JD Supra United Kingdom

JD Supra
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Latest documents

  • Securities and markets regulatory news, June 2021

    DvP clients: FCA and PRA Dear CRO letter on counterparty credit exposure management and controls -
 The UK Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) have published a letter to chief risk officers (CROs) of regulated firms on pre-settlement counterparty credit exposure management and controls for "delivery versus payment" (DvP) clients.

  • Funds and asset management regulatory news, June 2021

    UCITS funds: HM Treasury announces extension of PRIIPs exemption -
 HM Treasury has announced that the current exemption for Undertakings for the Collective Investment in Transferable Securities (UCITS) funds from the requirements of the UK retained EU law version of the Packaged Retail Investment and Insurance-based Products (PRIIPs) Regulation (UK PRIIPs Regulation) will be extended by five years to 31 December 2026.

  • COVID-19: The country is opening up – what does this mean to your business?

    It is over a year since the first UK-wide lockdown and, as time has passed, our understanding of the virus and familiarity with the safety measures it necessitates has increased.  But neither individuals or organisations can afford to become complacent. 

  • Banking and finance regulatory news, June 2021

    Resolution assessments: PRA PS10/21 on amendments to reporting and disclosure dates -
 Following its consultation in CP19/20, the UK Prudential Regulation Authority (PRA) has published a policy statement, PS10/21, on amendments to reporting and disclosure dates for resolution assessments. PS10/21 is relevant to UK banks and building societies with £50 billion or more in retail deposits on an individual or consolidated basis, as at the date of their most recent annual accounts.

  • Payments regulatory news, June 2021

    Proposed codified EU Regulation on cross-border payments: JURI draft report -
 The European Parliament's Legal Affairs Committee (JURI) has published a draft report containing a draft European Parliament legislative resolution on the European Commission's legislative proposal for a Regulation on cross-border payments in the EU, to codify and replace the existing Regulation on cross-border payments.

  • LMA Publish Recommended Form of Reference Rate Selection Agreement

    On June 4, 2021, the Loan Market Association (LMA) published a recommended form of its reference rate selection agreement (the Selection Agreement), which has been updated following market feedback. The Selection Agreement has been updated to reflect the LMA’s suite of RFR-based documentation and rate switch agreements, and the conventions found in those documents.

  • Insurance regulatory news, June 2021

    GBP transition to SONIA under Solvency II regime: PRA PS12/21 -
 The UK Prudential Regulation Authority (PRA) has published a policy statement, PS12/21, on deep, liquid and transparent (DLT) assessments and GBP transition to the Sterling Overnight Index Average (SONIA), under the Solvency II regime.

  • UK Employment Appeal Tribunal Advances Scope of Statutory Protection for Strikers

    The UK Employment Appeal Tribunal (EAT) handed down its judgment in Mrs F Mercer v. Alternative Future Group Ltd. and Others on 2 June 2021. The EAT found that the relevant provisions in UK legislation protecting workers against detriment related to taking part in independent trade union activities ought to be construed as if such…

  • Employment News: jurisdiction, trade unions

    If not now then when? Tribunal should have identified when jurisdiction established -
 An employment tribunal only has jurisdiction to hear claims under the Employment Rights Act 1996 and Equality Act 2010 if the claimant has a sufficient connection with Great Britain and British employment law.

  • Financial institutions general regulatory news, June 2021

    SMCR: PRA PS11/21 and FCA Handbook Notice 88 on temporary, long-term absences -
 The UK Prudential Regulation Authority (PRA) has published a policy statement, PS11/21, which confirms its final policy relating to temporary, long-term absences by senior managers under the Senior Managers and Certification Regime (SMCR).

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