August 2021: The month ahead in financial services regulatory developments…

29 July 2021

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 August 2021.

1 Aug	Deadline for responses to European Securities and Markets Authority (ESMA) call for evidence on digital finance Implementation date for EU Directive 2019/1153 regarding sharing of financial information (incl from bank account registers established under the 5th Money Laundering Directive (MLD V)) for the investigation/ prosecution of certain offences
2 Aug	Deadline for responses to Chapter 2 of FCA Quarterly Consultation Paper 21/16 (CP 21/16) regarding amending the rule in CONC 6.7.4R to enable firms providing credit cards to offer instalment plans to customers without requiring a rule modification Deadline for response to European Central Bank (ECB) CP on a revised fit and proper guide and new fit and proper questionnaire EU Directive and Regulation on cross-border distribution of investment funds apply Deadline for responses to European Commission (EC) CP on review of the relevant state aid guidelines, incl the climate, energy, and environmental aid guidelines
3 Aug	Deadline for responses to EC CP on retail investment strategy for Europe
4 Aug	Deadline for responses to FCA's 34th Primary Market Bulletin which consults on changes to the FCA Knowledge Base in relation to the prospectus regime Deadline for responses to Lending Standards Board (LSB) CP on Access to Banking Standard Deadline for responses to ESMA CP on guidelines on disclosure requirements for initial reviews and preliminary ratings under Credit Rating Agencies (CRA) Regulation
9 Aug	Deadline for the FCA to response to the Treasury Select Committee's (TSC's) letter concerning the freezing of bank accounts of vulnerable customers Benchmarks (Provision of Information and Documents) Regulations 2021 in force Deadline for responses to Financial Stability Board (FSB) thematic review on corporate debt workouts
10 Aug	FCA final rules and changes to the Listing Rules for certain special purpose acquisition companies (SPACs) as set out in Policy Statement 21/10 (PS 21/10) come info force The Regulation of Investigatory Powers (Criminal Conduct Authorisations) (Amendment) Order 2021 comes into force
12 Aug	Deadline for responses to FCA Guidance Consultation 21/2 (GC 21/2) on listing applicants with cannabis-related businesses Deadline for responses to EC consultation on draft Delegated Regulation amending notification threshold under the Short Selling Regulation (SSR)
13 Aug	Deadline for responses to HM Treasury (HMT) CP on amendments to insolvency arrangements for insurers Date by which participants are expected to submit results to national competent authorities (NCAs) in respect of the European Insurance and Occupational Pensions Authority's (EIOPA's) 2021 insurance stress tests
15 Aug	Deadline for responses to the International Organisation of Securities Commissions (IOSCO) CP on sustainability-related practices, policies, procedures and disclosure in asset management
16 Aug	Deadline for responses to FSB CP on proposals to enhance Money Market Fund (MMF) resilience
20 Aug	Deadline for responses to ESMA CP on content and format of STS notification for on-balance sheet securitisations under EU Securitisation Regulation (SR) Deadline for responses to EC roadmap on guidance on rules applicable to the use of public-private partnerships (PPPs) under the anti-money laundering/countering terrorist financing (AML/CTF) framework Deadline for responses to Financial Action Task Force (FATF) CP on revisions to Recommendation 24 on transparency and beneficial ownership of legal persons
23 Aug	Deadline for responses to ECB CP on draft revisions to ECB guide on options and discretions Deadline for responses to the International Association of Insurance Supervisors (IAIS) draft issues paper on insurer culture
24 Aug	Deadline for responses to Financial Policy Committee (FPC) and PRA CP14/21 on changes to UK leverage ratio framework Deadline for feedback to IAIS Application Paper on Supervisory Colleges
25 Aug	Deadline for responses to FCA CP21/22 on LIBOR transition and the derivatives trading obligation (DTO)
26 Aug	Deadlines for response to PRA CP13/21 Occasional CP which includes proposals related to external auditors and audit committees (see Chapter 6)
27 Aug	Deadline for responses to FCA CP21/19 on proposed decision under Art 23D Benchmarks Regulation (BMR) for 6 sterling and yen LIBOR settings HMT deadline for responses to CP on Economic Crime Plan Action 19 power to block listings on national security grounds Deadline for responses to ESMA CP on guidelines on transfer of data between trade repositories under the European Market Infrastructure Regulation (EMIR) and the Securities Financing Transactions Regulation (SFTR) Deadline for responses to ESMA CP on amendments to Market Abuse Regulation (MAR) guidelines on delayed disclosure of inside information Deadline for responses to EBA CP on new Guidelines on cooperation and information exchange between prudential supervisors, AML/CFT supervisor and Financial Intelligence Units (FIUs) Deadline for comments on EC CP on extending environmental objectives and draft report on a social taxonomy
30 Aug	Deadline for responses to Bank of England (BoE) CP on fees regime for Financial Market Infrastructures (FMIs) Deadline for responses to EBA CP on disclosure of information on exposures to interest rate risk on positions not held in the trading book under EU Capital Requirements Regulation (CRR)
31 Aug	Deadline for responses to FCA guidance consultation (GC 21/3) on revising guidance on approach to review of Part VII insurance business transfers Deadline for responses to FCA CP 21/20 on regulation of funeral plans The Pension Regulator (TPR) CP on climate risk governance and reporting guidance closes Deadline for responses to Law Commission Discussion Paper (DP) on improvements to the law relating to corporate criminal liability Deadline for responses to EBA DP on review of non-performing loans (NPL) transaction data templates

Article tags

mar aml cft corporate crime digital finance esma fca fintech funeral plans insurance libor markets prospectus prudential securitisation regulation vulnerable customers

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Bank Accounts and Payment Services Banking Climate Change Corporate Crime EU FinTech FSCS and Compensation Insurance Investment Management LIBOR Discontinuation Market Abuse / Insider Trading Markets Operational Resilience Prudential Regulatory Sustainable Finance UK

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August 2021: The month ahead in financial services regulatory developments…

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