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ESG: European Regulators Confirm Approach to SFDR Compliance from 10 March 2021 | Akin Gump Strauss Hauer & Feld LLP


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The European Supervisory Authorities (ESAs) have published a Supervisory Statement to clarify the application of the Sustainable Finance Disclosure Regulation (SFDR)
1 in anticipation of the requirements applying in the European Economic Area (EEA) from 10 March 2021. The Supervisory Statement does not impose new requirements on financial market participants and advisers, but confirms the industry approach to using the draft Regulatory Technical Standards (RTS) as a reference point in their compliance efforts for the 10 March 2021 deadline.
The RTS implement the more detailed requirements of the SFDR through secondary rules, which, due to the disruption caused by COVID-19, will not be finalised by 10 March 2021, as originally intended. ....

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Global Payments Newsletter, February 2021 | Hogan Lovells


Key developments of interest over the last month include:
• United Kingdom: The Payment Systems Regulator (PSR) has published two calls for views, one of which focuses on authorised push payment (APP) scams and the other on consumer protection in interbank payments.
• India: The government is planning a cryptocurrency bill with the aim of establishing a framework for the creation of an official digital currency to be issued by the Reserve Bank of India.
• United Kingdom: The FCA is consulting on changes to its technical standards on strong customer authentication (SCA) and common and secure methods of communication (UK SCA-RTS)  and to its Payment Services and Electronic Money Approach Document. ....

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The Developing Regulatory Approach To Climate Change And The Importance For Financial Services - Finance and Banking


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The 2015 United Nations climate change summit in Paris (COP21)
saw the first ever agreement under which virtually every country,
including the UK, pledged to constrain their greenhouse gas
emissions, with the aim of keeping average temperature increases
well below 2˚C above pre-industrial levels. Globally, there
has been an increasing recognition by central banks and financial
services regulators of the potential impact of climate change on
financial services markets and the important role that financial
services markets have on helping to combat climate change.
In the UK, the Government issued its 25 year Environment Plan in ....

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Banking and finance regulatory news, January 2021 | Hogan Lovells


Recent regulatory developments focussing on banking and finance. 
Contents
End of Brexit transition period: BoE and SRB cooperation arrangement
MREL and resolvability for mid-tier banks: BoE extends deadline
MREL: BoE discussion paper
CRD V implementation and designation of firms within certain consolidation groups: PRA PS29/20
International banks: PRA CP2/21 on approach to branch and subsidiary supervision
Transposing BRRD II: PRA PS28/20
LIBOR transition: Working Group paper on credit adjustment spread methods for active transition GBP LIBOR referencing loans
SSM banks: ECB guide on supervisory approach to consolidation
SRB permission regime for reduction of eligible assets: SRB communication
BRRD: EBA second report on simplified obligations and waivers ....

United Kingdom , Keith Skeoch , David Bailey , John Glen , John Vickers , Hogan Lovells , European Banking Authority , Commission On Banking , European Central Bank , Banking Union , Group On Sterling Risk , Prudential Regulation Authority , Journal Of The European Union , European Union Withdrawal , Bank Recovery , House Of Commons Treasury Committee , European Parliament , Supervisory Statement Ss International , European Commission , Financial Conduct Authority , Financial Services , Commission Implementing Regulation , Working Group , Implementing Regulation , Delegated Regulation , Commons Treasury Committee ,