FS weekly highlights—21 February 2019

FS weekly highlights—21 February 2019

In this issue


Brexit news
Brexit legislation
Regulatory architecture
UK regulator updates
European regulator updates
Authorisation, approval and supervision
Prudential requirements
Risk management and controls
Financial crime
Enforcement and redress
Markets and trading
Regulation of capital markets
Investment funds and asset management
Banks and mutuals
Retail banking
Consumer credit, mortgage and home finance
Insurance and pensions
Payment services and systems
FinTech and virtual currencies
Sustainable finance
Dates for your diary


Brexit news


ESMA to recognise three UK CCPs in the event of a no-deal Brexit

The European Securities and Markets Authority (ESMA) announced that in the event of a no-deal Brexit, three central counterparties (CCPs) established in the UK—London Clearing House (LCH) Limited, ICE Clear Europe Limited and LME Clear Limited, will be recognised to provide their services in the EU. ESMA adopted these recognition decisions in order to limit the risk of disruption in central clearing and to avoid any negative impact on the financial stability of the EU. The recognition decisions would take effect on the date following the exit date, under a no-deal Brexit scenario. ESMA previously communicated, in its statements of 23 November and 19 December 2018 and 4 February 2019, that its Board of Supervisors supports continued access to UK CCPs.

EIOPA issues no-deal Brexit recommendations for insurance sector


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About the author:
Prior to joining LexisNexis in 2018, Raphael carried out work placements at Willkie, Farr & Gallagher (sat in Debt Finance) and Macfarlanes (sat in Banking and Finance), through which he was able to gain knowledge about a wide variety of financial products and services. Raphael recently graduated in Law from King’s College London where he took a particular interest in modules such as Finance, Credit & Security and Transnational Company Law. Raphael has also worked as a Paralegal at Axiom Stone Solicitors in Mayfair, where he was involved in a wide range of contentious matters.