This week has seen the FCA publish an alert highlighting potential risks for firms when accepting business from introducers, lead generators and other authorised firms.


FCA Policy Development Update – No. 36

The FCA has published its policy development update No 36 which sets out FCA publications issued since the last update and details of any forthcoming FCA publications.

FCA, August 2016

Payment Services Stakeholder Liaison Group: minutes published

The FCA has published the minutes of the first meeting of the reconvened Payment Services Stakeholder Liaison Group (SLG). The SLG last met in July 2013 and has been reconvened by the FCA to develop its approach to the UK implementation of the revised Payment Services Directive (PSD2) by 13 January 2018. Items discussed included:

  • A six week consultation by HM Treasury on draft regulations implementing PSD2 (expected to begin in August 2016).
  • FCA consultation on revised guidance for payment services planned for H1 2017.
  • The blocking of funds on a card-based payment account when the transaction amount is not known in advance (Article 75 of PSD2).
  • The new definition of acquiring (Article 4(44) of PSD2).
  • Statistical data on fraud to be collected under Article 96(7) of PSD2.
  • The meaning of "accessible online" (Articles 65-67 of PSD2).

The SLG will next meet on 13 September 2016.

FCA, 4 August 2016

Risks highlighted by the FCA when accepting business from introducers or lead generators

The FCA has highlighted some of the potential risks that arise from authorised firms accepting business from unauthorised introducers, lead generators and other authorised firms. This alert sets out the FCA's areas of concern as well as warning signs, regulatory requirements and recommended next steps that aim to help investment advisers and authorised firms to protect both customers and their own businesses.

FCA, 2 August 2016


Consumer finance volumes up in the first half of 2016

The Finance & Leasing Association (FLA) have published new figures in relation to:

FLA, 5 August 2016


EBA reviews CRD IV single rulebook Q&As

The European Banking Authority (EBA) has reviewed possible errors and inconsistencies in relation to the Capital Requirements Regulation (CRR) and the Capital Requirements Directive (CRD IV) observed via the EBA's Single Rulebook Q&A tool and has written to the European Commission with its findings.

EBA, 5 August 2016

EBA publishes G-SIIs indicators

The EBA has published indicators of global systemic importance from 36 global systemically important institutions (G-SIIs) in the EU, as provided for in the Implementing Technical Standards (ITS). In addition to the G-SIIs, other large institutions with an overall exposure measure of more than €200 billion which are potentially systemically relevant will be subject to the same disclosure requirement.

EBA, 5 August 2016

Technical standards on benchmarking of internal approaches under CRD IV

The EBA has published an amended version to its Implementing Technical Standards (ITS) on benchmarking of internal approaches under Article 78(8) of the Capital Requirements Directive (CRD IV). The amendments have been made for running the 2017 benchmarking exercise and will assist competent authorities with their 2017 assessment of internal approaches for credit and market risk. The EBA plans to update the ITS annually going forward.

EBA, 04 August 2016

EBA adds DGSD to its single rulebook Q&A tool

The EBA has introduced the Deposit Guarantee Schemes Directive (DGSD) to its single rulebook Q&A tool.

EBA, 3 August 2016

Progress report on proposed EDIS Regulation and communication on completion of the Banking Union

The Council of the EU has published a progress report on both the proposal for a Regulation establishing the European Deposit Insurance Scheme (EDIS) and the European Commission's communication on completion of the Banking Union.

Council of EU, 2 August 2016

Key Contacts

Rosanna Bryant

Rosanna Bryant

Partner, Financial Regulation

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