The Standard Formula Podcast | Developments on the Horizon for the UK Change-in-Control Regulatory Regime
Brexit & Financial Services: Preparing for the End of the Transition Period
The UK’s Financial Conduct Authority ("FCA") has recently successfully applied to the Court of Appeal to uphold an earlier decision to impose requirements for redress in relation to conflicts of interest. This decision serves...more
With the new mandatory reimbursement requirements for Faster Payments and CHAPS now in force, we provide a quick reference guide to the key publications to date. As in-scope payment service providers (PSPs) move into the...more
In our latest round-up of developments in ESG for UK clients, we cover the following topics: Shareholder activism continues FCA's green labelling rules – deadline for implementation delayed Environmentalists step on the gas:...more
On 27 September 2024, the Financial Conduct Authority (“FCA”), imposed a financial penalty of approximately £29 million on the British bank – Starling Bank Limited (“Starling”) – for failings related to its financial crime...more
Many governments are grappling with the question of how to regulate artificial intelligence to ensure it is adopted safely and used responsibly without hampering innovation. Governments have generally indicated similar...more
The recent decision by the Court of Appeal in FCA v BlueCrest Capital Management [2024] EWCA Civ 1125 reverses the Upper Tribunal’s decision in BlueCrest Capital Management (UK) LLP v FCA [2023] UKUT 00140 (TCC) (which we...more
The U.K. Financial Conduct Authority has published a speech by Therese Chambers, FCA Joint Executive Director of Enforcement and Market Oversight, on the FCA's evolving approach to enforcement. The FCA is adapting its...more
Long gone are the days where brands could rely simply on purchasing advertising space in newspapers or investing in eye-catching brochures to display their products. Now, the world is their oyster with the advance of the...more
Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more
After a relatively quiet period over the summer due to the general election, the post-holiday period has been a busy one on the retail banking, consumer finance and payments regulatory front. There have also been some FCA...more
On 18 September 2024, the FCA provided insights from its supervisory activity on price and value in its priority areas of cash savings, GAP insurance and cash on investment platforms following the implementation of the...more
Cautious deployment of M&A war chests while concerns relating to IPO and equity market trading buoyancy continue. Current market: Fewer M&A deals as Europe's FMI tectonic plates digest acquisitions of yesteryear...more
1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) EU - EC: Report on the future of European competitiveness Status: Final - The EC has published a report on the future of European competitiveness,...more
For any UK fintech business involved with payments of electronic money (e-money) and any (experienced) investor in these businesses, safeguarding client funds is a key regulatory issue....more
Equity and debt cheques from financial sponsors fuel growth, with investment committee appetite across the full spectrum from Seed through to late stage / pre-IPO. The payments sector bucks the trend on IPOs. Current...more
Welcome to the Corporate Briefing, where we review the latest developments in UK corporate law that you need to know about. In this month’s issue we discuss...more
On 30 September 2024, the Bank of England (the “Bank”) and the Financial Conduct Authority (the “FCA”) announced that the Digital Securities Sandbox (the “DSS”) is now open for applications. The Bank and the FCA have also...more
In July this year the FCA announced that, following the launch of a review of historical motor finance commission arrangements and sales across several firms (January 2024), it was pushing back the timing for publication of...more
The Payment Systems Regulator (PSR) has published a response to its December 2023 consultation (call for views) which set out initial proposals on how the PSR could support the expansion of Variable Recurring Payments (VRPs)...more
The U.K. Financial Conduct Authority had published a consultation on proposals to address weaknesses in the safeguarding regime for payments and e-money firms. The FCA explains that there remain poor practices across the...more
UK & European Financial Services M&A: Sector Trends H2 2023 | H1 2024 — Consumer Finance - Current market: Inflexion point for UK & European consumer lending - We are seeing: Significant consolidation activity: ...more
Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. TPR publishes statement of strategy templates - New...more
This month the UK Financial Conduct Authority (FCA) published its Annual Report and Accounts covering the period April 2023 – March 2024, which includes information on its enforcement activity during that period. The FCA has...more
The U.K. Prudential Regulation Authority has published a consultation on its proposals to restate, and in some cases modify, the U.K. Capital Requirements Regulation requirements relating to the definition of own funds in its...more
The U.K. Prudential Regulation Authority has published a consultation on streamlining the Pillar 2A capital framework and capital communications process. In addition to PRA-regulated banks, building societies, designated...more