Featured Product

    FCA Consults on Costs for Regulating Securitization Repositories

    January 08, 2019

    FCA sets out proposals (CP19/1) for recovering the costs of regulation from securitization repositories after UK leaves EU. This paper sets out the fees structure FCA intends to establish for securitization repositories when responsibility for their regulation passes to FCA from ESMA after Brexit. Securitization repositories are established under the Securitization Regulation and none have yet been formed. Comments are requested by February 11, 2019.

    FCA will communicate separately on authorization and supervision of securitization repositories. Post the January 01, 2019 effective date for the Securitization Regulation, firms wishing to establish securitization repositories will be able to apply to be regulated by ESMA. When UK leaves EU, FCA is expected to become the regulatory authority of securitization repositories in the UK. The HM Treasury has stated its intention to introduce regulations that would allow FCA to use powers under the Financial Services and Markets Act 2000 (FSMA) to recover fees from them. CP19/1 applies to firms that are considering setting up a securitization repository. It is not directly relevant to retail financial services consumers, although fees are indirectly paid by users of financial services.

     

    Related Links

    Comment Due Date: February 11, 2019

    Keywords: Europe, UK, EU, Banking, Securities, Brexit, Securitization Repositories, Regulating Cost, CP19/1, ESMA, FCA

    Related Articles
    News

    OSFI Publishes Instruction Guide on Solvency Information Return

    OSFI published an instruction guide to assist administrators of pension plans in completing the Solvency Information Return that is required to be filed with OSFI.

    January 17, 2020 WebPage Regulatory News
    News

    EU Amends IFRS 9 Rule, Changes Concern Interest Rate Benchmark Reforms

    EU published Regulation 2020/34 regarding the International Accounting Standard (IAS) 39 and International Financial Reporting Standards (IFRS) 7 and 9.

    January 16, 2020 WebPage Regulatory News
    News

    FDIC and OCC Issue Statement on Heightened Cyber Security Risk

    In response to the heightened cyber-security risk facing the financial services industry and other critical business sectors, FDIC and OCC issued an interagency statement on heightened cyber-security risk.

    January 16, 2020 WebPage Regulatory News
    News

    BCRA Updates Regulation on Capital Requirements and Information Regime

    BCRA updated the rules on minimum capital requirements for financial entities and on certain aspects of the information transparency regime for quarterly and annual supervision.

    January 16, 2020 WebPage Regulatory News
    News

    BoE and FCA Outline Next Steps for LIBOR Transition in 2020

    BoE, FCA, and the Working Group on Sterling Risk-Free Reference Rates (RFRWG) have published a set of documents that outline the LIBOR transition priorities and milestones for 2020.

    January 16, 2020 WebPage Regulatory News
    News

    BIS to Expand Central Bank Membership

    BIS is to expand its central bank membership base and to increase collaboration in its work as a forum for international cooperation and as a hub for central banks and other financial authorities.

    January 14, 2020 WebPage Regulatory News
    News

    EIOPA Issues Technical Specifications for Market and Credit Risk Study

    EIOPA published the technical specifications, including instructions, for the market and credit risk modeling comparative study for year-end 2019.

    January 13, 2020 WebPage Regulatory News
    News

    FED Publishes FAQs on Tailoring Rules for Banks

    FED released a letter announcing the publication of an initial set of frequently asked questions (FAQs) in response to questions from institutions.

    January 13, 2020 WebPage Regulatory News
    News

    IA of Hong Kong Publishes Stress Testing Scenarios in Relation to ORSA

    IA of Hong Kong published the prescribed scenarios for stress and scenario testing to be used by the authorized insurers conducting general insurance business.

    January 13, 2020 WebPage Regulatory News
    News

    ISDA Paper Examines Legal Aspects of Smart Contracts Using Blockchain

    ISDA published a paper that discusses legal aspects of smart derivatives contracts that use the distributed ledger technology (DLT), which is also commonly known as the blockchain technology.

    January 13, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 4505