Weekly highlights—8 June 2017

Weekly highlights—8 June 2017

Welcome to the weekly Financial Services highlights from the Lexis®PSL Financial Services team for the week ending 8 June 2017.

Brexit

Forced relocation of euro-clearing systems would have huge costs and risks, says FIA

On 6 June 2017, the Futures Industry Association (FIA) responded to a suggestion from the European Commission that euro-clearing systems may be forced to relocate to the EU, saying it would be the most disruptive and expensive approach to overseeing third-country central counterparties. It says such a move would risk fragmenting the markets, raising costs for end users, and weakening the stability of the financial system.

Prudential Regulation Authority updates

PRA Regulatory Digest May 2017

On 1 June 2017, the Prudential Regulation Authority (PRA) published its regulatory digest for May 2017, which highlights key regulatory news and publications delivered for the month.

Payment Systems Regulator updates

PSR Board minutes available

On 2 June 2017, the Payment Systems Regulator (PSR) released the minutes from its meeting of 22 March 2017.

Regulatory architecture

Commission VP calls for economic, fiscal and financial convergence

On 31 May 2017, European Commission vice-president Valdis Dombrovskis spoke on deepening EU economic and monetary union (EMU), saying the EU is facing multiple challenges but will do so head-on. He said the financial crisis underlined the weaknesses in the way the euro was set up, but that the EU’s response to that crisis has made the EMU stronger. There is still a lack of convergence, and doubts remain regarding the full stability and safety of the system, but now is a good time to complete EMU.

ECB decisions on supervisory tasks and supervised entities published in the

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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.