BCBS Standard on Prudential Treatment of Cryptoasset Exposures: What Does This Mean for Banks?

On 16 December 2022, the Basel Committee on Banking Supervision (the “BCBS“) published its much-anticipated standard on the prudential treatment of cryptoasset exposures (the “Standard“), which will be incorporated into the consolidated Basel Framework in due course. Publication of the Standard follows two related consultations published by the BCBS in June 2021 and June 2022.

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A Guide to FCA Policy Statements and Final Consultation on IFPR and A Guide to the MIFIDPRU Remuneration Code

With just four months to go until the start of the Investment Firms Prudential Regime (IFPR) on 1 January 2022, the FCA has recently published policy statements to its first two consultations on the IFPR, PS21/6 and PS21/9. Published in June and July 2021, respectively, the policy statements summarise the feedback on the earlier consultations, CP20/24 and CP21/7, and set out the FCA’s response and near-final rules. The FCA also published its (third and) final consultation paper on the IFPR, CP21/26, on 6 August 2021. The final policy statement and rules will be published in Q4 2021. Continue reading