Blog: Financial Regulation Weekly Bulletin – 9 March 2023 – Lexology

Includes developments in relation to: the independence of the Bank of England; greenwashing; the Consumer Duty; Short Selling Regulation; reform of UK Solvency II; and anti-money laundering.

Click on the headings below to access each section:


  • Reduction of greenhouse gas emissions – ESMA publishes letter from European Commission on assessment of financial system’s resilience to stress and invitation to conduct stress test
  • Financial services contracts concluded at a distance – Council of the European Union publishes general approach
  • Independence of the Bank of England – House of Lords’ Economic Affairs Committee launches inquiry
  • Financial impact of greenwashing – House of Commons Treasury Sub-Committee publishes letter sent to FCA
  • Implementing the Consumer Duty – FCA publishes third series of portfolio letters
  • Business specific complaints data – FOS publishes Consultation Paper on temporary changes to outcome reporting
  • Fair business banking – APPG publishes report on framework for compensation and redress

Banking and Finance

  • SEPA Migration Regulation – ECON publishes draft report on proposed amending Regulation
  • Benchmarking diversity practices and the gender pay gap – EBA publishes report
  • Mandatory reimbursement for APP scams – Treasury Committee publishes correspondence with Bank of England, FCA, PSR and FOS
  • Second Resolvability Assessment Framework – Bank of England publishes ‘Dear CFO’ letter
  • Post-Implementation Review – BBRS publishes second report of findings

Securities and Markets

  • Proposed CSDR Refit Regulation – ECON publishes report
  • Wholesale energy markets – ACER and ESMA agree MoU
  • Short Selling Regulation – FMLC publishes response to HM Treasury

Asset Management

  • Investment Research Review – HM Treasury publishes terms of reference
  • Long Term Asset Fund – FCA authorises first Long Term Asset Fund


  • Aggregation Method – IAIS publishes report on finalised criteria
  • Digital transformation – EIOPA launches survey
  • Reform of UK Solvency II – Treasury Committee publishes correspondence on financial stability

Financial Crime

  • AML/CTF – JMLSG publishes revised guidance


  • Suspension of nickel trading on the LME – FCA and Bank of England publish statements on supervisory action
  • R (Charles Street Securities Europe LLP) V Financial Ombudsman Service [2023] EWHC 448 (Admin)

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