FS regulatory, accounting and audit bulletin - 4th edition 2013

Being better informed

The start of April brought the demise of the Financial Services Authority, to be replaced by the Prudential Regulation Authority and the Financial Conduct Authority. Other interesting developments in the last month include:

  • The European Insurance and Occupational Pensions Authority published four consultations that set out interim measures ahead of the implementation of Solvency II
  • The European Securities and Markets Authority published its second annual report on credit rating agencies – with a message that further improvements are needed
  • Further movement and clarity on the Alternative Investment Fund Managers Directive – both from a European and UK perspective
  • The first compliance requirements for the European Markets Infrastructure Regulation commenced on 15 March
  • The European Commission published some frequently asked questions (FAQs) on the new Capital Requirements Directive IV. In particular the FAQs set out a clear guide for implementation deadlines.

This month’s feature article for more information on the UK’s new macroprudential regulator, the Financial Policy Committee.

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