The month ahead in financial services regulatory developments...

15 May 2019

In this blog post, we round-up forthcoming developments in the UK and at EU and International levels in financial services regulation for June 2019.

3 Jun	Deadline for responses to FCA call for input on the Retail Distribution Review (RDR) and the Financial Advice Market Review (FAMR) evaluation; FCA to conduct ongoing research to gather data during 2019 Organisation for Economic Co-operation and Development (OECD) conference on competition and the digital economy
5 Jun	Deadline for responses to PRA consultation paper (CP)4/19 on liquidity risk management for insurers
8-9 Jun	G20 ministerial meetings: finance ministers and central bank governors (Fukuoka, Japan) trade and digital economy (Tsubuka, Japan)
10 Jun	Deadline for responses to Treasury Committee CP on the transposition of the Fifth Money Laundering Directive (MLD V) into national law Shareholder Rights Directive II (SRD II) implementation deadline
11 Jun	Deadline for responses to the Department for Business, Energy and Industrial Strategy (BEIS) CP – Independent Review of the FRC recommendations
12 Jun	Deadline for responses to PRA CP5/19 on Pillar 2 capital – updates to the framework
13-14 Jun	International Association of Insurance Supervisors (IAIS) Global Seminar (Buenos Aires, Argentina)
14 Jun	Deadline for responses to FCA CP19/12 on Investment Platforms Market Study (IPMS) remedies on making transfers simpler and discussion on exit fees European Insurance and Occupational Pensions Authority (EIOPA) deadline for provision of information to National Supervisory Authorities (NSAs) by firms in the context of EIOPA's long term guarantees report and 2020 review of Solvency II
15-16 Jun	G20 ministerial meeting on energy transition and global environment for sustainable growth
19-20 Jun	Basel Committee on Banking Supervision (BCBS) meeting
20-21 Jun	EU Council: adoption of the Strategic Agenda 2019-2024 and high level appointments
21 Jun	European Market Infrastructure Regulation (EMIR) clearing obligation for interest rate swaps and credit default swaps for financial counterparties (FCs) and alternative investment funds (AIFs) (which are Non-Financial Counterparty (NFC)+ and which do not fall within Category 1 or 2)
26 Jun	Deadline for responses to FCA CP19/14 on mortgage prisoners
27 Jun	FCA Board meeting
28-29 Jun	G20 Osaka Summit
29 Jun	Deadline for responses to the European Securities and Markets Authority (ESMA) CP on ELTIF RTS
By 30 Jun	All expectations in PRA SS9/17 – Recovery planning to be met
End Jun	EU Commission final guidelines on non-financial reporting of climate change-related information expected (intended for use by companies falling under the scope of the Non-Financial Reporting Directive)
Jun	Delayed FCA credit information market study terms of reference expected policy statement (PS) to FCA CP19/11 on changes to Decision Procedure and Penalties Manual (DEPP) and the Enforcement Guide when regulation of securities repositories passes from ESMA to the FCA after EU Exit PSs expected to FCA: CP18/42 on high cost credit review (overdrafts) CP18/43 on high cost credit review (Buy Now Pay Later offers) Competition and Markets Authority (CMA) progress update on loyalty penalties expected Financial Stability Board (FSB) reports on market fragmentation and update on the implementation and effects of G20 financial regulatory reforms on small and medium-sized enterprises (SMEs) FSB to deliver reports to G20 on: financial stability implications of decentralised financial technologies development of effective practices for responding to cyber incidents Task Force on Climate-related Financial Disclosures (TCFD) status report to the G20 Pan-European Personal Pension Product (PEPP) Regulation expected to be adopted (subject to EU Council approval) EU Technical Expert Group on Sustainable Finance final report on EU Green Bond Standard EU Commission to report to EU Council on progress made in implementing anti-money laundering (AML) Action Plan Eurogroup European Deposit Insurance Scheme (EDIS) working group report due Financial Action Task Force (FATF) to publish Interpretative Note on implementation requirements for effective regulation and supervision/monitoring of virtual asset services providers as part of the FATF Standards IAIS to publish summary of main public consultation comments on overall ComFrame and their resolution
Jun/Jul	FCA PS on prospectus rules
Jun-Aug	IAIS public consultation on further revisions to insurance core principles (ICPs)/ ComFrame

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bank of england compliance corporate crime enforcement eu european commission european regulation fca investigations money laundering pra regulation regulatory reform uk

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Corporate Crime Enforcement Investigations Money Laundering Prudential Sanctions UK

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The month ahead in financial services regulatory developments...

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