Regulatory & Compliance – This Week At A Glance.

UNITED KINGDOM

• FCA: CP on new authorised fund regime for investing in long-term assets – productive finance

• FCA: Statement on work on liquidity mismatch in authorised open-ended property funds

• BoE: Statement on progress of the Working Group on Productive Finance

• Financial regulators publish third edition of plan for upcoming work

• FCA: Speech by CEO on regulation for a different world

• FCA/PSR: Speech by Chair on outcomes-focussed regulation

• FCA fines company for financial crime control failings

• FOS: Ombudsman News

• FCA insight article on banking, climate and competition

• PRA: Speech on mutual interests

• PRA: Speech on operational resilience

• HO/HMT: Statement of progress on Economic Crime Plan

• HMT: Updated guidance on open access regime for exchange traded derivatives

• FCA: CP on stronger nudge to pensions guidance

• PRA: Regulatory Digest for April 2021

• Law Commission: Call for evidence on digital assets

• CMA: Policy paper on DRCF 

EUROPE

• ESMA: CRA registration withdrawn

• EIOPA launches 2021 insurance stress test

• SRB: Speech by Chair at DIW Women's Finance Summit 2021

• OJ: Commission Implementing Regulation (EU) 2021/744 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 31 March 2021 until 29 June 2021

• ESMA: Updated opinion on ancillary activity calculations

• EBA: Consultation on a central AML/CFT database 

• ECB: Speech by President on a green CMU for Europe

• OJ: Commission Delegated Regulation (EU) 2021/732 amending Delegated Regulation (EU) No 667/2014

• OJ: Commission Delegated Regulation (EU) 2021/731 supplementing EMIR

• EC: Commission Delegated Regulations 

• EC: Report to EP and Council under EMIR

• ESMA: Updated Q&As on Prospectus Regulation

• Regulation and Decisions on SIPS published in OJ; Updated ECB webpage on revision of oversight requirements for SIPS 

• European Ombudsman opens inquiry into EBA

• EBA: Report on mystery shopping activities of NCAs

• EBA: DP on review of the NPL transaction data templates

• ESAs: BoA dismisses appeal against EIOPA

• ECB: Speech on Basel III implementation

• ACER: Guidance to facilitate REMIT transaction reporting

AUSTRALIA

• ASIC quarterly update January to March 2021

• ASIC commences proceedings against a major bank for alleged insider trading, unconscionable conduct and financial services licence breaches

• Firms offering debt management services require credit licence to operate

• APRA Deputy Chair speaks to Customer Owned Banking Association CEO & Directors Forum about risk, cyber-attacks and proportionate regulation

• AUSTRAC directs bank to review its anti-money laundering and counter-terrorism financing controls

• Banking Code Compliance Committee sanctions bank for breaches of the Banking Code

HONG KONG

• Legislative amendments to provide tax concessions for carried interest distributed by eligible private equity funds enacted

• HKMA issues guideline on Green and Sustainable Finance Grant Scheme

• HKMA concludes consultation on mandatory reference checking scheme to address “rolling bad apples” phenomenon

• Insurance Authority announces details of Pilot Insurance-linked Securities Grant Scheme

SINGAPORE

• MAS consults on revisions to the Guidelines on Corporate Governance

• MAS launches Global FinTech Hackcelerator for a Greener Financial Sector

• MAS releases various regulatory forms and templates

MALAYSIA

• BNM Climate Change and Principle-based Taxonomy guidance

• SCM publishes updated MCCG 

INDIA

• SEBI seeks feedback on recommendations made by the Technical Group on the SSE

• Covid-19: RBI announces utilisation of floating provisions/countercyclical provisioning buffer

• Covid-19: RBI announces extension of required periodic updating of KYC – Restrictions on Account Operations for Non-compliance

• RBI notification – Credit to MSME Entrepreneurs

• Covid-19: RBI updated Resolution Framework 2.0 – individuals, small businesses, MSMEs

• Covid-19: SEBI announces relaxation of timelines for compliance by DTs

• Covid-19: SEBI releases timelines for updating mutual funds' SIDs and KIMs

UNITED STATES

• DoJ: Pharmaceutical Company to Pay $12.6 Million to Resolve False Claims Act Allegations for Paying Kickbacks

• SEC Charges Texan with Defrauding Investors in a Purported Wireless Energy Project

• SEC Charges Online Tutoring Company and Its CEO with Fraud

• IOSCO: Report on thematic review of business continuity plans

• FMSB: Final standard for the execution of large trades in FICC markets

• BCBS, CPMI, and IOSCO survey clients and non-bank intermediaries on margin calls 

• LEIROC: Revised CDE technical guidance on harmonisation of critical OTC derivatives data elements