Banking and Finance regulatory news in 2021

Banking and Finance regulatory:

UK Securitization Regulations: Review of HM Treasury

HM Treasury has requested evidence to inform the revised EU legislative version of the EU Securitization Regulation (or “Sec Reg”). Section 46 of the Act requires the Treasury to review the operation of the Act and submit a report to Parliament by January 1, 2022, assessing the following:

Effects of Sec Reg – including the introduction of the simple, transparent and standardized securitization framework (STS) – on the functioning of the securitization market, the contribution of securitization to the real economy (especially in access to credit for SMEs) large enterprises – large enterprises and investment), and the interdependence between financial institutions and the stability of the financial sector;

• methods to maintain the risk;

• private security communications;

• An STS equivalence regime;

• environmental, social, and management information;

• the third-party verification regime; To be

• banks with limited licenses.

In addition, the UK Treasury Department will investigate how Sec Seconds can work better for the British financial market and economy after Brexit.

Responses to the call must be received by September 2, 2021.

UK CRR: FPC and PRA CP14/21 on UK leverage changes

The Bank of England (BoE) has published consultations (in the same document, CP5/21) of the Financial Policy Committee (FPC) and the Prudential Regulation Committee (PRA) on changes to leveraged financing in the UK. This search is relevant for all CRRs and CRR consolidation entities on a consolidated and, if applicable, sub-consolidated basis and marketing basis.

The FPC has conducted a comprehensive review of the UK leverage framework in light of the revised international standards and its ongoing commitment to review its policy approach. CP14/21 describes the changes that the FPC proposes to the framework and the approach that the PRA proposes to implement these changes, in two consultation documents: one from the FPC (in part 1) and one from the PRA (in part ). At the same time, partly in light of international developments, the PRA revised the leverage ratio framework and coordinated the revision in close cooperation with the FPC. The PRA believes that the CVT proposals contribute to the objectives of the PRA.

The consultation ends with comments on 24 August 2021. If the FPC makes the proposed changes to the UK leverage framework, the PRA proposes to publish the implementation date for the definition, reporting, and reporting. Extensive exposure to leverage in the UK. is January 1, 2022. Changes to the scope and level of application of the minimum requirement, reserves, and related additional disclosure and disclosure requirements for companies that have recently fallen below the minimum leverage ratio will be effective January 1, 2023.

Retail Banking: FCA Letter Dear CEO on General AML Bankruptcies

The Financial Conduct (FCA) has sent a letter, dear CEO, to the companies in its retail banking portfolio outlining steps to address common deficiencies in overseeing their Anti-Money Laundering (AML) structures.

The FCA is disappointed that it continues to identify some companies’ signature vulnerabilities in key areas of financial crime systems and governance structures.

including:

• management and supervision;

• risk assessments;

• out of zeal;

• monitoring of operations; To be

• Suspicious Activity Reports (SARs).

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