On 22 April 2024, the Financial Conduct Authority (FCA), the Prudential Regulation Authority (PRA) and the Bank of England published their strategic approaches to regulating AI in response to the UK government’s July 2022 AI...more
5/3/2024
/ Artificial Intelligence ,
Corporate Counsel ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Popular ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Regulatory Requirements ,
Technology ,
UK
In July 2023, the UK government published its findings from the Investment Research Review (Review) as part of the UK government’s Edinburgh Reforms. The Review made a number of recommendations to encourage research...more
In July 2021, HM Treasury published the Wholesale Markets Review consultation (WMR), which included proposals to reform the U.K.’s secondary markets framework. There was broad support for reforms to (a) modify the ancillary...more
3/25/2024
/ Commodities ,
Derivatives ,
Energy Projects ,
Energy Sector ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
HM Treasury ,
MiFID II ,
Over The Counter Derivatives (OTC) ,
Regulatory Reform ,
UK
In this alert we consider various reforms and proposals to the banking sector announced by UK regulators.
On 11 January 2024, HM Treasury published a consultation paper on enhancing the UK’s Special Resolution Regime for...more
UK regulators have recently announced a number of reforms for banks and other financial institutions.
- On 23 November 2023, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) (together,...more
1/8/2024
/ Banking Sector ,
Capital Requirements Regulation (CRR) ,
Cryptocurrency ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Hedge Funds ,
Holding Companies ,
Investment Firms ,
Investment Management ,
Limited Partnerships ,
New Guidance ,
Private Equity ,
Private Equity Funds ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Regulatory Reform ,
Regulatory Requirements ,
Remuneration ,
Sovereign Wealth Funds ,
UK
On 6 November 2023, the Bank of England (the UK’s central bank) issued a discussion paper on the regulation on stablecoins, alongside another paper by the UK Financial Conduct Authority (FCA) (DP23/4) and a “Dear CEO” letter...more
On 30 October 2023, the HM Treasury (HMT) published its much-anticipated response (Consultation Response) to its March 2023 consultation paper (Consultation) on the UK’s future financial services regime for cryptoassets....more
11/10/2023
/ Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
HM Treasury ,
Regulatory Agenda ,
Regulatory Requirements ,
UK
The landscape of cryptoasset regulation in the UK entered a new phase in October 2023 with the extension to cryptoassets of marketing restrictions for financial products and services. In particular, crypto firms based outside...more
In July 2023, the Investment Research Review (the Review) commissioned by the UK government published its findings into investment research in UK capital markets. The Review made the following seven recommendations, seeking...more
8/1/2023
/ Capital Markets ,
Equity Markets ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
Initial Public Offering (IPO) ,
Investors ,
Listing Rules ,
MiFID II ,
Retail Market ,
UK
On 7 June 2023, the UK Parliament passed the Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) Order 2023, which brings cryptoassets within the scope of rules that regulate the marketing of financial...more
In February 2023, the UK Treasury (HMT) published its consultation and call for evidence on the future financial services regulatory regime for cryptoassets (Consultation Paper). This is part of Phase 2 of HMT’s effort to...more
3/30/2023
/ Cryptoassets ,
Cryptocurrency ,
EU ,
Financial Conduct Authority (FCA) ,
FSMA ,
Market Abuse ,
Non-Fungible Tokens (NFTs) ,
Proposed Regulation ,
Securities ,
Stablecoins ,
UK
The UK government has issued draft legislation to regulate buy-now-pay-later (BNPL) providers. It has also settled its position on a number of other key aspects of its policy on both BNPL providers and providers of short-term...more
The UK’s Financial Conduct Authority (FCA) published final guidance (FG22/5) and a policy statement (PS22/9) for the new consumer duty (Duty) on 27 July 2022. The main rules will come into force on 31 July 2023 for existing...more
The U.K. Financial Conduct Authority (FCA) recently introduced important changes to the regime governing Appointed Representatives (ARs), which carry out regulated activity for which an authorised firm is responsible. The new...more
The UK financial services regulator Financial Conduct Authority’s latest three-year Strategy and annual Business Plan could have a significant impact on private capital sponsors and advisers and other asset managers....more
On 21 October 2021, the UK Treasury (Treasury) published a consultation paper setting out policy options for the regulation of “buy now, pay later” (BNPL) credit agreements. The consultation follows the publication of...more
On 2 February 2021, the Financial Conduct Authority (the FCA) published a report on the U.K. unsecured credit market (the Woolard Report), which makes several recommendations designed to generate alternatives to high-cost...more