Regulation round-up is our monthly email to all regulated firms, updating you on the latest news that affects your sector.
Read or download the full Regulation round-up: February 2016
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Introduction: Andrew Whyte, Director of Communications
Welcome to February's edition of Regulation round-up. This month I am delighted to announce the launch of ‘FCA: Live & Local’, our regional engagement programme.
Hot topic: Senior Managers & Certification Regime
On 7 March 2016, new rules will come into force to strengthen individual’s accountability in the banking sector and insurance sector. The rules aim to restore trust in financial services firms. They include the Senior Managers Regime, the Certification Regime and Conduct Rules for deposit takers, and the Senior Insurance Managers Regime for insurance companies.
In your sector…
Banks and building societies
EU Benchmarks Regulation
PS: Fair, reasonable and non-discriminatory access to regulated benchmarks
CP: Extension of the Certification Regime to wholesale market activities
SMR: Statement on general counsels
CP: Innovative Finance ISA (IFISA)
Call for Input: The FCA’s approach to the current payment services regime
PS: Strengthening accountability in banking
Investment managers and stockbrokers (retail and wholesale)
PS: UCITS V
Speech: Independence, confidence and fairness
Recovery and Resolution Directive (RRD)
PS: Fair, reasonable and non-discriminatory access to regulated benchmarks
European Commission proposes extending MiFID II application date by one year
Handbook: updates to IPRU-INV and EG
Financial advisers
EU Benchmarks Regulation
CP: Innovative Finance ISA (IFISA)
European Commission proposes extending MiFID II application date by one year
Wealth managers and private bankers
PS: UCITS V
Speech: Independence, confidence and fairness
Recovery and Resolution Directive (RRD)
PS: Fair, reasonable and non-discriminatory access to regulated benchmarks
European Commission proposes extending MiFID II application date by one year
Handbook: updates to IPRU-INV and EG
Mortgage brokers
EU Benchmarks Regulation
Self-cert mortgages from firms not based in the UK
General insurance and insurers
There are no updates to report in the Insurance sector this month.
Consumer credit
EU Benchmarks Regulation
Call for input: review of the Consumer Credit Act retained provisions
Credit unions
PS: Reform of the Legacy Credit Unions
PS: Strengthening accountability in banking