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Competition United Kingdom Financial Conduct Authority (FCA)

McDermott Will & Emery

The Vifor Case: Disparagement Reloaded?

McDermott Will & Emery on

On July 22, 2024, the European Commission (EC) accepted commitments proposed by Vifor Pharmaceuticals to address disparagement concerns under Article 102 TFEU. This is the EC’s first pure disparagement case and its second...more

Proskauer - Regulatory & Compliance

UK Listing Rules Reform: Seeking to Boost Competitiveness

On 11 July 2024, the United Kingdom’s Financial Conduct Authority (“FCA”) published its final rules (PS24/6) for a new, simplified and more competitive UK listing regime (the “Rules”).The FCA’s overall aim is to create a more...more

Latham & Watkins LLP

FCA Publishes Findings From Its Wholesale Data Market Study

Latham & Watkins LLP on

The FCA found that wholesale data markets can be improved, but has ruled out a significant intervention. The FCA has published the findings of its wholesale data market study (MS23/1.5), which examined competition in the...more

Goodwin

Horizon Scan for Private Investment Funds: Key Recent and Expected Funds, Regulatory, and Tax Developments to Look Out For

Goodwin on

Welcome to the third edition of our Horizon Scan, where we focus on some of the principal recent and expected developments and changes that we expect to be of interest to those in the private funds and investment management...more

Skadden, Arps, Slate, Meagher & Flom LLP

AI in Europe: Road Map for Navigating the IP, Data Protection and Regulatory Considerations

Organizations developing or using generative AI tools should implement cross-functional governance frameworks to develop and continuously monitor their use of such tools. From the earliest stages of generative AI use,...more

A&O Shearman

A Boost for U.K. Financial Services - The U.K. Financial Services and Markets Act 2023

A&O Shearman on

The U.K.’s newest Financial Services and Markets Act of 2023 (“FSM Act”) received Royal Assent on 29 June 2023. Certain parts came into force on its passing, others will come into effect two months after that, and the...more

Goodwin

Generative AI and Financial Services: A Recent View From the UK Regulator

Goodwin on

In a recent speech, Nikhil Rathi, CEO of the UK Financial Conduct Authority (FCA), set out the FCA’s latest views on the role of artificial intelligence (AI) in financial services. The speech highlights many benefits but also...more

Goodwin

FCA Publishes Feedback Statement on Potential Competition Impacts of Big Tech Entry and Expansion in Retail Financial Services

Goodwin on

On 12 July 2023, the UK Financial Conduct Authority (FCA) published Feedback Statement 23/4: The potential competition impacts of Big Tech entry and expansion in retail financial services (FS23/4). This summarised the...more

A&O Shearman

Tips from the Top: A conversation with the UK's tech regulators

A&O Shearman on

Earlier this summer, as part of our women in tech initiative, Talking Tech Together, Allen & Overy hosted an engaging and insightful virtual fireside chat with senior women from four of the tech regulators in the UK: the UK...more

Cadwalader, Wickersham & Taft LLP

UK’s Prudential Regulation Authority Publishes Annual Business Plan

The UK’s Prudential Regulation Authority (“PRA“) has published its Business Plan for 2023/23 setting out its strategic priorities and anticipating its new, secondary objective to facilitate international competitiveness and...more

Latham & Watkins LLP

The “Edinburgh Reforms”: Timetable of Key Changes

Latham & Watkins LLP on

The timetable sets out three tranches of extensive regulatory changes to UK and EU law in 2023 and 2024. The “Edinburgh Reforms”, a series of announcements made on 9 December 2022 by the Chancellor of the Exchequer, set...more

Morgan Lewis - Tech & Sourcing

Ofcom Announces Program to Examine Hyperscalers

On September 22, the Office of Communications (Ofcom)—the United Kingdom’s communications regulator—announced and released a program of work stating its intention to examine the position of the largest providers of cloud...more

Latham & Watkins LLP

FCA Proposes to Unify the Listing Regime for Commercial Companies Under a Single Listing Segment

Latham & Watkins LLP on

The regulator continues its Primary Markets Effectiveness Review to promote the competitiveness of a UK listing. On 26 May 2022, the FCA published a discussion paper (DP22/2) to seek further views on how to make the UK...more

Hogan Lovells

FCA Strategy and latest Business Plan move to issues and outcomes, not sectors, in changing world

Hogan Lovells on

The FCA has just published its Strategy for the next three years, together with its 2022/23 Business Plan. In a continuation of the drive for the FCA to become more innovative, assertive and adaptive, both publications...more

A&O Shearman

Top UK finance litigation and contract law developments from 2020

A&O Shearman on

This is a round-up of the most interesting finance litigation and contractual developments in 2020. The selection is necessarily subjective and draws from a wide range of cases and developments that are of direct relevance to...more

A&O Shearman

UK taskforce recommendations map out new regulatory regime for digital firms

A&O Shearman on

On 8 December 2020, the UK Digital Markets Taskforce published its recommendations to the UK Government on the possible design and implementation of a new regulatory regime to govern the behaviour of digital firms with market...more

Skadden, Arps, Slate, Meagher & Flom LLP

The FCA’s First Antitrust Decision: “When Market Chatter Becomes Collusion”

Financial Conduct Authority (FCA) officials who were involved in the FCA’s first competition decision, Anti-Competitive Conduct in the Asset Management Sector, shared their views on the case at a Skadden-moderated Q&A session...more

Latham & Watkins LLP

Key Industry Lessons From the FCA’s First Competition Law Case

Latham & Watkins LLP on

The FCA found that three asset managers breached competition law by sharing information in relation to securities offerings. Key Points: ..The decision gives market participants some helpful indications as to what kinds...more

Dechert LLP

Investment Funds Update – Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

Dechert LLP on

FCA issues final report in investment platforms market study - The FCA has published the final report in its investment platforms market study. While the FCA found competition generally to be working well, it was...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Financial Conduct Authority’s First Antitrust Penalty: Sharing Pricing Intentions on IPOs or Share Placements With Rival Asset...

The U.K. Financial Conduct Authority (FCA) has issued its first antitrust decision since obtaining competition law powers four years ago. The decision is a controversial one....more

BCLP

The impact of Brexit on competition enforcement in financial services

BCLP on

In recent years, there has been a significant increase in competition enforcement against financial services firms active in the UK, much of which has been carried out by the European Commission (Commission) rather than the...more

Hogan Lovells

UK: A pretty clean bill of health for the London Wholesale Broker Market

Hogan Lovells on

FCA publishes its Final Report for Wholesale Insurance Broker Market Study - The FCA has published today its final Report in respect of its Market Study of the wholesale insurance broker market....more

A&O Shearman

UK Conduct Regulator Publishes Finalized Approach to Competition

A&O Shearman on

The U.K. Financial Conduct Authority has published its finalized Approach to Competition, following feedback to its consultation between December 2017 and March 2018 on a draft of its approach document. The FCA's Approach to...more

A&O Shearman

UK Conduct Regulator Publishes Interim Report on Investment Platforms Market Study

A&O Shearman on

The U.K. Financial Conduct Authority has published an Interim report as part of its market study to ascertain whether competition between investment platforms is working in the interests of consumers. The FCA launched the...more

Akin Gump Strauss Hauer & Feld LLP

In Principle: 10 Things Authorised Firms Need to Know for 2018 – The World of Financial Regulation as the UK Prepares to Exit the...

There is much for authorised firms to consider in the year ahead. Firms have been through the intensive period of the enactment of the second Markets in Financial Instruments Directive (MiFID II), but must now step up their...more

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