Category Archives: Financial Services
Supervision
Single Supervisory Mechanism Framework regulation Regulation (EU) No 468/2014 — EU mechanism for banking supervision (SSM framework regulation) It sets out the legal framework on the practical arrangements for ...
Dividend and Remuneration Policy
Bank dividend policy – ECB recommendation Recommendation of the European Central Bank on dividend distribution policies (ECB/2015/49) This is a recommendation from the European Central Bank (ECB) on bank dividend ...
Resolution
Establishing bank resolution funds Communication (COM(2010) 254 final) — Bank Resolution Funds It describes the intentions of the European Commission concerning the establishment of bank resolution funds. KEY POINTS ...
Accounts and Audit
International accounting standards adopted within the European Union Regulation (EC) No 1126/2008 of 3 November 2008 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 ...
Accountants and Audit
The statutory audit — ensuring accurate company financial statements SUMMARY OF: Directive 2006/43/EC on statutory audits of annual accounts and consolidated accounts WHAT IS THE AIM OF THE DIRECTIVE? It merges two ...
Securities Transaction
Short selling of securities Regulation (EU) No 236/2012 on short selling and certain aspects of credit default swaps It seeks to regulate certain aspects of short selling* and credit default swaps (CDS)* in the ...
Securitisation
Simpler, more transparent and more standardised securitisation Regulation (EU) 2017/2402 — general framework for securitisation and creating a specific framework for simple, transparent and standardised ...
Securities Market Infrastructure
Credit rating agencies Regulation (EC) No 1060/2009 on credit rating agencies It seeks to regulate the activity of credit rating agencies to protect investors and European financial markets against the risk of ...
Insurance Business
Insurance and reinsurance Directive 2009/138/EC on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) Known as Solvency II, it requires insurance companies to hold enough financial ...
Investment Services
Better regulated and transparent financial markets SUMMARY OF: Directive 2014/65/EU on markets in financial instruments It aims at making financial markets in the European Union (EU) more robust and transparent. It ...
Prospectus and Listing
Prospectus to be published when securities are issued and offered to the public Regulation (EU) 2017/1129 — securities prospectus It aims to help companies, especially SMEs, access different forms of finance in the ...
Market Abuse
Preventing market abuse in financial markets Regulation (EU) No 596/2014 on market abuse The market abuse regulation (MAR) seeks to ensure that European Union (EU) regulation keeps pace with market developments to ...
Payments
Single Euro Payments Area Regulation Regulation (EU) No 260/2012 — technical and business requirements for credit transfers and direct debits in euro It sets out the rules and technical requirements for credit ...
Consumer Credit
Consumer credit agreements Directive 2008/48/EC on consumer credit agreements It harmonises EU rules regarding credit granted to consumers who borrow to finance purchases of goods and services (holidays, goods, new ...
Bank Accounts Switching and Guarantee
Opening/switching bank accounts and information on fees Directive 2014/92/EU — comparable and transparent fees and rules for all payment accounts and payment account switching It aims to tackle 3 main issues: access ...
UCITS
Strengthening global competitiveness of EU investment funds Directive 2009/65/EC — rules relating to undertakings for collective investment in transferable securities (UCITS) It lays down uniform rules on investment ...
Post Trade Fin Services EU Guidance 2021
EUROPEAN COMMISSION DIRECTORATE-GENERAL FOR FINANCIAL STABILITY, FINANCIAL SERVICES AND CAPITAL MARKETS UNION Brussels, 14 July 2020 REV1 – replaces the notice dated 8 February 2018 NOTICE TO STAKEHOLDERS ...
Consumer Finance and Payments
Opening/switching bank accounts and information on fees Directive 2014/92/EU — comparable and transparent fees and rules for all payment accounts and payment account switching It aims to tackle 3 main issues: access ...
European Pension Body
European Insurance and Occupational Pensions Authority (EIOPA) The 2008 financial crisis brought to light shortcomings in European Union (EU) financial supervision. Based in Frankfurt, the European Insurance and ...
Asset Management EU Guidance 2021
EUROPEAN COMMISSION DIRECTORATE-GENERAL FOR FINANCIAL STABILITY, FINANCIAL SERVICES AND CAPITAL MARKETS UNION Brussels, 7 July 2020 REV2 – replaces the notice (REV1) dated 8 February 2018 NOTICE TO STAKEHOLDERS ...
Travel Insurance 2021 UK Guidance
Guidance Foreign travel insurance Wherever you’re travelling, it’s important to take out appropriate travel insurance before you go. Published 22 March 2013 Last updated 20 December 2020 — see all updates From: ...
Money Laundering 2021 UK Guidance
EXPLANATORY MEMORANDUM TO THE MONEY LAUNDERING AND TERRORIST FINANCING (AMENDMENT) (EU EXIT) REGULATIONS 2020 2020 No. [XXXX] 1. Introduction 1.1 This explanatory memorandum has been prepared by HM Treasury and is ...