On 18 January 2022, HM Treasury published the results of its July 2020 consultation on cryptoasset promotions, and confirmed that the UK government will introduce measures that will effectively bring a wider range of...more
On 3 November 2021, the UK Financial Conduct Authority (FCA) published a discussion paper on the UK Sustainability Disclosure Requirements (SDR) together with the long awaited investment labels (DP21/4). These reflect the...more
HM Treasury has published its latest policy paper setting out a further roadmap on sustainable investing: Greening Finance: A Roadmap to Sustainable Investing. Urging the private sector to treat this roadmap as a further...more
This week, the Financial Reporting Council (FRC) published the first list of successful signatories of the revamped 2020 UK Stewardship Code (the Code). While we note that the number of successful signatories have fallen this...more
Benchmarks (Provision of Information and Documents) (Amendment) Regulations 2021 published The Benchmarks (Provision of Information and Documents) (Amendment) Regulations 2021 (SI 2021/920) (Amending Regulations) have been...more
Flood insurance: UK government response to independent review Following the publication in November 2020 of a report on the independent review of flood insurance in Doncaster, the government has published a policy...more
8/9/2021
/ Dear CEO Letter ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Flood Insurance ,
HM Treasury ,
Insurance Brokers ,
Insurance Industry ,
Life Insurance ,
Prudential Regulation Authority (PRA) ,
Solvency II ,
UK
FCA regulatory sandbox: new application guide and now always open The Financial Conduct Authority (FCA) has published a new guide to assist firms making a regulatory sandbox application. The FCA has also updated its webpage...more
8/9/2021
/ Alternative Investment Fund Managers Directive (AIFMD) ,
AML/CFT ,
Banking Sector ,
Committee on Payments and Market Infrastructure (CPMI) ,
Consultation Papers ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
MiFID II ,
Prudential Regulation Authority (PRA) ,
Sustainable Finance ,
UCITS ,
UK
Bank of England Act 1998 (Macro-prudential Measures) (Amendment) Order 2021 The Bank of England Act 1998 (Macro-prudential Measures) (Amendment) Order 2021 (SI 2021/869) has been published, together with an explanatory...more
Draft Markets in Financial Instruments, Benchmarks and Financial Promotions (Amendment) (EU Exit) Regulations 2021 HM Treasury has published a draft version of the Markets in Financial Instruments, Benchmarks and Financial...more
8/2/2021
/ AML/CFT ,
BEIS ,
EU ,
European Commission ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Instruments ,
Financial Markets ,
Financial Services Industry ,
HM Treasury ,
MiFIR ,
Prudential Regulation Authority (PRA)
ESG and sustainable investment funds: FCA guiding principles On 19 July 2021, the Financial Conduct Authority (FCA) published a Dear Chair letter addressed to the chairs of authorised fund managers (AFMs) on improving the...more
SMCR for FMIs: HM Treasury consultation HM Treasury has published a consultation paper proposing a Senior Managers and Certification Regime (SMCR or SM&CR) for financial market infrastructures (FMIs). The consultation closes...more
8/2/2021
/ Bank of England ,
Environmental Social & Governance (ESG) ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Markets ,
IOSCO ,
Listing Rules ,
MiFID ,
UK
Solvency II review: PRA QIS material and related Dear CEO letter on data gathering The Prudential Regulation Authority (PRA) has updated its Solvency II Review Quantitative Impact Study (QIS) webpage with the QIS materials,...more
FCA mortgage prisoners review: terms of reference The Financial Conduct Authority (FCA) has published the terms of reference for its mortgage prisoners review. Working closely with HM Treasury, and engaging with interested...more
COVID-19 BI insurance test case: FCA updates webpage The Financial Conduct Authority (FCA) has updated the webpage on its business interruption (BI) insurance test case. The FCA has published the Supreme Court order varying...more
UK open-ended funds review: BoE and FCA conclusions On 13 July 2021, the Bank of England (BoE) and the Financial Conduct Authority (FCA) set out the conclusions of their joint review into UK open-ended funds in a section on...more
Benchmarks (Provision of Information and Documents) Regulations 2021 The Benchmarks (Provision of Information and Documents) Regulations 2021 (SI 2021/812) have been published, together with an explanatory memorandum. The...more
AFMs assessment of funds' value: FCA multi-firm review findings The Financial Conduct Authority (FCA) has published its findings following a review of the processes used by different authorised fund managers (AFMs) when they...more
Listing regime: FCA Primary Markets Effectiveness Review -
The Financial Conduct Authority (FCA) has published a consultation paper, CP21/21, seeking views on how primary markets can work more effectively for both...more
Internal ratings based UK mortgage risk weights: PRA PS16/21 -
Following its consultation in CP14/20, the Prudential Regulation Authority (PRA) has published a policy statement, PS16/21, on new expectations on internal...more
Future framework for regulation of UK financial services: Treasury Committee report - The House of Commons Treasury Committee has published its Fifth Report of Session 2021-22 on the future framework for regulating financial...more
7/13/2021
/ Bank of England ,
EU ,
European Banking Authority (EBA) ,
European Commission ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
Financial Stability Board ,
General Data Protection Regulation (GDPR) ,
Libor ,
Prudential Regulation Authority (PRA) ,
UK
Markets in Financial Instruments (Capital Markets) (Amendment) Regulations 2021 The Markets in Financial Instruments (Capital Markets) (Amendment) Regulations 2021 (SI 2021/774) have been published, together with an...more
7/6/2021
/ Bank of England ,
Consultation Papers ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Financial Services and Markets Act ,
Financial Services Industry ,
Insolvency ,
IOSCO ,
Prospectus Regulation (PR3) ,
Prudential Regulation Authority (PRA) ,
UK
UK and Singapore Financial Partnership on financial services HM Treasury has announced that it has agreed a new "Financial Partnership" between the UK and Singapore which will support increased financial services between the...more
7/6/2021
/ Artificial Intelligence ,
Consultation Papers ,
ESRB ,
European Banking Authority (EBA) ,
European Central Bank ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
HM Treasury ,
Memorandum of Understanding ,
Monetary Authority of Singapore ,
Popular ,
Singapore
UK Securitisation Regulation: HM Treasury review HM Treasury has published a call for evidence to inform its review of the retained EU law version of the EU Securitisation Regulation (UK Securitisation Regulation or "Sec...more
7/6/2021
/ Banking Sector ,
Capital Requirements Regulation (CRR) ,
Coronavirus/COVID-19 ,
Dear CEO Letter ,
European Banking Authority (EBA) ,
European Central Bank ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Markets ,
Financial Services Industry ,
HM Treasury
UK Solvency II regime review: HM Treasury response to call for evidence HM Treasury has published a response to its October 2020 call for evidence on the review of the UK Solvency II prudential regime for insurers....more
The Financial Services Act 2021 (Commencement No 2) Regulations 2021 (SI 2021/739) have been published. The Regulations set out commencement dates for a number of provisions in the Financial Services Act 2021 (FS Act)....more