The month ahead in financial services regulatory developments…

01 June 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 June 2020.

1 June	Deadline for responses to European Insurance and Occupational Pensions Authority (EIOPA) consultation paper (CP) on review of technical implementation means for the package on Solvency II Supervisory Reporting and Public Disclosure Single Euro Payments Area (SEPA) Proxy Lookup scheme rulebook version 2.0 comes into effect G20 Dialogue on AI
3 – 4 June	G20 Digital Economy Task Force meeting
5 June	Public hearings on European Banking Authority (EBA) CP on guidelines on appropriate subsets of exposures in Systemic Risk Buffer (SyRB) and Regulatory Technical Standards (RTS) on identification methodology for Global Systemically Important Institutions (G-SII)
8 June	Deadline for responses to European Securities and Markets Authority (ESMA) CP on draft RTS covering governance, methodology and critical benchmarks under Benchmarks Regulation (BMR)
9 June	Deadline for responses to European Policy Centre (EPC) CP on 2020 change requests for SEPA Credit Transfer (SCT) and SEPA Direct Debit Core (SDD) scheme rulebooks
10 June	Deadline for responses to EBA CP on treatment of non-trading book positions subject to foreign exchange (FX) or commodity risk
11 June	Deadline for responses to Bank of England (BoE) discussion paper (DP) on Central Bank Digital Currencies (CBDCs) Deadline for responses to EU Commission CP on revision of the Non-Financial Reporting Directive (NFRD)
12 June	Extended submission deadline for Capital Requirements Regulation (CRR) and Bank Recovery and Resolution Directive (BRRD) reporting to PRA Amendments to Insurance Distribution Directive (IDD) adapting base euro amounts for professional indemnity insurance and for financial capacity of (re)insurance intermediaries take effect
14 June	Deadline for responses to ESMA Markets in Financial Instruments Directive (MiFID II) review report on transparency regime for non-equity instruments and trading obligation for derivatives
15 June	Deadline for responses to ESMA CP on post-trade risk reduction services (final report to be submitted to Commission in mid-2020) Deadline for responses to ESMA CP on clearing solutions for pension scheme arrangements under European Market Infrastructure Regulation (EMIR)
15 – 16 June	G20 Financing for Sustainable Development Goals meeting
16 June	Expiry of ESMA decision lowering reporting threshold for holders of net short positions to 0.1% and above
17 June	Deadline for responses to EIOPA CP on Pan-European Personal Pension Product (PEPP) Implementing Technical Standards (ITS) on supervisory reporting and cooperation
19 June	Deadline for responses to ESMA CP on draft RTS/ITS on Trade Repositories (TRs) under EMIR REFIT
23 June	G20 International Financial Architecture Working Group meeting
25 June	FCA board meeting
26 June	Deadline for responses to PRA CP3/20 (March 2020 Occasional CP) on minor amendments and corrections to PRA110, Solvency II reporting, the Branch Return and PRA101 Deadline for responses to Commission CP on a retail payments strategy for the EU
28 June	Various EBA CRD V/CRR II ITS/RTS/guidelines to be submitted to Commission
30 June	Latest date for applications from cryptoasset businesses to be received for priority review for registration by the FCA End of extended remittance deadline for PRA reporting (PRA1008, FSA015, quarterly return for credit unions, RFB001 to RFB003, PRA104-107, REP005) EBA guidelines on ICT and security risk management enter into force Deadline for responses to EBA CP on future of EU-wide stress test framework Deadline for responses to ESMA CP on ITS on standard forms, templates, and procedures NCAs should use to publish information on their websites under the Regulation on cross-border distribution of funds Deadline for responses to EIOPA discussion paper on interbank offered rate (IBOR) transitions
June	PSR market review into the supply of card-acquiring services interim report expected EU Exit – EU and UK aim to complete equivalence assessments Potential FCA Policy statement on General Insurance value measures reporting

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bank of england brrd cbdcs crr eba ecb eiopa epc esma eu commission fca g20 ibor idd nfrd pra psr

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The month ahead in financial services regulatory developments…

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