News & Analysis as of September 18, 2024

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The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -

Regulation Round Up - August 2024 - 2

Proskauer Rose LLP on 9/11/2024

Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more

Bank of England Seeks Innovation in Money and Payments, With a Focus on Distributed Ledger Technology

Skadden, Arps, Slate, Meagher & Flom LLP on 8/5/2024

On 30 July 2024, the Bank of England published a discussion paper on its approach to innovation in money and payments (the Discussion Paper). A recurring theme is the Bank of England’s focus on the potential use of...more

A deep dive into the FCA’s approach to the regulation of AI within financial services

BCLP on 5/3/2024

Last week the FCA issued three announcements concerning its approach to the digital future of financial services in the UK. Amongst these was the FCA’s AI Update, their response to the government’s recent AI consultation...more

Key Regulatory Topics: Weekly Update 23-29 Feb 2024

A&O Shearman on 3/6/2024

Amongst the broad range of updates this week, at international level, the FSB published its thematic peer review on MMF Reforms and the BCBS published the outcomes of its meeting held on 28 and 29 February, including that it...more

Joining the Dots - Will the UK’s New Critical Third Party Rules Truly Move the Dial for Financial Institutions?

BCLP on 2/12/2024

The announcement in 2021 of the intention to implement new rules directly targeting the types of tech service provider relied on by most financial institutions may be a necessary corrective given the heavy market...more

The U.K.’s New Regime for Critical Third Party Supervision

A&O Shearman on 1/23/2024

Regulated financial services institutions and financial market infrastructure (FMI) providers often rely on third parties who provide significant services to them behind the scenes, including “cloud” services and IT services...more

AI Insights: How Regulators Worldwide Are Addressing the Adoption of AI in Financial Services

Skadden, Arps, Slate, Meagher & Flom LLP on 12/13/2023

Following the declaration of the international artificial intelligence (AI) “Safety Summit” at Bletchley Park (Bletchley Summit) on November 1, 2023, and the White House’s October 30, 2023, Executive Order on AI (Executive...more

Operational resilience in the UK, EU and US: A comparison

White & Case LLP on 12/5/2022

With a new operational resilience framework in force in the UK and similar reforms proposed in the EU and the US, we examine how the regimes compare and their practical impact on financial services firms....more

E-Money, Payment Services, and Insolvency

Latham & Watkins LLP on 11/10/2022

Consumers and service providers should take note of some of the enhanced risks upon an e-money institution’s insolvency. Technology is rapidly changing the way customers and businesses interact with financial systems....more

Regulation Round Up - October 2022

Proskauer Rose LLP on 10/5/2022

Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. ...more

Daily Financial Regulation Update -- Saturday, September 24, 2022

Paul Hastings LLP on 9/26/2022

September 23, 2022- The European Banking Authority (EBA) launched its annual EU-wide transparency exercise, as part of its efforts to monitor risks and vulnerabilities and to reinforce market discipline....more

UK Regulators Propose Changes to Margin Requirements for Non-Centrally Cleared Derivatives

A&O Shearman on 9/20/2022

The U.K. Prudential Regulation Authority and Financial Conduct Authority have issued a joint consultation paper on proposals to amend the U.K. Binding Technical Standards on margin requirements for non-centrally cleared...more

Daily Financial Regulation Update -- Friday, July 15, 2022

Paul Hastings LLP on 7/15/2022

The U.S. Senate Committee on Banking, Housing, and Urban Affairs held a hearing entitled, "Advancing National Security and Foreign Policy Through Export Controls: Oversight of the Bureau of Industry and Security."...more

Daily Financial Regulation Update -- Saturday, June 18, 2022

Paul Hastings LLP on 6/20/2022

The Financial Action Task Force (FATF) concluded the last Plenary under the German presidency and produced policy recommendations to strengthen efforts to combat corruption and the misuse of virtual assets. The FATF again...more

Daily Financial Regulation Update -- Wednesday, June 15, 2022

Paul Hastings LLP on 6/15/2022

Congress- U.S. Senate- Committee on Banking, Housing, and Urban Affairs- Hearing: Considering the Index Fund Voting Process-...more

Daily Financial Regulation Update -- Tuesday, June 14, 2022

Paul Hastings LLP on 6/14/2022

Federal Agencies- Federal Reserve Bank of New York- Survey of Consumer Expectations: Household Spending Expectations Rise Sharply; Credit Access Perceptions and Expectations Deteriorate Further-...more

Regulation Round Up - May 2022

Proskauer Rose LLP on 6/13/2022

Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. Key developments in May 2022: 31 May - Key developments in May 2022: The European...more

Daily Financial Regulation Update --Wednesday, June 8, 2022

Paul Hastings LLP on 6/8/2022

Congress- U.S. Senate- Committee on Banking, Housing, and Urban Affairs- Brown Presses FSOC to Protect Consumer Data-...more

Global Payments Newsletter, March 2022

Hogan Lovells on 3/31/2022

Key developments of interest over the last month include: In this Newsletter: For previous editions of the Global Payments Newsletter, please visit our Financial Services practice page. On 9 March 2022, President Biden signed...more

UK Government Consultation on Regulation of Central Counterparties and Central Securities Depositories

A&O Shearman on 2/17/2022

HM Treasury has released a further consultation under the Future Regulatory Framework Review concerning the regulation of central counterparties and central securities depositories. The Future Regulatory Framework Review is...more

Global Payments Newsletter, September 2021

Hogan Lovells on 9/29/2021

Key developments of interest over the last month include: El Salvador: Bitcoin becomes legal tender European Union: European Commission proposes Path to the Digital Decade to deliver EU's digital transformation by 2030...more

Securities and markets regulatory news, August 2021

Hogan Lovells on 8/2/2021

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

Financial institutions general regulatory weekly news, July 2021 #2

Hogan Lovells on 7/13/2021

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

Regulation Round Up - November 2020

Proskauer Rose LLP on 12/7/2020

30 November - The Prudential Regulation Authority (“PRA”) published a statement about its forthcoming policy statement on implementing the CRD V Directive ((EU) 2019/878). HM Treasury updated its webpage on a call for...more

UK Chancellor Outlines Future for Financial Services Post-Brexit

Latham & Watkins LLP on 11/12/2020

Equivalence decisions for EEA states, green finance and fintech initiatives are at the forefront of the UK government’s priorities. On 9 November 2020, the UK Chancellor of the Exchequer, Rishi Sunak, delivered a statement...more

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