News & Analysis as of

Consultation United Kingdom Proposed Amendments

Latham & Watkins LLP

FCA Findings on Firms’ Treatment of Politically Exposed Persons

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Regulator finds that firms could improve how they conduct anti-money laundering checks when dealing with UK PEPs. ...more

Goodwin

UK HNW and Sophisticated Investor Exemptions: More Financial Promotion Changes

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We wrote on the impact of changes to the financial promotion rules that came into effect earlier this year. On 7 November 2023, the UK Government published the proposed changes to the Financial Promotion Order 2005 (FPO). The...more

BCLP

FRC publishes consultation on the UK Corporate Governance Code

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Following the government’s white paper on ‘Restoring trust in audit and corporate governance’, the FRC has published a consultation on the UK Corporate Governance Code (“Code”). ...more

BCLP

Cyber laws will be updated to boost UK’s resilience against online attacks

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The UK government confirmed on 30 November 2022 that there will be changes to the UK’s cybersecurity regulations in response to a public consultation launched earlier this year. This follows recent updates relating to the...more

BCLP

Significant changes to CPO compensation on the horizon

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A recently published government consultation (which closes on 19 July 2022) proposes fundamental changes in how CPO compensation is assessed and will have significant implications for landowners, acquiring authorities and...more

Latham & Watkins LLP

UK to Regulate Cryptoasset Promotions

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HM Treasury has confirmed that it will bring certain unregulated cryptoassets within scope of the financial promotions regime. On 18 January 2022, the UK government confirmed its intention to bring the promotion of certain...more

Latham & Watkins LLP

Review of UK Appointed Representatives Regime to Increase Burden on Principal Firms

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UK regulators are considering how they can strengthen the regime to enhance standards and reduce risk. On 3 December 2021, the FCA published a Consultation Paper (CP21/34) on changes to its rules regarding the Appointed...more

BCLP

FCA proposals to cut out RDC involvement in significant supervisory cases will lead to undesirable outcomes for the regulator and...

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At the end of July 2021, the FCA published a consultation paper, CP21/25, setting out proposals to reduce the decision-making remit of its quasi-independent Regulatory Decisions Committee (“RDC”) and instead bring those...more

BCLP

FCA consultation on Primary Markets Effectiveness

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Lord Hill’s review of the Listing Regime along with the Kalifa Review of UK FinTech highlighted specific elements of the listing regime that act as barriers to companies listing. According to the Lord Hill’s review, the...more

Latham & Watkins LLP

FCA Consults on Rule Changes to Accommodate SPACs

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Proposed changes to the UK Listing Rules would allow certain SPACs to avoid a listing suspension. Key Points: ..The FCA is proposing to amend its rules so that SPACs meeting certain conditions and disclosure...more

BCLP

Biggest change to private rented sector in a generation? – Reading between the lines of the Government’s plans to create “open...

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Earlier this week the Government announced to much media fanfare, significant changes to the private rented sector in England. Jeremy Stephen assesses the announcement and what might really happen going forward....more

Latham & Watkins LLP

FCA Consults on Further Amendments to the SMCR

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The FCA seeks to clarify the position of the Head of Legal and the scope of the Client Dealing Function. Key Points: ..The FCA is proposing to exclude the Head of Legal from the scope of the Senior Managers Regime. ...more

A&O Shearman

UK Prudential Regulator Proposes Minor Policy Change for Systemic Risk Buffer

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The U.K. Prudential Regulation Authority has published a consultation paper entitled "The systemic risk buffer: Updates to the Statement of Policy," proposing minor updates to its Statement of Policy, "The PRA’s approach to...more

A&O Shearman

UK Conduct Regulator Consults on Brexit-Related Changes to Its Rulebook and Binding Technical Standards

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The U.K. Financial Conduct Authority has published its first consultation on proposed changes to the FCA Handbook to ensure a functioning legal and regulatory framework for financial services in the event of a "no-deal"...more

A&O Shearman

UK Financial Conduct Authority Proposes Changes to Rules Governing Peer-to-Peer Lending Platforms

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The Financial Conduct Authority has launched a consultation on new rules for loan-based crowdfunding platforms, also known as peer-to-peer lending platforms. The FCA implemented rules regulating FCA-authorized firms operating...more

Latham & Watkins LLP

FCA Consults on UK Implementation of EU Benchmarks Regulation

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FCA proposes amendments to UK rules and clarifies timing for applications by benchmark administrators. Key Points: ..The FCA is consulting on consequential changes to the Handbook, plus additional UK aspects of...more

Latham & Watkins LLP

Proposals to Shake Up the UK IPO Timetable

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The FCA seeks to improve transparency in the UK equity IPO process. The FCA is proposing significant reforms to the UK equity IPO process, in order to address its concerns that investors should be receiving better...more

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