Weekly highlights—17 May 2018

Weekly highlights—17 May 2018

Welcome to the weekly Financial Services highlights from the Financial Services team for the week ending 17 May 2018.

Financial Conduct Authority updates

FCA CEO discusses the regulator's business plan and priorities

During a speech given at the BIBA 2018 annual conference & exhibition in Manchester, the Financial Conduct Authority’s (FCA) CEO Andrew Bailey discussed elements of the FCA business plan as relevant to the general insurance sector. Mr Bailey also discussed the impact that Brexit and the EU General Data Protection Regulation (GDPR) will have on the sector.

Regulatory architecture

BoE director on climate change: turning momentum into action

The executive director of international banks supervision at the Bank of England (BoE), Sarah Breeden, gave a speech on the shared response to climate change: turning momentum into action. The speech is based on remarks made on 19 March 2018 following the second formal meeting of the Green Finance Initiative and Green Finance Committee in London. Ms Breeden stressed that climate change is a core financial risk for companies. She explained that it is a shared challenge for the private sector and financial authorities and that they need to take action together in order to respond to it.

Regulated activities

Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2018

SI 2018/Draft: Amendments are made to legislation to expand the definition of alternative finance investment bonds (AFIBs) to allow these to be admissible for trading on additional types of financial trading venues, known as multilateral trading facilities (MTFs) and organised trading facilities (OTFs). These are markets for the issuing and trading of debt securities which are regulated by the platform’s operator, the London Stock Exchange for example.

Prudential requirements

Subscription Form

Already a subscriber? Login
RELX (UK) Limited, trading as LexisNexis, and our LexisNexis Legal & Professional group companies will contact you to confirm your email address. You can manage your communication preferences via our Preference Centre. You can learn more about how we handle your personal data and your rights by reviewing our  Privacy Policy.

Related Articles:
Latest Articles:

Access this article and thousands of others like it free by subscribing to our blog.

Read full article

Already a subscriber? Login

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.