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Financial Regulation: Weekly Update. 27 January 2017

Por , ,


GLOBAL

 

  • FSB publishes reports on re-hypothecation of assets and on non-cash collateral re-use

i) It describes potential financial stability issues, explaining the evolution of market practices and current regulatory approaches to re-hypothecation, and ii) presents measures for assessing non-cash collateral re-use in securities financing to be monitored by authorities.

EUROPE

  • EC launches consultation on Capital Markets Union (CMU) mid-term review 2017

Seeks feedback on how the current CMU work programme can be completed and updated, before the mid-term review in June 2017. Deadline: 17 Mar.

  • ESMA issues opinion on exception of central clearing

The opinion exempts Spanish Pension Schemes OTC derivative contracts from central clearing obligations under EMIR.

SPAIN

 

  • CNMV publishes two technical guidelines on investment funds

i) Guidelines on strengthening transparency of investment funds seeking long-term profitability, and ii) guidelines on related transactions regarding financial instruments and carried out by managers of collective investment schemes.

UNITED KINGDOM

 

  • PRA updates Supervisory Statement on building societies

The objective is to set the approach to supervision of building societies’ lending and treasury activities, as well as the supervisor’s expectations on the compliance of their requirements.

  • FCA publishes scorecard on general insurance measures

It seeks to help consumers assess the value of products. Data include claims frequencies, claims acceptance rates and average claims pay-out.

  • PRA publishes variation to previous Modifications by Consent regarding leverage

Invites firms to consent to a variation of the temporary rule in relation to the exclusion of certain central bank claims from the total exposure measure.

UNITED STATES

 

  • FED finalizes rule to adjust maximum civil money penalties for misconduct

It increases the maximum civil money penalty limits for 2017 responding to the rule requiring annual adjustments. New amounts applicable since 15 Jan.

  • FED publishes progress report on the improvement of the U.S. payment system

Highlights the work of two payments industry task forces, updating the accomplishments and future steps for the ongoing initiative.

  • CFTC extends deadline on consultation for Regulation Automated Trading

Extends comment period for proposed rulemaking that imposes controls, transparency measures and safeguards on automated trading. New deadline: 1 May.

 

Recent publications of interest (in English and Spanish):

 

 

Previous editions of our Weekly Regulatory Update in Spanish and English

 

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