The month ahead in financial services regulatory developments…

06 May 2020

In this blog post, we round-up forthcoming developments in the UK and at EU and International levels in financial services regulation which are expected for May 2020.

In response to COVID-19, many regulators have announced delays to planned activities and/or have revised response deadlines for open consultations. It is possible that further such announcements may be forthcoming. This note reflects the circumstances as at 1 May 2020.

1 May	Prudential Regulation Authority (PRA) PS26/19 on Pillar 2 liquidity: PRA110 reporting frequency threshold changes come into force (C19 delay): Deadline for responses to the UK Payment Systems Regulator (PSR) CP20/2 call for input on competition and innovation in the New Payments Architecture (NPA)
4 May	Deadline for responses to the EU Commission draft implementing decision on equivalence for Japanese benchmarks
5 May	PSR revised Specific Direction 1: Access (sponsor banks) comes into force Deadline for responses to the European Banking Authority (EBA) CP on revising the guidelines on money laundering and terrorist financing risk factors
6 May	Deadline for responses to Commission sustainable finance draft delegated regulations on: Minimum standards for climate benchmarks; Environmental, social and governance (ESG) criteria (benchmarks); and Building in ESG criteria
7 May	(C19 measure): UK Financial Policy Committee (FPC) to publish additional interim Financial Stability Report
11 May	Deadline for responses to HM Treasury (HMT) CPs on: simplified overseas funds regime; and Gibraltar Authorisation Regime.
15 May	Deadline for responses to PRA CP4/20 on regulated fees and levies EBA public hearing on CP on revised guidelines on money laundering and terrorist financing risk factors Deadline for feedback to EU Commission roadmap on evaluation of the EU competition law - market definition notice
18 May	Deadline for feedback to the UK Joint Money Laundering Steering Group (JMLSG) consultation on new Part II Chapter 22 sectoral guidance for cryptoasset exchange providers and custodian wallet providers (C19 delay): Deadline for responses to EU Commission CP on MiFID II review
19 May	Deadline for responses to FCA CP20/6 on regulated fees and levies for 2020/21
20 May	(C19 delay) Deadline for responses to Bank of England (BoE) discussion paper (DP) on transforming data collection Deadline for responses to European Insurance and Occupational Pensions Authority (EIOPA) CP on Pan-European Personal Pension Product (PEPP) implementing technical standards (ITS) on supervisory reporting and cooperation
21 May	FCA board meeting
24 May	Deadline for responses to Islamic Financial Services Board (IFSB) CP on exposure draft of a standard on guiding principles for investor protection in Islamic capital markets
25 May	Deadline for responses to IFSB CP on disclosures for takāful and retakāful undertakings
27 May	Deadline for responses to EU Commission CP on the EU Climate Pact
28 May	Deadline for responses to EU Commission CP on the gender pay gap – transparency on pay for men and women
31 May	Deadline for responses to EU Commission CPs on: the Artificial Intelligence (AI) White Paper; and the European Strategy for Data
By end of May	EU Commission high-level forum on the future of the capital markets union (CMU) to make policy recommendations
May	European Central Bank (ECB) Financial Stability Review Deadline for signatures to EU Citizens' Initiative on fast, fair, and effective solution to climate change
May-Jul	Meetings of BoE/FCA working groups on transforming data collection

Article tags

bank of england cmu ecb eiopa esg eu commission fca fpc hmt ifsb jmlsg npa pra

Related categories

Asia Bank Accounts and Payment Services Banking Bribery and Corruption Climate Change Corporate Crime Credit and Loans Crisis Management Enforcement EU FinTech Fraud Insurance International Investigations Markets Money Laundering Prudential Reporting Retail Investments and Pensions Sanctions Sustainable Finance UK

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.

Follow us

Follow us

The month ahead in financial services regulatory developments…

Article tags

Related categories

Disclaimer