CFPB’s Section 1071 Final Rule (Part 1): A General Overview - The Consumer Finance Podcast
Despite some adjustments to the proposed guardrails, the FCA has largely retained its original approach. On 26 July 2024, the FCA published its final rules on payment optionality for investment research (PS24/9)....more
In April 2024, the UK government reiterated its vision for open finance, with UK Economic Secretary Bim Afolami (MP) announcing the creation of the Open Finance Taskforce at the 2024 Innovate Finance Global Summit. The...more
El Ministerio de Hacienda y Crédito Público (MHCP) de Colombia publicó para comentarios un proyecto de decreto por medio del cual busca expandir el acceso a fuentes de financiación por parte de pequeñas y medianas empresas...more
On February 13, 2023, as part of the European Commission’s Strategy for financing transition to a sustainable economy, the European Banking Authority (EBA) launched an industry survey seeking input on green loans and...more
On 3 February 2023, the FCA published portfolio letters setting out its expectations to support firms in implementing the Consumer Duty. The letters highlight its areas of focus for each sector, as well as sector-specific...more
There are widely varying opinions on blockchain and cryptocurrency. Corporate and TMT expert Nicholas Kuria recently spoke to Africa Legal about the impacts of the technology on business, nations and lawyers. Originally...more
On April 28, 2022, the Federal Trade Commission (FTC) issued a press release announcing a notice of proposed rulemaking (NPRM) and an advance notice of proposed rulemaking (ANPR) seeking public comment on possible changes to...more
In its 2020/21 Business Plan, the FCA states its aim to move towards a regulatory approach that's increasingly focused on end outcomes for consumers, markets and firms. The Business Plan reflects this approach, honing in on...more
We describe below the legal impact on Italian loan transactions of the current health emergency caused by COVID-19 in light of the latest legislative measures, including a suspension of interest and principal payments on...more
The UK Financial Conduct Authority (FCA) has published Sector Views, its annual report examining how each financial sector is performing....more
One year on from Australia's Royal Commission on Banking - The report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (the Report), was published one year ago....more
Valdis Dombrovskis has a full in-tray that includes securing the EU banking and capital markets union as he begins his term at the European Commission. The new President of the European Commission, Ursula von der Leyen,...more
The Financial Stability Board has published its final report on the impact of financial regulatory reforms on the provision of financing to small- and medium-sized enterprises. The report follows the FSB’s consultation in...more
Round-up: Indonesia is our new quarterly newsletter, rounding up all the latest legal updates and events in Jakarta. ...more
From 1 April 2019 two significant changes take effect: - The jurisdiction of the FOS is extended to cover small and medium-sized enterprises, certain charities and trusts and personal guarantors; and - The FOS award...more
Recently, Abu Dhabi Global Market (ADGM), an international financial centre in Abu Dhabi, announced the launch of a new regulatory framework (the Framework) for operators of Private Financing Platforms (PFPs). PFPs will...more
On 5th July 2018, Hogan Lovells hosted its 5th annual Africa Forum themed "Africa Fit for the Future". One of the key sector sessions was led by Shalini Bhuchar, an asset finance partner, who chaired a panel of leading...more
The European Parliament has adopted a non-legislative resolution entitled "distributed ledger technologies and blockchains: building trust with disintermediation." Of particular relevance to the financial services sector, the...more
U.S. Financial Industry Developments - CFTC Reduces Risk for Customer Funds Held by Derivatives Clearing Organizations by Expanding Investment Options - On July 19, 2018, the Commodity Futures Trading Commission (the...more
Interagency Statement on Accounting and Reporting Implications of the New Tax Law - On January 18, 2018, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal...more
BREXIT - CBI Brexit guide to EU bodies and regulators: financial services aspects - On 21 December, the CBI published a guide to the EU bodies and regulators that matter to business in the Brexit negotiations, including...more
Looking back at the major changes since his last report 5 years ago, Andy Davis concluded on Monday evening that P2P platforms have "changed the game for small businesses, investors and regulators" in the UK, as he launched...more
The FCA's latest Business Plan demonstrates a commitment to pushing forward on both existing and new initiatives across sectors, focused on maintaining fair consumer outcomes in the rapidly changing UK financial services...more