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Proposed Amendments Consultation

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

Jones Day

Consultation Conclusions on Proposed Amendments to Enforcement-Related Provisions of Hong Kong's SFO

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On 8 August 2023, the Securities and Futures Commission of Hong Kong ("SFC") published consultation conclusions on proposed amendments to enforcement-related provisions of the Securities and Futures Ordinance ("SFO")....more

Latham & Watkins LLP

HM Treasury Consults on Reforms to UK Anti-Money Laundering Supervision

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The consultation sets out four potential models for reform, and also considers reform to sanctions supervision. On 30 June 2023, HM Treasury published a consultation on reforms to anti-money laundering (AML) and...more

Latham & Watkins LLP

European Commission Eases Requirements in European Sustainability Reporting Standards Consultation

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The Commission issued its formal consultation on the ESRS with a number of proposed changes. On 9 June 2023, the European Commission (Commission) issued its formal consultation on the European Sustainability Reporting...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

Re-consultation on the Draft Energy NPS: key policy changes

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Significant revisions to the draft energy NPS published for consultation align with other strands of government energy policy and legislative amendments being introduced via the Energy Bill. They strengthen the need case for...more

Latham & Watkins LLP

European Commission Consults on Further EU Taxonomy Environmental Objectives

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The Commission is also consulting on proposed targeted amendments to the Taxonomy Climate Delegated Act and on the Taxonomy Disclosures Delegated Act. On 5 April 2023 the European Commission opened a consultation on its...more

Goodwin

ESAs propose adjustments to the EU SFDR rules

Goodwin on

On 12 April 2023, the European Banking Authority, European Securities and Markets Authority and European Insurance and Occupational Pensions Authority (the ESAs) published a joint consultation paper on a review of the...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

Akin Gump Strauss Hauer & Feld LLP

Saudi Arabia Launches Public Consultation on Proposed Amendments to Personal Data Protection Law

On November 20, 2022, the Saudi Data and Artificial Intelligence Authority (SDAIA) launched a public consultation (which is open until December 20, 2022) on its proposed amendments to the Personal Data Protection Law (PDPL)....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

Latham & Watkins LLP

Hong Kong SFC Consults on Enhancements to Anti-Money Laundering Guideline

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Amidst its continued regulatory focus on money laundering and terrorist financing risks, the SFC seeks to clarify and consolidate guidance for licensed firms. On 18 September 2020, the Hong Kong Securities and Futures...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

A&O Shearman on

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

European Banking Authority Proposes Revised Implementing Technical Standards for Reporting of Securitization Information

A&O Shearman on

The European Banking Authority has published a consultation paper setting out proposed amendments to existing Implementing Technical Standards on supervisory reporting, to align the reporting of securitizations with the new...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

Stoel Rives LLP

Proposed Changes to Endangered Species Act Regulations Would Create Efficiencies Without Changing Species Protections

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Last week, the U.S. Fish and Wildlife Service (“USFWS”) and the National Oceanic and Atmospheric Administration’s National Marine Fisheries Service (“NMFS”) (collectively the “Services”) proposed rules under the Endangered...more

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