Follow Us

Follow us on Twitter  Follow us on LinkedIn
 

20 October 2016

This week in "Brussels"



  Jump directly to
Banking Securities Insurance
Asset Management Corporate Governance/Accounting Structured CPD: Workbook Brussels4Brunch
    About this email

  Articles from 13 October 2016 - 20 October 2016

  Banking
 
 
EBA publishes work programme for 2017
The programme describes the specific activities and tasks of the Authority for the coming year, as well as a multiannual work programme, highlighting the key strategic areas of work until 2020.  View Article
EBA recalls key deadlines for data submission for the 2017 benchmarking exercise of internal approaches
This would ensure a smooth and timely start of the exercise although the Commission's endorsement of the amended version of the Implementing Technical Standards (ITS) on benchmarking of internal approaches for running the 2017 exercise is still pending.   View Article
Reuters: ECB urges EU to curb virtual money on fear of losing control
In a legal opinion, the ECB said EU institutions should not promote the use of digital currencies and should make clear they lack the legal status of currency or money.  View Article
Reuters: EU's Vestager says keeps close eye on state aid for banks
The comments at a conference in Florence came as ailing Italian bank Monte dei Paschi seeks to resolve its mass of bad loans without direct state support.  View Article
BIS: Eleventh progress report on adoption of the Basel regulatory framework
The report focuses on the status of adoption of all Basel III standards - which will become effective by 2019 - to ensure that the Basel standards are transformed into national law or regulation according to the internationally agreed timeframes.   View Article
Basel Committee: Final standard on TLAC holdings
The standard seeks to limit contagion within the financial system if a G-SIB were to enter resolution.  View Article
FCA publishes the final report of its investment and corporate banking market study
The final report confirms the findings of the interim report published in April 2016. It finds that whilst many clients feel well served by primary capital market services there were some areas where improvements could be made to encourage competition, particularly for smaller clients.  View Article
AFME comments on final FCA investment banking market study findings
Simon Lewis, Chief Executive of AFME: “We welcome the completion of the market study and note that the final report confirms the interim report’s general conclusion about the current provision of capital markets services."  View Article
 
  Securities
 
 
ISDA: Key trends in clearing for small derivatives users
ISDA has conducted an analysis of publicly available data on clearing to address concerns in the US and Europe.   View Article
CFTC approves proposed rule on the application of certain swap provisions of the commodity exchange act in cross-border transactions
The proposal defines key terms for cross-border transactions and addresses the cross-border application of the registration thresholds and external business conduct standards for swap dealers and major swap participants.  View Article
 
  Insurance
 
 
EIOPA: Exploring new horizons for the benefit of the citizens in the European Union
In this speech, Bernardino focuses on a comprehensive approach to supervisory convergence; the evolution of the PEPP in the context of the CMU; the priorities of the consumer protection agenda and next steps and challenges on the regulatory front.  View Article
Commercial Risk Europe: NN pursuit of Delta Lloyd suggests SII to drive M&A pick up - Fitch
Fitch predicts that well-capitalised firms will seek growth through acquisition of rivals hit harder by Solvency II.  View Article
Insurance Europe: Joint declaration on the social effects of digitalisation
ISSDC Chairman: “The European insurance industry is leading the way in developing cutting-edge products and services for consumers in a digital age."   View Article
 
  Asset Management
 
 
Investment & Pensions Europe: Brussels calls for debate over pan-European pension product
The European Commission is inviting pension funds, asset managers, insurance undertakings, individuals, consumers associations and public authorities to join the debate on the need for a pan-European pension product during a public hearing to be held on 24 October in Brussels.  View Article
Reuters: How EU fund rules leave gaps in investor protection
Managers can choose to have their funds overseen in another European Union (EU) country that allows them to charge fees that wouldn't be permitted at home. It means they can legally circumvent the rules imposed in their own country.  View Article
ESMA issues Guidelines on Remuneration Practices under UCITS and AIFMD
National Competent Authorities must notify ESMA whether they comply or intend to comply with the Guidelines, with reasons for non-compliance, within two months. ESMA will publish a compliance table based on the responses from the NCAs.  View Article
EFAMA publishes 2016 report on responsible investment
EFAMA presents the European asset management industry’s role and involvement in responsible investment and puts forward key recommendations for the future. The report is an update of EFAMA’s previous 2014 report on the same topic.   View Article
Better Finance and EFAMA release a joint letter on Packaged Retail and Insurance-based Investment Products
Better Finance and EFAMA have joined forces to call for investors’ concerns to be duly considered. The rules defining the detailed contents of the PRIIPs KID must be correctly calibrated so that investors are given meaningful, comprehensible and comparable information.  View Article
ISDA: GDP-linked bonds - a new design for sovereign debt markets
A model set of terms and conditions, or “term sheet,” for GDP-linked sovereign bonds has been prepared by an ad hoc working group consisting of investment managers, lawyers and economists from the Bank of England, together with support from ICMA and other trade associations.  View Article
Hedgeweek: Brexit tops list of DFM concerns
A CoreData Research study based on interviews with 92 DFMs shows seven in 10 (69 per cent) think Brexit poses a threat to investments, with around half citing weak global GDP growth (55 per cent) and geopolitical instability (52 per cent).  View Article
Investment & Pensions Europe: UK FRC flags Brexit, dividends as year-end accounting issues
In light of the referendum vote for the UK to quit the European Union, the FRC says “companies will need to consider the consequential risks and uncertainties in the political and economic environment and the impacts of those risks and uncertainties on their business”.  View Article
Investment & Pensions Europe: Industry experts welcome proposals for German pension reform
Pension experts in Germany have welcomed the proposed introduction of occupational pension plan subsidies for people with lower income and SMEs. The government is considering the introduction of subsidies for small and medium-sized enterprises for setting up new pension plans.  View Article
Investment & Pensions Europe: Dutch pensions industry seeks talks over cost of regulatory surveys
The Association of Insurers is also going to participate in the talks.  View Article
ALFI response to the European Commission consultation on cross-borders distribution
ALFI has identified and has drawn the attention of the Commission to the main barriers to the cross-border distribution of investment funds.  View Article
FCA publishes thematic review of annuity sales practices
The FCA wanted to establish whether firms provided customers with sufficient information about enhanced annuities.   View Article
 
  Corporate Governance/Accounting
 
 
IIA: Update of standards
The revised Standards go into effect January 1, 2017.  View Article
GRI: First Global Sustainability Reporting Standards set to transform business
GRI launched the world’s first global standards for sustainability reporting for disclosing non-financial information. These will enable companies around the world to be more transparent about their impacts on the economy, the environment and society.  View Article
ESMA and IFRS Foundation: Updated Statement of Protocols
The two organisations will deepen their cooperation on the development of IFRS Standards and support for their consistent application across the EU.  View Article
ECIIA Activity report: deepening governance community in Europe
ECIIA has strengthened its co-operation with rule-setters at the EBA, the ECB and the EC through a series of consultations on internal audit guidance.  View Article
 
  Structured CPD: Workbook Brussels4Brunch
 
 
Brussels for Brunch Monthly Roundup September 2016
This is the monthly Roundup that accompanies the September 2016 Webinar   View Article
 

  Graham's tweets


© Graham Bishop


< Next Previous >
Key
 Hover over the blue highlighted text to view the acronym meaning
Hover over these icons for more information



Add new comment