the upcoming Regulation on Key Information Documents for Packaged Retail and Insurance-Based Investment Products (PRIIPS).

PRIIPs Regulation reinforces the role and power of supervisory authorities by conferring upon competent authorities and EIOPA the power to monitor the financial products and, subject to certain conditions, temporarily to prohibit or restrict the marketing, distribution or sale of insurance-based investment products, financial activity or practices.

Related document

Request for EIOPA’s technical advice

Financial Supervision: The EU Commission publishes report on the operation of the European Supervisory Authorities (ESAs) and the European System of Financial Supervision (ESFS)

Created
Tuesday, 02 September 2014

                                                                    08 Aug 2014

 

The EU Commission published report on the operation of the European Supervisory Authorities (ESAs) and the European System of Financial Supervision (ESFS). The new supervisory architecture, with the ESAs and the ESRB at its centre, is a cornerstone of the comprehensive reforms that have been initiated by the Commission since the outbreak of the financial crisis.

Related documents

Report on ESAs:

-        Report

-        Annex

-        Staff Working Document

-        Frequently Asked Questions

Report on ESRB

News & articles

EU executive wants to beef up bloc's financial watchdogs (Reuters)

Consumer Protection: The ESMA and EBA publish translations of guidelines for complaints-handling for the securities and banking sectors

Created
Tuesday, 02 September 2014

                                                                    25 Aug 2014

 

The ESMA and EBA published translations of guidelines for complaints-handling for the securities and banking sectors. The document aims to increase market confidence and for the benefit of consumers and firms alike it will ensure a harmonised approach to handling complaints for all 28 EU Member States and across all financial services sectors.

The guidelines will become applicable two months after the date of publication of translations.

Related document

Press release

Regulation (EU) No 909/2014 on improving securities settlement in the European Union and on central securities depositories published in the Official Journal of the EU

Created
Tuesday, 02 September 2014

                                                                    28 Aug 2014

 

Regulation (EU) No 909/2014 on improving securities settlement in the European Union and on central securities depositories and amending Directives 98/26/EC and 2014/65/EU and Regulation (EU) No 236/2012 has been published in the Official Journal of the EU.

This regulation shall enter into force on 17 September 2014. It shall be binding in its entirety and directly applicable in all Member States.

Related document

Regulation (EU) No 909/2014

Banking Supervision: The ECB publish a manual detailing how it will incorporate findings from its AQR into stress test projections

Created
Tuesday, 02 September 2014

                                                                    08 Aug 2014

 

The ECB published a manual detailing how it will incorporate findings from its AQR into stress test projections (Comprehensive Assessment Stress Test Manual). It also describes the stress test quality assurance process, which is vital to ensuring that the exercise is robust and credible. The comprehensive assessment is a thorough check of the balance sheets and resilience of the biggest banks prior to the ECB taking on its supervisory tasks in November. The ECB’s comprehensive assessment differs from previous EU-wide stress test exercises in that it comprises a thorough asset quality review and includes a “join-up” of the AQR and stress test outcomes.

Related document

Press release

Comprehensive Assessment Stress Test (CAST) Manual

News & articles

Banks must provide for lawsuits, fines, in ECB tests (Reuters)

ECB says banks bending stress-test rules will get red light (Bloomberg)

Commission Implementing Regulation (EU) No 926/2014 with regard to standard forms, templates and procedures for notifications relating to the exercise of the right of establishment to provide services according to CRD IV published in the OJ of the EU

Created
Tuesday, 02 September 2014

                                                                    28 Aug 2014

 

Commission Implementing Regulation (EU) No 926/2014 laying down implementing technical standards with regard to standard forms, templates and procedures for notifications relating to the exercise of the right of establishment and the freedom to provide services according to CRD IV has been published in the Official Journal of the EU.

This Regulation shall enter into force on 17 September 2014. It shall be binding in its entirety and directly applicable in all Member States.

Related document

Commission Implementing Regulation (EU) No 926/2014

ESMA adds CCP.A to list of registered CCPs under EMIR

Created
Monday, 01 September 2014

                                                                     14 Aug 2014

 

ESMA  added CCP.A, based in Austria, to its list of registered CCPs under the European Markets Infrastructure Regualtion (EMIR). EMIR requires EU-based CCPs to be registered and non-EU CCPs to be recognised in the European Union (EU).

Related document

Press release

 

Financial Markets: IOSCO launches public information repository for central clearing requirements

Created
Wednesday, 06 August 2014

                                                              05 August 2014

 

IOSCO unveiled an information repository for central clearing requirementsfor OTC derivatives, which provides regulators and market participants with consolidated information on the clearing requirements of different jurisdictions.

Related document

Press release

FCA sets out its approach to financial promotions in social media

Created
Wednesday, 06 August 2014

                                                               06 August 2014

 

The FCA launched a consultation which is intended to clarify its approach to the supervision of financial promotions in social media. The FCA’s overall approach is that the financial promotion rules are intended to be media-neutral to ensure that consumers are presented with certain minimum information, in a fair and balanced way, at the outset of firms’ interaction with them.

Related documents

Press release

Guidance consultation

FCA consults on implementation of the directive on bank recovery and resolution

Created
Wednesday, 06 August 2014

                                                              05 August 2014

 

The FCA published a consultation paper (CP14/15) setting out proposed changes to its Handbook that are required to transpose the Bank Recovery and Resolution Directive (BRRD) into the UK regulatory regime for the investment firms and certain group entities that the FCA regulates prudentially and that fall within the scope of the Directive.

Comments on CP14/15 are due by 1 October 2014. The BRRD must be transposed into national law by 31 December 2014 and applied from 1 January 2015.

Related document

Consultation paper

ECB publishes quarterly report on progress in the operational implementation of the Single Supervisory Mechanism Regulation

Created
Wednesday, 06 August 2014

                                                              05 August 2014

 

The ECB published quarterly report on progress in the operational implementation of the Single Supervisory Mechanism Regulation.

The ECB will assume the tasks conferred on it by the SSM Regulation within three months, on 4 November 2014.

Related document

SSM Quarterly Report

  • Last Update: Tuesday 30 September 2014, 18:46.
IstEin - Istituto Einaudi IstEin - Istituto Einaudi

Countdown to Single Supervisory Mechanism in EU

The establishment of the SSM on 4th November 2014 will be an important milestone towards a banking union in Europe.

33 Days

Link:
European Central Bank: Banking Supervision