News & Analysis as of

Financial Services Industry Banks Bank of England

Hogan Lovells

Bank of England publishes discussion paper on innovations in money and payments

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On 30 July 2024, the Bank of England (BoE) published a discussion paper setting out its approach to innovations in money and payments (Discussion Paper). In the Discussion Paper, the BoE sets out its current view on...more

A&O Shearman

Operational resilience feedback from UK Financial Conduct Authority

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Firms have just over six months until the transition period for implementing the UK Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) and the Bank of England rules and guidance on operational resilience...more

A&O Shearman

Key Regulatory Topics: Weekly Update 23-29 Feb 2024

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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

Skadden, Arps, Slate, Meagher & Flom LLP

UK Regulators Published Reforms and Proposals in January 2024 That Will Impact the Banking Sector, Including a Consultation on...

In this alert we consider various reforms and proposals to the banking sector announced by UK regulators. On 11 January 2024, HM Treasury published a consultation paper on enhancing the UK’s Special Resolution Regime for...more

A&O Shearman

UK Seeks to Enhance Resolution Regime for Small Banks Following SVB Failure

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HM Treasury has launched a consultation that sets out proposals for enhancing the Special Resolution Regime by introducing a new means for the Bank of England, as the U.K. resolution authority, to use stabilization powers to...more

Hogan Lovells

UK Future of Payments Review Report calls for National Payments Vision and Strategy

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HM Treasury has published a report on the Future of Payments Review 2023 (the Report), which was launched as part of the Chancellor's Mansion House Reforms in July 2023. The Report aims to provide a 'high-level, strategic...more

Hogan Lovells

UK Financial Services Regulatory Initiatives Forum publishes seventh edition of Grid

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The eagerly awaited seventh edition of the Financial Services Regulatory Initiatives Grid was published on 30 November 2023 by the Financial Services Regulatory Initiatives Forum. The Regulatory Initiatives Grid sets out the...more

A&O Shearman

UK Regulators Publish Revised Complaints Scheme

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The U.K. Financial Conduct Authority, Prudential Regulation Authority and Bank of England have jointly published their revised Complaints Scheme, which governs how complaints against the U.K. regulators should be made and...more

Cadwalader, Wickersham & Taft LLP

Bank of England Issues Updated Assessment of Climate-Related Risks and Regulatory Capital Requirements for Financial Institutions

The Bank of England released a report titled Climate-Related Risks and the Regulatory Capital Framework (Report) on March 13, 2023. The Report expands on the Bank’s 2021 Climate Change Adaptation Report (CCAR), in which it...more

White & Case LLP

Silicon Valley Bank UK Limited – Sale to HSBC UK Regulatory Considerations

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On Monday March 13, 2023, the Bank of England announced that Silicon Valley Bank UK Limited has been sold to HSBC UK Bank Plc. The situation remains fluid, and the following Q&A reflects our understanding as of Monday...more

White & Case LLP

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

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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

A&O Shearman

Financial Services and Markets Bill: Regulating central counterparties and central securities depositories

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The Financial Services and Markets Bill establishes a new framework for the Bank of England’s regulation of Financial Market Infrastructure (FMI) and in particular central counterparties (CCPs) and central securities...more

A&O Shearman

UK Regulators Propose Requirements for Critical Third Parties' Services to UK Regulated Firms

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The Bank of England, Prudential Regulation Authority and Financial Conduct Authority (together, the supervisory authorities) have published a discussion paper proposing measures to supervise and enhance the resilience of...more

A&O Shearman

Bank of England Drops Warning Against Profit Distributions for Financial Market Infrastructures

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The Bank of England has written to the CEOs of all regulated U.K. financial market infrastructures notifying them that they are no longer expected to discuss prospective shareholder distributions with the BoE....more

Hogan Lovells

Bank of England announces June 2021 launch date for climate stress test exercise

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The Bank of England has announced its climate stress test exercise for the financial services sector will be held in June 2021. Climate stress test launch - The stress test is a tool to (i) measure the risks faced in...more

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