In brief:
FSA sends “Dear CEO” Letter for CRD firms FSA releases handbook development newsletter
FSA sends “Dear CEO” Letter for CRD firms
The Financial Services Authority (FSA) in the UK has sent out its “Dear CEO” letter to firms required to implement the Capital Requirements Directive. The letter lists the institution’s Banks, Building Societies and Investment Firms Sourcebook (Bipru) category, as well as the base capital requirement for that firm.
Firms are required to ensure they fall under the correct category and to complete a form on whether it will use an embedded waiver, if it will use the transitional rules and if it will opt for the standardised or advanced measurement approach (AMA). Firms are requested to complete the form by September 22 this year. Click here to see the letter in full.
FSA releases handbook development newsletter
Handbook developments and upcoming consultations have been released in the FSA’s August newsletter today. Upcoming dates related to the CRD include a feedback statement to consultation on ‘Strengthening Capital Standards 2’, due to be published this October, and the corresponding text for the handbook, which is expected in the final quarter of 2006, and a policy statement on ‘Integrated Regulatory Reporting: credit institutions and investment firms’, also due to be published this October.
Changes to the handbook regarding the Markets in Financial Instruments Directive (Mifid) are expected on best execution at the end of this year, followed by the Mifid implementation policy changes in the first quarter of 2007.
Click here to see the newsletter in full.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net
More on Regulation
Esma supervision proposals ensnare Bloomberg and Tradeweb
Derivatives and bonds venues would become subject to centralised supervision
Industry frowns on FCA’s single-sided trade reporting efforts
Buy side warns UK attempt to ease Mifir burden may miss target; dealers aren’t happy either
One vision, two paths: UK reporting revamp diverges from EU
FCA and Esma could learn from each other on how to cut industry compliance costs
Market doesn’t share FSB concerns over basis trade
Industry warns tougher haircut regulation could restrict market capacity as debt issuance rises
FCMs warn of regulatory gaps in crypto clearing
CFTC request for comment uncovers concerns over customer protection and unchecked advertising
UK clearing houses face tougher capital regime than EU peers
Ice resists BoE plan to move second skin in the game higher up capital stack, but members approve
ECB seeks capital clarity on Spire repacks
Dealers split between counterparty credit risk and market risk frameworks for repack RWAs
FSB chief defends global non-bank regulation drive
Schindler slams ‘misconception’ that regulators intend to impose standardised bank-like rules
