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

    FINMA Approves Merger of Credit Suisse and UBS

    The Swiss Financial Market Supervisory Authority (FINMA) has approved the takeover of Credit Suisse by UBS.

    March 21, 2023 WebPage Regulatory News

    BOE Sets Out Its Thinking on Regulatory Capital and Climate Risks

    The Bank of England (BOE) published a working paper that aims to understand the climate-related disclosures of UK financial institutions.

    March 13, 2023 WebPage Regulatory News

    OSFI Finalizes on Climate Risk Guideline, Issues Other Updates

    The Office of the Superintendent of Financial Institutions (OSFI) is seeking comments, until May 31, 2023, on the draft guideline on culture and behavior risk, with final guideline expected by the end of 2023.

    March 12, 2023 WebPage Regulatory News

    APRA Assesses Macro-Prudential Policy Settings, Issues Other Updates

    The Australian Prudential Regulation Authority (APRA) published an information paper that assesses its macro-prudential policy settings aimed at promoting stability at a systemic level.

    March 07, 2023 WebPage Regulatory News

    BIS Paper Examines Impact of Greenhouse Gas Emissions on Lending

    BIS issued a paper that investigates the effect of the greenhouse gas, or GHG, emissions of firms on bank loans using bank–firm matched data of Japanese listed firms from 2006 to 2018.

    March 03, 2023 WebPage Regulatory News

    HMT Mulls Alignment of Ring-Fencing and Resolution Regimes for Banks

    The HM Treasury (HMT) is seeking evidence, until May 07, 2023, on practicalities of aligning the ring-fencing and the banking resolution regimes for banks.

    March 02, 2023 WebPage Regulatory News

    MFSA Sets Out Supervisory Priorities, Issues Reporting Updates

    The Malta Financial Services Authority (MFSA) outlined its supervisory priorities for 2023

    March 02, 2023 WebPage Regulatory News

    German Regulators Issue Multiple Reporting Updates for Banks

    Deutsche Bundesbank published the nationally deactivated validation rules for the German Commercial Code (HGB) users on the taxonomy 3.2, which became valid from December 31, 2022

    March 02, 2023 WebPage Regulatory News

    BCBS Report Examines Impact of Basel III Framework for Banks

    The Basel Committee on Banking Supervision (BCBS) published results of the Basel III monitoring exercise based on the June 30, 2022 data.

    February 28, 2023 WebPage Regulatory News

    PRA Consults on Prudential Rules for "Simpler-Regime" Firms

    Among the recent regulatory updates from UK authorities, a key development is the first-phase consultation, from the Prudential Regulation Authority (PRA), on simplifications to the prudential framework that would apply to the simpler-regime firms.

    February 28, 2023 WebPage Regulatory News
    RESULTS 1 - 10 OF 8806