Key developments of interest over the last month include: the European Parliament’s ECON Committee adopting draft reports on the European Commission’s PSR and PSD3 legislative proposals; ESMA consulting on 'reverse...more
November 15, 2023- U.S. House Committee on Financial Services Chair Patrick McHenry (R-NC), and Senator Cynthia Lummis (R-WY) led a letter with a bipartisan group of colleagues to the prudential regulators—the Office of...more
On November 6, the Bank of England and the Financial Conduct Authority (FCA) requested feedback on their proposal to regulate a form of cryptocurrency known as stablecoins. Stablecoins are a cryptoasset that “maintain a...more
On 28 February 2023, the House of Commons Treasury Committee questioned representatives from the Bank of England (the “BoE”) on the latest developments on its plans for the proposed UK Central Bank Digital Currency (“CBDC”)....more
Key developments of interest over the last month include: the UK Payment Systems Regulator’s proposals on mandatory reimbursement for APP fraud; the Central Bank of Ireland’s announcement of a review of the Consumer...more
Assertive regulators are bringing greater clarity and new challenges as they step up oversight of fintech innovation. As the fast-growing fintech industry thrives, the sector has begun to attract greater regulatory...more
The Bank of England and HM Treasury have announced the next steps in the development of a U.K. Central Bank Digital Currency. These include the following...more
United Kingdom: Financial Services Act 2021 becomes law - On 29 April 2021, the Financial Services Bill 2019-21 received Royal Assent. In a press release, HM Treasury described the Financial Services Act 2021 (the Act) as...more
Andrew Bailey outlined what payments market participants can expect from regulators seeking to address financial stability risk in the world of payments, including as part of the rise and adoption of global stablecoins. On...more
Nike’s top dog, CEO Mark Parker, is stepping down at the beginning of 2020, to be replaced by board member and ServiceNow CEO John Donahoe. Parker, who will assume the role of executive chair when Donahoe takes over, has been...more
The U.K. Crypto-Assets Task Force has published its Final Report. Established in March 2018 by the U.K. Chancellor of the Exchequer as part of the U.K. government's FinTech Sector Strategy, the Task Force comprises...more
What has happened? The Bank of England (BoE) has confirmed that its revamped real-time gross settlement (RTGS) system will be compatible with interface systems that run on blockchain-based technology....more
The Hogan Lovells’ Corporate Insurance Newsletter for June has been published. This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants. ...more