Banking & finance

Reports, news and data relating to the Banking & Finance sector.

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Status:

A referendum on Britain's membership of the European Union was held on 23 June 2016. On 24 June 2016, it was announced that the UK voted to leave the EU. The earlier "UK-EU settlement" agreed in February 2016 is no longer valid following a vote to leave. The Government has indicated that notice will be given to the European Commission not later than March 2017 to 'trigger' Article 50 and begin the process.

Latest Reports

  • City, London

    The proposals in the UK Prime Minister’s speech on 17th January and the White Paper on 2nd February will require a new construct for cross-border regulatory coordination between the EU and the UK, which will operate in a complex legal and regulatory environment (outside the EU/EEA single market). CMS and ...

  • Following the findings of the credit card market study (MS14/6)[1], the FCA has launched a consultation paper (CP17/10) on persistent debt and earlier intervention remedies. In its earlier credit card market study the FCA found that competition was working fairly well for most credit card customers. They had, however, significant ...

  • EU flag

    CMS held a pan-European seminar on 17 March on "Cross-border banking and investment structures post-MiFID II and Brexit".

    The seminar covered: 
    Overview (Ash Saluja, CMS UK)
    Local EU jurisdictions:
    Jérôme Sutour (CMS France)
    Andreas Feneis (CMS Germany)
    Darragh Murphy (McCann Fitzgerald, Ireland)
    Paolo Bonolis (CMS Italy)
    Perspective from a third country (Kaspar Landolt, CMS Switzerland)
    Looking ahead (Paul Edmondson, CMS UK)

    The seminar slides are available to view/download via the link in the title.

  • As a reaction to the so-called "Panama Papers" the German legislator proposed, on 30 December 2016, a draft bill to combat tax avoidance (so-called Steuerumgehungsbekämpfungsgesetz – StUmgBG). The aim of the draft bill is to enhance the German tax authorities' means to determine and reveal EU-foreign domicile company structures which ...

  • Fibre optic cables

    On 9 March 2017, the Financial Conduct Authority (FCA) announced that it had agreed a co-operation framework with its Japanese equivalent, the Financial Services Agency of Japan (JFSA). The co-operation framework aims to promote innovation in both Japan and the United Kingdom and speed up the regulatory approval process for ...

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Agency Database

Future Dates

* Estimated date

  • 28 April 2017

    Deadline for responses to EIOPA's consultation paper on guidelines on complex insurance-based
    investment products.

  • *End of Q1 2017

    European Commission expected to publish the FICOD evaluation findings by this period. 

  • 8 May 2017

    Deadline for responses to FCA DP17/1 discussion paper on illiquid assets and open-ended investment funds.