Weekly highlights—2 February 2017

Weekly highlights—2 February 2017

Welcome to the weekly Financial Services highlights from the Lexis®PSL Financial Services team for the week ending 2 February 2017.

Brexit

EBA delays decision over London HQ move pending Brexit negotiations

On 26 January 2017, the European Banking Authority (EBA) published its Management Board—Final Minutes, (dated 10 November 2016). The EBA stated that it will delay a decision to relocate its headquarters from London.

BBA publishes further reports on Brexit and the financial services sector

On 31 January 2017, the British Bankers’ Association (BBA) continued its series of reports on Brexit and the financial services sector with two reports: ‘Data protection and Transfer’ (no 5) and ‘Time to adapt—the need for transitional arrangements?’ (no 6). Among other things, the BBA highlights the challenges the sector faces as regards data protection and transitional arrangements following Brexit.

LMA calls for transitional arrangements to protect UK and EU lenders

On 1 February 2017, the Loan Markets Association (LMA) issued a response to the HM Treasury Committee’s call for evidence on the UK’s exit from the European Union (EU) and the transitional arrangements, in preparation for the start of official negotiations upon the triggering of Article 50. The call for evidence is particularly important as the UK government forms its strategy on exiting the EU and sets its priorities.

Financial Conduct Authority updates

FCA Regulation Round-Up—January 2017

On 26 January 2017, the Financial Conduct Authority (FCA) issued its Regulation Round-up for January 2017. Hot topics in this issue look at the emerging themes for 2017, the Asset Management Market Study and firms' resilience to third party trading platform outages.

MoU between HMRC and the FCA on exchange of information

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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.