Weekly highlights—23 August 2018

Weekly highlights—23 August 2018

Welcome to the weekly Financial Services highlights from the Financial Services team for the week ending 23 August 2018.

Brexit

No deal Brexit: Technical notice on banking, insurance and other financial services

The UK government published a technical notice for the banking, insurance and other financial services sectors setting out guidance in the event the UK leaves the EU without an agreement (a 'no deal' scenario).  This notice is part of a series of notices which aim to offer guidance for businesses and citizens to understand what they need to do in a 'no deal' scenario so that they can make informed plans and preparations.

Department for Exiting the EU issues framework for financial services for the UK-EU partnership

The Department for exiting the European Union published a presentation setting out the government's vision for the future UK-EU partnership in relation to financial services.  The presentation is part of a series produced by the UK negotiating team for discussion with the EU, in order to inform the development of the future relationship between the EU and the UK.

HM Treasury publishes draft SI on capital requirements

HM Treasury published a draft statutory instrument (SI) which will make amendments to retained EU law and existing UK law, relating to capital requirements.  HM Treasury has also published an explanatory note.  HM Treasury intends to lay the draft SI before Parliament during autumn 2018. The SI will make amendments to aspects of the Capital Requirements Regulation (CRR). Welcome to the weekly Financial Services highlights from the Financial Services team for the week ending 23 August 2018.

Regulated activities

FCA consults on fees for regulation of claims management companies

The FCA published consultation paper 18/23 (CP18/23)—Claims management companies: recovering the costs of FCA regulation and the Financial Ombudsman Service. With responsibility for claims management regulation passing

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