Events listed in [FCA] Financial Conduct Authority
FG23/4: Dual-regulation firms Remuneration Code (SYSC 19D): Frequently asked ...
ID 26081
The Financial Conduct Authority, FCA, has published revised frequently asked questions (FAQs) as to the remuneration policies of dually regulated CRR firms including investment firms, banks, and building societies. These FAQs are intended to assist firms in their understanding of the Guidelines on sound remuneration policies under Articles 74(3) and 75(2) of Directive 2013/36/EU and disclosures under Article 450 of Regulation (EU) No 575/2013 ...
FG23/5: General Guidance on Proportionality: The Dual-regulated firms Remuneration ...
ID 26080
The Financial Conduct Authority, FCA, has published a revised general guidance on Proportionality: The Dual-regulated firms Remuneration Code (SYSC 19D)(FG23/5) for CRR regulated firms, including investment firms, banks, and building societies. The guidance presents an updated version of FG20/4 and provides support as regards the following issues: – a general overview of the proportionality levels to be used for classification of CRR firms for ...
FCA 2023/40: Senior Management Arrangements, Systems and Controls Instrument 2023
ID 26076
The Financial Conduct Authority (FCA) has issued new instrument (FCA 2023/40) to implement the changes to the FCA Handbook as provided for in the joint Policy Statement (FCA PS23/17 – PRA PS16/23) (EventID 24252) of the FCA and the Prudential Regulation Authority (PRA) in relation to the remuneration (policy) requirements of dually regulated CRR firms, including investment firms, banks, and building societies. Specifically, the ...
PS23/17: Remuneration: enhancing proportionality for small firms
ID 26074
The Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) have published a joint Policy Statement (FCA PS23/17 – PRA PS16/23) as regards the criteria to be classified as a smaller firm for purposes of applying less stringent rules on the remuneration requirements of such firms, including corresponding reporting obligations. #### Background Earlier this year, the FCA and PRA each launched a consultation ...
CP23/27: Reforming the commodity derivatives regulatory framework
ID 26067
The FCA published the consultation paper CP23/27, titled „Reforming the commodity derivatives regulatory framework,“ presenting a set of proposals for overhauling the regulatory framework governing commodity derivatives in the UK. The primary focus areas include position limits, exemptions from those limits, position management controls, the reporting regime, and the ancillary activities test. The fundamental objective of these proposed reforms is to address the r ...
FCA seeks views on regulatory approach for overseas funds
ID 26064
In view of the government’s intention to eliminate EU retained regulation (REUL) and replace it with meaningful, proportionate, and commensurate legislation that suits the UK financial market, the Financial Conduct Authority (FCA) has launched a consultation (CP23/26) on a new regulatory regime for overseas funds, that is investment funds issued in countries other than the UK that seek distribution in the UK. The key ...
Memorandum of Understanding between the Office of Financial Sanctions (OFSI) and ...
ID 26041
The Memorandum of Understanding (MoU) between the Office of Financial Sanctions Implementation (OFSI) and the Financial Conduct Authority (FCA) establishes a framework for cooperation and information exchange. Effective from the date of signature, this MoU replaces a previous agreement dated April 2019 and governs the collaborative efforts of the two entities in carrying out their respective functions. Notably, it clarifies that the MoU is ...
Article 21(3) Benchmarks Regulation – Notice of First Decision – 3 month sterling ...
ID 26040
The Financial Conduct Authority (FCA) has published a so-called Notice of First Decision which is primarily addressed at the LIBOR benchmark administrator ICE Benchmark Administration Limited (IBA) and sets out the requirement for IBA to continue to publish the synthetic 3-month sterling LIBOR tenor beyond December 29, 2023, the initial last day for such publication. Specifically, in view of the current use of the ...
CP23/25: Quarterly Consultation Paper No. 42
ID 26039
The FCA has posted miscellaneous improvement proposals to the FCA Handbook. Chapter 2: Training and Competence (TC) qualifications table Financial services qualifications table has been updated to recognise International Capital Market Association (ICMA) a sole qualifications provider, update to Operations Certificate Programme (OCP) and Chartered Institute for Securities and Investment (CISI) availability programmes. **Chapter 3: minor consequential amendments to CREDS as a ...
Credit Rating Agency UK Market Share Report for 2022
ID 26023
In view of Article 8d of the Retained Credit Rating Agencies Regulation (UK CRAR) which mandates that 1. issuers in UK that rely on two or more credit rating agencies (CRAs) for their rating shall use one CRA that has no more than 10% market share in the UK (if not, they have to document the reasons as to why they did not choose ...