Weekly highlights—10 May 2018

Weekly highlights—10 May 2018

Welcome to the weekly Financial Services highlights from the Financial Services team for the week ending 10 May 2018.

Brexit

BEUC publishes consumer checklist relating to Brexit

The Bureau Européen des Unions de Consommateurs—the European Consumer Association (ECA)—published a consumer checklist on the EU-UK relationship after Brexit, which aims to secure positive outcomes for consumers. The report says that regardless of what sort of deal and transition period emerges, the starting point is an integrated market where EU and UK consumers enjoy a comprehensive and harmonised legal, supervisory and enforcement framework. It warns that attention will need to be paid to the potential risks to consumers of a more disintegrated approach.

HM Treasury on financial services and Brexit risk management

HM Treasury published a 27 April 2018 letter to the Treasury Select Committee concerning the financial services risk management technical working group in relation to Brexit. The group will be convened by the European Central Bank (ECB) and the Bank of England (BoE).

Financial Conduct Authority updates

FCA policy development update for May 2018

The Financial Conduct Authority (FCA) published the latest version of its policy development update, which provides information on its recent and upcoming publications. Future publications include a policy statement on the EU Money Market Funds Regulation (CP18/4), which is expected in Q2 2018.

Regulatory architecture

EU scrutiny committee considers funds distribution, NPLs and long-term regulatory plans

At its meeting on 2 May 2018, the EU scrutiny committee considered proposals on the cross-border distribution of collective investment funds and non-performing loans (both retained under scrutiny) and communications from the European Commission on long-term regulatory plans (cleared from scrutiny).

ECB

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About the author:
Prior to joining LexisNexis in 2016 as a paralegal, Lauren was an adjudicator at the Financial Ombudsman Service. There she resolved consumers’ complaints, and gained knowledge about a wide variety of financial products. Before this she studied Law at Nottingham Trent University.