Upcoming FinTech-related regulatory developments – December 2021 and January 2022

01 December 2021

In this blog post, we round-up key forthcoming developments in the UK and at EU and International levels in financial services regulation which are expected to happen in December 2021 and January 2022.

1 Dec	Deadline for responses to ICO CP on the beta version of its AI and Data Protection Risk Toolkit EIOPA to provide advice to EC on pension tools, incl dashboards Deadline for responses to joint CPMI and IOSCO CP on stablecoin arrangements for FMIs
16 Dec	Deadline for responses to ESA's call for evidence on the EC mandate regarding the PRIIPs Regulation (covering: practical application of the existing KID such as its use by financial advisors or the use of digital media, the scope of the PRIIPs Regulation and the degree of complexity and readability of the KID)
30 Dec	Under EBA Revised Outsourcing Guidelines, latest date by which in-scope firms to have completed the documentation of all existing outsourcing arrangements, other than for outsourcing arrangements to cloud service providers where the EBA's Recommendation was already applicable at the time the Outsourcing Guidelines were revised
1 Jan	Withdrawn .eu domains revoked EBA revised guidelines on major incident reporting under PSD2 apply
2 Jan	Deadline for responses to ESMA call for evidence on retail investor protection
10 Jan	Deadline for responses to EC consultation on adapting liability rules to the digital age and AI
11 Jan	Deadline for EC to report on implementation of MLD V
14 Jan	Deadline for responses to PSR CP on APP scams Deadline for responses to CPMI CP on extending and aligning payment system operating hours for cross-border payments
31 Jan	ESMA to submit technical advice to EC on digital finance

Table of abbreviations:

AI	Artificial Intelligence	EIOPA	European Insurance and Occupational Pensions Authority
APP	Authorised Push Payment	ESMA	European Securities and Markets Authority
BCBS	Basel Committee on Banking Supervision	FATF	Financial Action Task Force
BoE	Bank of England	FCA	Financial Conduct Authority
CP	Consultation Paper	IOSCO	International Organisation of Securities Commissions
CPMI	Committee on Payments and Market Infrastructures	MLD	Money Laundering Directive
DP	Discussion Paper	PRA	Prudential Regulation Authority
EBA	European Banking Authority	PS	Policy Statement
EC	European Commission	RTS	Regulatory Technical Standards

Article tags

ai app scams data digital finance outsourcing payments psd2 retailinvestment stablecoins

Related categories

AI Crypto Cyber security, data protection and IT EU Fintech outsourcing payments Regulatory UK

Key contacts

Nick Pantlin

Partner, Head of TMT & Digital UK & Europe, London

Alex Kay

Partner, London

Disclaimer

The articles published on this website, current at the dates of publication set out above, are for reference purposes only. They do not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking any action.

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