Banking & Finance—key dates and future developments: 2016 [Archived]
Banking & Finance—key dates and future developments: 2016 [Archived]

The following Banking & Finance practice note provides comprehensive and up to date legal information covering:

  • Banking & Finance—key dates and future developments: 2016 [Archived]

Please note we will not be covering all consultations, for information not included in this Practice Note refer to our Regulatory timelines and trackers on the key resources section of the homepage.

January 2016

DateSubject matterKey Development
1 January Solvency II The Solvency II regime applies—see Europa website
1 January FSCS limitsThe Financial Services Compensation Scheme (FSCS), granted to savers and guaranteeing deposits in a savings account, will be reduced from £85,000 to £75,000—see LNB News 06/07/2015 9
1 January The Taxation of Regulatory Capital Securities (Amendment) Regulations 2015The Taxation of Regulatory Capital Securities (Amendment) Regulations 2015 (Amending Regulations) ensure that Solvency II compliant instruments issued by insurers and other financial institutions in the form of debt are subject to income tax under the loan relationships rules.

The Amending Regulations also take account of changes to the treatment of corporate debt and derivative contracts introduced by Finance (No 2) Act 2015. These changes will take effect from 1 January 2016, subject to transitional provisions—see LNB News 16/07/2015 161
1 January Prospectus DirectiveArticle 5(4) of the EU Prospectus Directive will no longer require issuers to send final terms to the competent authority of host member states. The changes mean the home competent authority must now send final terms that have been filed with it to the competent authorities of host member

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