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Surveys and Reports Regulatory Developments United Kingdom: Financial Services Act 2021 becomes law On 29 April 2021, the Financial Services Bill 2019-21 received Royal Assent. In a press release, HM Treasury described the Financial Services Act 2021 (the Act) as a ‘major milestone in shaping a regulatory framework for UK financial services outside of the EU.’ The Act makes significant amendments to key legislation, including the Financial Services and Markets Act 2000 (FSMA) and onshored EU financial services regulation. Sections of particular relevance include the following: Section 29 ...

Fitch affirms Bulgaria's Fibank at 'B', outlook negative Author: First Investment Bank Licence: All Rights Reserved SOFIA (Bulgaria), May 26 (SeeNews) - Fitch Ratings said that it has affirmed the Long Term Issuer Default Rating (IDR) of Bulgaria's First Investment Bank (Fibank) [BUL:FIB] at 'B' with a negative outlook, and the bank's Viability Rating (VR) at 'b'. Fibank's ratings reflect its substantial asset quality pressures and high capital encumbrance, which weigh on its ratings despite the solid medium term recovery prospects for the Bulgarian economy, Fitch Ratings sa...

To embed, copy and paste the code into your website or blog: Reports on key recent regulatory developments focussing on banking and finance. See also our Financial institutions general regulatory news and other sector news in the Related Materials links. Contents LIBOR transition: Working Group recommends successor rate for fallbacks in bond documents Securitisation requirements: ECB to supervise bank compliance SSM reporting of supervisory financial information: ECB adopts amendments EU crisis management and deposit insurance framework review: SRB blueprint EBA report on reliance on external...

Reports on key recent regulatory developments focussing on banking and finance.  Contents COVID-19: PRA update on disclosure of exposures subject to COVID-19 response measures Prudential framework for non-systemic banks and building societies: PRA DP1/21 "Higher paid material risk taker": PRA CP9/21 on correcting definition Remuneration benchmarking and remuneration high earners reporting templates: PRA statement BRRD: European Commission adopts Delegated Regulation on contractual recognition of stay powers CRR: EBA consults on draft ITS on supervisory reporting relating to additional liquid...

To embed, copy and paste the code into your website or blog: Reports on key recent regulatory developments focussing on banking and finance. See also our Financial institutions general regulatory news and other sector news in the Related Materials links. Contents Mortgage Guarantee Scheme: PRA statement on regulatory treatment of mortgage loans LIBOR transition in sterling structured products: Working Group paper EU CRR: Implementing Regulation on ITS on public disclosures Targeted review of internal models: ECB results CRR: EBA final draft RTS on methods of prudential consolidation BRRD: upd...