The Regulatory Initiatives Forum has announced that the sixth edition of the Grid, planned for publication in November 2022, has been delayed to the New Year, in order to take into account recently announced Government measures to build a smarter financial services framework. The Forum members have set out an update on the delay on the FCA website.
Given this delay, in order to provide clarity to Bank of England (Bank) and PRA stakeholders and support their planning until the sixth edition is published, the Bank and PRA have decided to publish an interim list which sets out our upcoming publications, as well as recently opened and ongoing consultations that were not included in the May 2022 Grid.
The Bank and PRA list is as follows:
Upcoming publications
- Policy Statement – Insurance Special Purpose Vehicles: Further updates to authorisation and supervision
- Policy Statement – Remuneration: Unvested pay, Material Risk Takers and Public Appointments
- Policy Statement – Amendments to the Depositor Protection rules including clarifications on the protection of e-money customers should a safeguarding institution fail and the treatment of joint account holders for temporary high balance protection
- Policy Statement – Margin requirements for non-centrally cleared derivatives: Amendments to BTS 2016/2251 (jointly with FCA)
- Supervisory Statements - Outsourcing & third-party risk management policy for FMIs
- Consultation Paper – Insurance Insolvency Enhancements
- Consultation Paper – Central Bank Digital Currency
- Consultation Paper – Remuneration: Small Firm Proportionality (jointly with FCA)
- Consultation Paper – Non-performing exposures capital deduction
Recently opened and ongoing consultations (not included in the May 2022 RIF Grid)
- Discussion Paper (response period closed) – Operational resilience: Critical third parties to the UK financial sector
- Solvency II Regulatory Reporting Phase II
- Risks from Contingent Leverage
Background
The Forum is comprised of the Bank (including the PRA), FCA, Payment Systems Regulator, Competition and Markets Authority, Financial Reporting Council, The Pensions Regulator, and Information Commissioner’s Office, with HM Treasury attending as an observer member.
The Grid itself is usually published on a biannual basis and previous editions can be found on the FCA’s website.