Tuesday’s Draft Capital Requirements (Amendment) (EU Exit) Regulations 2018 is one of the many SIs we have been expecting as the UK Government prepares for the onshoring of financial services regulation. These ones deal with the prudential regulation for financial institutions under the CRR and CRD IV. At present exposures to EU and equivalent entities […]
This morning’s UK Government White Paper drops the sensible but apparently politically unacceptable mutual equivalence idea. Chapter 1, headed “Economic Partnership”, has fourteen paragraphs (58-71) which deal with financial services. There is a lot of double-speak, probably inevitably in the circumstances, e.g.: on the one hand each side should have autonomy of decision-making and the […]
Its consultation on “Securitisation: the new EU framework and significant risk transfer” runs until 22nd August. It is relevant to all regulated banks (under CRD IV) and insurers (under Solvency II). There is nothing controversial in it.