Banking

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  • 2. FiMaNoG - Update 2017

    Article

    Submitted: 12 January 2017

    MiFID 2 Umsetzung: Die Bundesregierung hat den Regierungsentwurf des 2. FiMaNoG veröffentlicht. Simmons & Simmons bietet eine konsolidierte Fassung.

  • Digital payments in the UAE - a new Framework

    Article

    Submitted: 12 January 2017

    On 01 January 2017, the UAE Central Bank published a “Regulatory Framework for Stored Values and Electronic Payment Systems” (the Framework).

  • Credit Funds and uncertainty resulting from new Bank of Italy regulation

    Article

    Submitted: 04 January 2017

    Romeo Battigaglia comments on the Bank of Italy’s new regulation on collective investment schemes and how this affects AIFs and Credit Funds.

  • BaFin publishes general ruling on own funds requirements for LSIs to address interest rate change risk in the banking book Restricted access

    Article

    Submitted: 30 December 2016

    The German regulator has published a general ruling requiring Less Significant Institutions (LSIs) to comply with additional own funds requirements of up to 2.6%.

  • BaFin concludes investigation into closet indexing funds Restricted access

    Article

    Submitted: 29 December 2016

    ​The German regulator has concluded its investigation into actively managed funds that effectively only appear to track a benchmark index and has started a public consultation process on information that should be included in the fund documentation.

  • Recapitalisation of the Italian bank MPS by the Italian Government and other urgent measures

    Article

    Submitted: 28 December 2016

    The Italian Government has approved an urgency law decree with the immediate objective of rescuing the Italian bank MPS and with the wider purpose to support the Italian banking system.

  • OECD updates BEPS report on interest deductions

    Article

    Submitted: 23 December 2016

    The OECD has released further guidance on the group ratio rule and addressing BEPS involving interest deductions in relation to banking and insurance groups.

  • FCA Thematic Review on early arrears management in unsecured lending

    Article

    Submitted: 20 December 2016

    ​The Financial Conduct Authority (FCA) has published a report providing the findings from its Thematic Review into early arrears management in unsecured lending. The review looked at the way lenders treated customers in the early stages of arrears, and we have noted a few key takeaways which can guide a firm’s behaviour and policy.

  • FCA Advice Unit to re-open for applications on 03 January 2017

    Article

    Submitted: 19 December 2016

    The Financial Conduct Authority (FCA) Advice Unit is part of Project Innovate, which aims to encourage innovation in financial services in the interests of consumers, and is open to those already authorised as well as firms seeking authorisation. Of particular interest is the feedback from the first tranche of applications.

  • BaFin postpones decision on ban sales of credit-linked notes Restricted access

    Article

    Submitted: 16 December 2016

    ​In an immediate response to the proposed ban of the sale of credit-linked notes to retail clients set out in a consultation paper of the BaFin key German finance market associations have published “self-binding principles” for the issuance of such products to address. As a reaction to the self-restriction of the main market participants, BaFin has postponed the proposed prohibition by at least a half year.

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