Thursday, January 7, 2021
31 December
The Brexit Transitional Period (pursuant to which the UK stayed in the Single Market and European Customs Union came to an end. The FCA updated its Brexit webpages to remind firms of the potential impact this will have.
30 December
In relation to Brexit, the UK-EU Trade and Cooperation Agreement was signed, which would apply from 1 January 2021.
28 December
The Prudential Regulation Authority ( PRA ) published a policy statement (PS29/20) on the implementation of the CRD V Directive (EU/2019/878) (
CRD V ).
24 December
In relation to Brexit, the United Kingdom and European Union agreed in principle a Trade and Cooperation Agreement, an Agreement on Nuclear Cooperation and an Agreement on Security Procedures for Exchanging and Protecting Classified Information.
F
EELGOOD firms which put the environment, society and corporate governance - the holy trinity dubbed ESG - at the heart of their operations were the big winners to emerge from 2020’s Covid-19 battered economy.
Exchange traded funds (ETFs) which focus their investments on these ethical stocks recovered from the pandemic at a pace and scale which left other sectors standing. Covid was the moment,” one senior investment manager told the Standard. “Covid was the stress test for ESG. Before then, people were cynical, saying ESG was a fair-weather phenomenon. They’d say ’just you wait until the next recession, everyone will hunker back in sovereign bonds.’
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Recent regulatory developments of interest to all financial institutions. See also sector specific updates in the Related Materials links.
Contents
Sanctions Regulations (EU Exit) (Commencement) Regulations 2020
UK financial services overseas framework: HM Treasury call for evidence
BoE Financial Stability Report and FPC summary and record
SMCR implementation: PRA evaluation
UK Investment Firms Prudential Regime: FCA CP20/24
FCA Handbook Notice 83
FOS consults on plans and budget for 2021/22
FOS Ombudsman News 156
IFD: EBA consults on draft guidelines on internal governance
IFD: EBA consults on draft guidelines on soundremuneration policies
IFR and IFD: EBA final report on draft RTS on prudential requirements
The Rundown
The Supreme Court hands New Mexico a victory over Texas in a case centered on
reservoir evaporation. The Federal Reserve is now a member of a central bank group focused on the
financial implications of climate change. The GAO uses demographic and housing data to analyze the location of
lead service lines. A Colorado senator says that
clean water for Native American tribes should be a federal priority. The Bureau of Reclamation reviews the guidelines for managing the
Colorado River. The House passes a bill to provide low-interest loans for
weather-disaster preparation. Florida gets EPA approval to run its own
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