Blog: Financial Regulation Weekly Bulletin – 2 March 2023 – Lexology

Includes developments in relation to: Prospectus disclosures on climate risk; bank ring-fencing regime; prudential framework for smaller banks; BMR; proposed CSDR Refit Regulation; and IFPR.

Click on the headings below to access each section:

General

  • Financial services contracts concluded at a distance – Council of European Union agrees negotiating mandate and publishes note
  • Regulatory Initiatives Grid – FCA publishes sixth edition
  • Prospectus disclosures on climate risk – ClientEarth seeks judicial review of FCA decision

Banking and Finance

  • Banking book and trading book provisions – EBA publishes letter and opinion
  • Bank ring-fencing regime – HM Treasury publishes call for evidence
  • Prudential framework for smaller banks – PRA publishes Consultation Paper (CP4/23) on liquidity and disclosure requirements
  • Prudential framework for smaller banks – PRA publishes Consultation Paper (CP5/23) on remuneration requirements
  • Harmonisation of ISO 20022 – CPMI publishes Consultative Report

Securities and Markets

  • BMR – European Commission publishes call for evidence on the scope and third-country regime
  • Amendments to MiFIR/MiFID II – ECON adopts draft reports
  • Proposed CSDR Refit Regulation – ECON adopts draft report
  • Impact of market correction mechanism on financial markets – ESMA publishes effects assessment
  • Financial Services and Markets Act 2000 (Commodity Derivatives and Emissions Allowances) Order 2023 – Draft statutory instrument and explanatory memorandum published
  • Wholesale data market – FCA publishes findings and launches market study
  • UK EMIR – FCA and Bank of England publish joint Policy Statement (PS23/2)

Asset Management

  • IFPR – FCA publishes findings of multi-firm review

Insurance

  • Pensions Dashboard – DWP publishes statement
  • British Steel Pension Scheme consumer redress scheme – FCA publishes webpage of resources for firms

Financial Crime

  • FATF Plenary meeting – FATF publishes outcome
  • AML/CTF – Delegated Regulation amending list of high-risk third countries under MLD4 published in OJ

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