Introduction - On Wednesday, 1 February 2023, HM Treasury announced its intention to regulate a variety of crypto-asset activities under the UK financial services regulatory regime. The announcement arrived in the form of a...more
The Financial Conduct Authority’s (FCA) expectations for challenger banks provide lessons for all in the financial service industry. Challenger banks, offering updated consumer experiences and disrupting standard practice...more
In June of this year, the Financial Conduct Authority (FCA) took enforcement action against JLT Specialty Limited (JLT) for the second time in the space of a decade. The fine of approximately £7.8 million is in response to...more
Following a consultation in 2019 (CP19/32), the Financial Conduct Authority (FCA) has now published its policy statement (PS21/3) and final rules on operational resilience. The FCA has stated that the new rules on operational...more
EXECUTIVE SUMMARY - On 26 April 2021, draft Payment and Electronic Money Institution Insolvency Regulations (Regulations) were brought before the UK Parliament for approval. They will introduce a new special administration...more
On 28 January 2021, the Financial Conduct Authority (FCA) published a consultation paper (CP21/3)1 proposing various changes to the UK regulation of payment services and electronic money. Most of the proposed changes relate...more
The Cross-Border Payments Regulation (EC) No 924/2009 (CBPR) is the EU legislation that sets out the principle of equality of charges for intra-EU cross-border euro payments and corresponding national payments within an EU...more