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

    HKMA on Fintech Adoption and Innovation by Banks in Hong Kong

    HKMA announced the publication of a report on fintech adoption and innovation in the banking industry in Hong Kong.

    May 20, 2020 WebPage Regulatory News
    News

    BIS on Impact of Increasing Use of Cloud Technology on Cyber Risk

    BIS published a working paper that examines the drivers of cyber risk, especially in context of the cloud services.

    May 20, 2020 WebPage Regulatory News
    News

    ECB Consults on Guide for Managing Climate and Environmental Risks

    ECB launched consultation on a guide specifying how the Banking Supervision expects banks to consider climate-related and environmental risks in their governance and risk management frameworks and when formulating and implementing their business strategy.

    May 20, 2020 WebPage Regulatory News
    News

    ECB Issues Opinion on Revisions to CRR in Response to COVID Crisis

    ECB published an opinion (CON/2020/16) on amendments to the prudential framework in EU in response to the COVID-19 pandemic.

    May 20, 2020 WebPage Regulatory News
    News

    EBA Assesses Interlinkages Between Recovery and Resolution Planning

    EBA published a report that examines the interlinkages between recovery and resolution planning under the Bank Recovery and Resolution Directive (BRRD).

    May 20, 2020 WebPage Regulatory News
    News

    SRB Publishes Final MREL Policy Under the Banking Package

    SRB published the final Minimum Requirements for Own Funds and Eligible Liabilities (MREL) policy under the Banking Package.

    May 20, 2020 WebPage Regulatory News
    News

    EIOPA Risk Assessment Shows Increase in Credit and Market Risks

    EIOPA published its risk dashboard based on Solvency II data from the fourth quarter of 2019.

    May 18, 2020 WebPage Regulatory News
    News

    MNB Issues Statement on Loan Payments After Moratorium Expires

    MNB published a statement on loan payments post the announced moratorium, in addition to a set of new questions and answers (Q&A) on supervisory measures and requirements announced amid COVID-19 pandemic.

    May 18, 2020 WebPage Regulatory News
    News

    EBA Single Rulebook Q&A: Second Update for May 2020

    EBA updated the Single Rulebook question and answer (Q&A) tool for banks.

    May 15, 2020 WebPage Regulatory News
    News

    US Agencies Temporarily Amend Supplementary Leverage Ratio Calculation

    US Agencies (FDIC, FED, and OCC) published an interim final rule that temporarily revises the supplementary leverage ratio calculation for depository institutions.

    May 15, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5195