UK ring-fencing and proprietary trading independent reviews: Terms of Reference - HM Treasury has published the Terms of Reference for the upcoming statutory reviews of the ring-fencing regime legislation and banks'...more
2/9/2021
/ Coronavirus/COVID-19 ,
European Banking Authority (EBA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Infectious Diseases ,
Libor ,
Liquidity ,
Proprietary Trading ,
Regulatory Agenda ,
Stress Tests ,
UK
UK and Switzerland to deepen cooperation on financial services - HM Treasury has published a press release announcing plans to move forward to the next stage of talks between the UK and Switzerland on an agreement on...more
COVID-19: FCA updates mortgage and consumer credit repossessions guidance - On 27 January 2021, the UK Financial Conduct Authority (FCA) published a statement giving an update on mortgages, consumer credit, banking and...more
UK contactless card payments limit: FCA consults on increase - In a COVID-19 update on mortgages, consumer credit, banking and payments, the UK Financial Conduct Authority (FCA) announced that it intends to consult on...more
Debt firms: FCA portfolio letter - The UK Financial Conduct Authority (FCA) has published a portfolio letter it has sent to debt purchasers, debt collectors and debt administrators (collectively debt firms) setting out the...more
Financial Services Bill 2019-21 - Having completed its progress through the House of Commons, on 14 January 2021, the Financial Services Bill 2019-21 had its first reading in the House of Lords. A revised version of the Bill,...more
Debt Respite Scheme (Breathing Space): Insolvency Service guidance - The Insolvency Service (IS) has published guidance for creditors and money advisors about the debt respite scheme (Breathing Space), which comes into effect...more
UK-EU trade and cooperation agreement After extensive negotiations, and within a week of the Brexit transition period ending on 31 - December 2020, the UK and the EU finally announced on 24 December 2020 that they had agreed...more
1/18/2021
/ Cloud Computing ,
Coronavirus/COVID-19 ,
Cryptoassets ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Gibraltar ,
Infectious Diseases ,
Libor ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
SMCR ,
UK ,
UK Brexit
COVID-19: Pay.UK report on current account switching behaviours - On 6 January 2021, Pay.UK published a report on how COVID-19 has affected current account switching attitudes and behaviours in the UK....more
UK SRR code of practice -
HM Treasury has published a revised version of the Banking Act 2009 special resolution regime (SRR) code of practice which applies to the use of the SRR after the end of Brexit transition period....more
12/21/2020
/ Basel III ,
Capital Requirements Regulation (CRR) ,
Coronavirus/COVID-19 ,
Dear CEO Letter ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
Infectious Diseases ,
Non-Performing Loans (NPL) ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
UK
Financial Institutions Horizons is a snapshot of key legal topics and market trends across the globe, shaping the future of the financial institutions market.
When we conceived the Horizons series in 2018, the financial...more
12/16/2020
/ Biden Administration ,
China ,
Coronavirus/COVID-19 ,
Cybersecurity ,
Financial Institutions ,
FinTech ,
Infectious Diseases ,
Investigations ,
Libor ,
Sustainable Business Practices ,
UK Brexit
PIs and EMIs: HM Treasury consults on a new special administration regime -
HM Treasury is consulting on proposed insolvency changes for payment institutions (PIs) and electronic money institutions (EMIs), including a...more
UK Future Regulatory Framework Review: consultation deadline extended -
HM Treasury has extended the deadline for responding to its Phase II consultation relating to the Future Regulatory Framework Review by one month to...more
Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2020 -
The Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2020 (SI 2020/1274) have been published, together with an explanatory...more
11/23/2020
/ CRR II ,
Dear CEO Letter ,
Economic Sanctions ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
FSCS ,
Gibraltar ,
National Competent Authorities (NCA) ,
Ombudsman ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Serious Fraud Office (SFO) ,
UK
Payment Services and Electronic Money (Amendment) Regulations 2020 published -
The Payment Services and Electronic Money (Amendment) Regulations 2020 (SI 2020/1275) have been published, together with an explanatory...more
Payments landscape review: FMLC response to HM Treasury call for evidence -
The Financial Markets Law Committee (FMLC) has published response to HM Treasury's call for evidence, launched in July 2020 as part of the payments...more
COVID-19: FCA proposes additional guidance for insurance and premium finance firms on customers in financial difficulty -
The FCA has published draft additional guidance for insurance and premium finance firms, setting...more
10/26/2020
/ Coronavirus/COVID-19 ,
ESRB ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FSB ,
HM Treasury ,
Infectious Diseases ,
Libor ,
UK ,
Whistleblowers
Brexit: HM Treasury update on financial services Brexit statutory instruments
HM Treasury has published an update on its work relating to statutory instruments (SIs) laid, or to be laid, under the European Union (Withdrawal)...more
10/20/2020
/ Big Tech ,
Coronavirus/COVID-19 ,
Dear CEO Letter ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Financial Transactions ,
FSB ,
Infectious Diseases ,
Office of Financial Sanctions Implementation (OFSI) ,
Prudential Regulation Authority (PRA) ,
RegTech ,
Regulatory Agenda ,
Securitization ,
Stablecoins ,
UK ,
UK Brexit
ISO 20022 migration: BoE revised approach The Bank of England (BoE) has updated its webpage on ISO 20022 with the following information. -
ISO 20022 migration: BoE revised approach -
The Bank of England (BoE) has updated...more
Brexit: HM Treasury responds to questions on post-Brexit future relationship in financial services -
The House of Lords EU Services Sub-Committee has published a letter it has received from John Glen, Economic Secretary...more
10/13/2020
/ Coronavirus/COVID-19 ,
Credit Cards ,
Debit Cards ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Policy Committee ,
Financial Services Industry ,
Infectious Diseases ,
Investment Products ,
Refunds ,
UK ,
UK Brexit
Future strategy review: PSR requests input on three themes -
The UK Payment Systems Regulator (PSR) is working on defining its future strategy. It has published webpages requesting input on three themes...more
Card-acquiring services: PSR interim report -
The Payment Systems Regulator (PSR) has published its interim report on the supply of card-acquiring services. The PSR's market review follows concerns that the supply of...more
PRA PS20/20: response to CP3/20 occasional paper -
Following its March 2020 occasional consultation paper (CP3/20), the UK Prudential Regulation Authority (PRA) has published a policy statement, PS20/20, setting out its...more
9/15/2020
/ AML/CFT ,
Coronavirus/COVID-19 ,
EU ,
European Banking Authority (EBA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Markets ,
FinCEN ,
Infectious Diseases ,
Policy Statement ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Securities Financing Transactions (SFTs) ,
UK
SMCR extension: SI extending implementation date made -
The Bank of England and Financial Services Act 2016 (Commencement No. 6 and Transitional Provisions) (Amendment) Regulations 2020 (SI 2020/929) have been made....more
9/8/2020
/ AML/CFT ,
Artificial Intelligence ,
Bank of England ,
Digital Currency ,
Financial Conduct Authority (FCA) ,
Financial Crimes ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Initial Coin Offering (ICOs) ,
Innovation ,
Popular ,
Prudential Regulation Authority (PRA) ,
RegTech ,
RTS ,
Sandbox ,
SMCR ,
UK
COVID-19: FCA guidance for insurance and premium finance firms on customers in temporary financial difficulty -
On 11 August 2020, the UK Financial Conduct Authority (FCA) published updated finalised guidance setting out...more
8/14/2020
/ AML/CFT ,
Coronavirus/COVID-19 ,
Dear CEO Letter ,
EU ,
European Banking Authority (EBA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Investment ,
RegTech ,
Regulatory Agenda ,
UK