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Brexit Please see the Other Developments section for the MoU agreed between the ECB, FCA and BoE on post-Brexit supervisory cooperation, effective from 1 January. Capital Markets Please see the Markets and Markets Infrastructure section for a speech by Mairead McGuinness, European Commissioner for Financial Services, Financial Stability, and Capital Markets Union on future regulatory developments. Consumer / Retail  Please see the Markets and Markets Infrastructure section for a statement by Steven Maijoor, ESMA Chair, to the EP’s Economic and Monetary Affairs Committee relating to GameSto...

Summary Amendments have been made to the FCA’s Dual-Regulated firms Remuneration Code under SYSC 19D and the Remuneration Part of the PRA Rulebook (together the “Remuneration Codes”) to implement the remuneration aspects of the EU Capital Requirements Directive V (“CRD V”).  CRD V builds on CRD IV and introduces additional measures to reduce risks in the banking sector, including amending the requirements which apply to remuneration policies.  For those firms already subject to the Remuneration Codes – namely banks, building societies and PRA-designated investment firms – the ...

CRR: European Commission adopts Delegated Regulation on specialised lending exposures The European Commission has adopted a Delegated Regulation in respect of regulatory technical standards (RTS) for assigning risk weights to specialised lending exposures under Article 153(9) of the Capital Requirements Regulation (CRR). The draft RTS specify how institutions should take into account the factors of financial strength, political and legal environment, transaction and asset characteristics, strength of the sponsor and developer, and security package when assigning risk weights to specialised le...