In brief:
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.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
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. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
More on Regulation
SEC expected to protect CRT in conflicts of interest rule
Decision could come as early as today; high hopes for credit risk transfer exemption
FRTB managers face hard facts about risk factors
There are ways to reduce the capital charges caused by NMRFs, but they come at a price
SEC official defends delayed dealer registration rule
Regulator says market should be treated like equities, but PTFs warn it will harm market liquidity
New UK clearing rules: same as the old rules?
Clearing experts doubt UK regulation can diverge significantly from Emir and global standards
SEC to delay US Treasury clearing mandate, dealer rule
A final vote on proposed US Treasury market reforms is now expected in early 2024
BoE warns against use of stablecoins in banking
Tokenised payment systems pose compliance and systemic risks, regulator says
Industry unsure of SEC’s new short-selling transparency rule
Requirement aims to provide sufficient transparency while protecting traders from a GameStop-style backlash
EC to adopt NII outlier test within ‘weeks’
New IRRBB rules could come into force in early 2024; industry hoping EBA draft is softened
