1 00118601 Emerging themes 2019 A4 AW v31 combined - Page 80



REGULATORY CALENDAR
REGULATORY CALENDAR
EXPECTED DURING
QUARTER ONE
•FCA to publish their policy statement following
Consultation Paper 18/29 on the temporary
permissions regime for inbound firms and funds
•FCA to publish a feedback statement on its call for
input on initial experiences with the requirements of
the Packaged Retail and Insurance-based Investment
Products (PRIIPs) Regulation
•FCA to complete its thematic review of the debt
management sector
•European Commission expects the European
Parliament and Council of the EU to adopt the revised
Omnibus Regulation on reforms to the European
System of Financial Supervision, which includes
measures to strengthen AML and prudential
supervision
•Deadline for the European Commission to present a
report with best practises for regulatory sandboxes
•Deadline for the ESAs to map existing supervisory
practises across financial sectors around ICT security
and governance requirements, and consider whether
to issue guidelines on supervisory convergence and
enforcement of ICT risk management and mitigation
requirements and, if necessary, provide European
Commission with technical advice on the need for
legislative improvements
•FCA to publish final rules and policy statement to
Consultation Paper 18/26 on extending the SMCR to
claims management companies (CMCs)
•FCA expected to publish its third set of general
insurance value measures data, and a consultation
paper on rules requiring firms to regularly report
general insurance measures data to it
•FCA to consult on guidance setting out its
expectations of firms in identifying and addressing
issues of vulnerability, following the FCA’s July 2018
Approach to Consumers paper and Discussion Paper
18/5 on a duty of care for financial services firms
80/
JAN
2019
1 January – Date on which the ring-fencing regime
for UK banks introduced by the Financial Services
(Banking Reform) Act 2013 will take effect
1 January – Application date of Commission Delegated
Regulation (EU) 2018/1221, amending the Solvency II
Delegated Regulation ((EU) 2015/35) regarding the
calculation of regulatory capital requirements for
securitisations and simple, transparent and
standardised securitisations held by insurance and
reinsurance undertakings
1 January – Regime under Securitisation Regulation ((EU)
2017/2402) comes into force, including PRA’s rules and
supervisory statement
1 January – Application date for the Securitisation
Regulation ((EU) 2017/2402) and CRR Amendment
Regulation ((EU) 2017/2401)
1 January – Deadline for the European Commission
to put in place the main building blocks for the Capital
Markets Union
10 January – AML and CTF supervisors and the ECB,
with support from the ESAs, to conclude an agreement
on the “practical modalities” for exchanging information
under the Fifth Anti-Money Laundering Directive ((EU)
2018/843) (MLD5)
21 January – Date for managers of existing Money
Market Funds to start to comply with the Regulation on
Money Market Funds ((EU) 2017/1131)

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