The FCA has published its monthly e-mail to all regulated firms with an update on the latest news that affect the sector. The paper can be found here.
This month’s hot topics include:
Packaged Retail and Insurance-based Investment Products (PRIIPs) – The Packaged Retail and Insurance-based Investment Products (PRIIPs) Regulation is a major piece of European legislation that applies directly to a range of different business models. The aim of the Regulation is to encourage efficiency in the EU by helping investors to better understand and compare the key features, risks, rewards and costs of different PRIIPs.
Online Dispute Resolution (ODR) platform – From 15 February 2016, the European Commission will make an online dispute resolution (ODR) platform available on their website, which will allow consumers who have a complaint about a product or service bought online to submit the complaint using the platform.
The topics by sector are:
Banks and building societies
New Bank start-up unit
CP: Mortgage Credit Directive: Minor changes to our rules and guidance
Mortgage Credit Directive (MCD)
Statement: EBA guidelines on remuneration policies
Senior Managers Regime: Grandfathering notification
CP: Technical changes to the Senior Managers Regime
The Single Euro Payments Area (SEPA) compliance
Investment managers and stockbrokers (retail and wholesale)
EU Benchmarks regulation
MiFID II: Implementation roundtable
Recovery and Resolution Directive (RRD)
CP: Loan-based crowdfunding platforms and segregation of client money
Financial advisers
New homepage for advisers
CP: Loan-based crowdfunding platforms and segregation of client money
Wealth managers and private bankers
MiFID II: Implementation roundtable
Recovery and Resolution Directive (RRD)
EU Benchmarks regulation
CP: Loan-based crowdfunding platforms and segregation of client money
Mortgage brokers
Mortgage Credit Directive (MCD)
CP: Mortgage Credit Directive: Minor changes to our rules and guidance
General insurance and insurers
Retirement income market data
Consumer credit
New consumer credit authorisation webpages
Credit unions
Senior Mangers Regime: Grandfathering notification
Credit unions’ services and products