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Latham & Watkins LLP

Key Takeaways From Rachel Reeves’ Mansion House Speech

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The UK Chancellor announces a growth-focused agenda for financial services. On 14 November 2024, the new Chancellor of the Exchequer, Rachel Reeves, delivered her first Mansion House speech....more

Skadden, Arps, Slate, Meagher & Flom LLP

The Sanctions Puzzle: Key Areas To Watch in 2025 and Beyond

The past weeks and months have brought about tremendous political change in the West, as we move toward a new U.S. administration, a new College of Commissioners in Brussels and a new Polish presidency of the Council of the...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Standard Formula: A Guide to Solvency II – Chapter 13: Supervision

1. The Supervision Regime - Proportionality - The supervision regime is built on the principle of “proportionality,” in an effort to ensure that supervision remains effective and meets its underlying purposes without...more

A&O Shearman

New York Climate Week: TFMR event explores perspectives on accelerating decarbonization

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We were delighted to host the U.K. Transition Finance Market Review’s (TFMR) flagship event at New York Climate Week, in partnership with the City of London Corporation who host the TFMR secretariat. The session offered a...more

A&O Shearman

UK Financial Conduct Authority Speech on Evolving Approach to Enforcement

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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

White & Case LLP

Sector trends - September 2024: Asset/Wealth Management

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UK & European Financial Services M&A: Sector Trends H2 2023 | H1 2024 — Asset/Wealth Management - Current market: Consistently high M&A activity levels - We are seeing: Europe's barbell becomes more pronounced—larger...more

White & Case LLP

Tepid UK & European private capital markets spur unicorns into inorganic opportunities

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3 reasons for continuously high fintech M&A activity levels: Banks target indirect digital access: Through credit lines, investments in venture capital funds, collaborations with innovators and establishment of next...more

White & Case LLP

Sector trends - September 2024: Specialty Finance / Marketplace Lending

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UK & European Financial Services M&A: Sector Trends H2 2023 | H1 2024 — Specialty Finance / Marketplace Lending - Consolidation fever grips non-bank lenders and banks alike—SME lending, revenue-based finance and...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Standard Formula: A Guide to Solvency II – Chapter 11: The Valuation of Assets and Liabilities

This chapter discusses the valuation of assets and liabilities under Solvency II. Given that strategic asset allocation and investment management are key aspects of an insurer’s business, especially for life insurers, this is...more

A&O Shearman

UK Announces Final Reforms to Financial Services Retail Disclosure Requirements

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Post Brexit, the U.K. Government and Financial Conduct Authority are committed to the ongoing reform programme to reinvigorate the U.K.'s capital markets. As part of this, the Government and FCA are committed to replacing...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Standard Formula Podcast | Insurers in Difficulty: Staying Compliant Under Solvency II

“The Standard Formula’s” Rob Chaplin once again gives listeners a look at how to address some of the intricacies of Solvency II. In this episode, he is joined by Feargal Ryan for a discussion on how insurers should navigate...more

Alston & Bird

Structured Finance Spectrum - Summer 2024

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Welcome to the latest edition of the Spectrum, covering hot-topic issues in the structured finance markets in the U.S. and UK. This edition features the new UK securitization regime, eHELOCs, and climate risk disclosures....more

A&O Shearman

Market abuse surveillance: UK FCA shares observations on good and poor practices

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Compliance with UK MAR depends on effective systems - The UK Market Abuse Regulation (UK MAR) requires firms to identify and report instances of potential market abuse. Their ability to do this depends on the effectiveness...more

Mayer Brown

Managing Sovereign Immunity Risk on a Transaction – What Commercial Parties Need to Know

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AT A GLANCE - State involvement in commercial transactions continues to increase and remains an area of distinct legal risk for commercial parties. The nature of a state's role on any transaction may vary and its...more

A&O Shearman

FCA publishes final UK listing rules

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On 11 July 2024, the Financial Conduct Authority (FCA) published Policy Statement PS24/6 (Policy Statement), in which it sets out its final UK listing rules and summarises feedback to its earlier consultation and stakeholder...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Standard Formula: A Guide to Solvency II – Chapter 8: Capital Requirements

The Solvency Capital Requirement (SCR) is designed to protect policyholders by helping ensure that insurers can survive difficult periods and pay claims as they fall due. It prescribes a specific level of capital that an...more

Skadden, Arps, Slate, Meagher & Flom LLP

FCA Proposes Introducing Bundled Payments Option for Investment Research Services

In July 2023, the UK government published its findings from the Investment Research Review (Review) as part of the UK government’s Edinburgh Reforms. The Review made a number of recommendations to encourage research...more

A&O Shearman

UK Conduct Regulator Proposes Payment Optionality for Investment Research

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The U.K. Financial Conduct Authority has opened a consultation setting out proposals for allowing firms to use joint (bundled) payments for third-party research and execution services, subject to certain requirements being...more

White & Case LLP

Proposed Directive Pertaining to Loss Absorbency Requirements Published for Comment

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On 26 March 2024 the Prudential Authority published, for public comment, the revised proposed directive on loss absorbency requirements for banks, bank controlling companies and branches of foreign institutions under...more

Skadden, Arps, Slate, Meagher & Flom LLP

Insights Special Edition: Women’s History Month

Celebrating Women’s History Month, we present a special edition of our quarterly Insights publication, highlighting the talent and insights of women at Skadden. The issue spotlights their authorship on such topics as the...more

A&O Shearman

Is more regulation the best route to deliver Net Zero?

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How to accelerate the transition to a sustainable economy is a hot regulatory topic for most major economies around the world – and is set to continue ascending the agenda in the years to come. As sustainability-related...more

A&O Shearman

Regulatory monitoring Newsletter - February 2024

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1. Bank regulation - 1.1 Prudential regulation - (a) General - (i) EU - ECB: Memorandum of Cooperation between ECB and CAs on third-country bank supervision - Status: Final - The ECB has published a Memorandum of...more

A&O Shearman

EU Securitisation Regulation: good news for Cayman SSPEs

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As the EU removes the Cayman Islands from the EU AML/CFT blacklist with effect from 7 February 2024, concerns and barriers for EU sell- and buy-side parties on securitisations involving Cayman SSPEs fall away....more

Skadden, Arps, Slate, Meagher & Flom LLP

Basel 3.1 Implementation in the UK: An Update on PRA Reforms

On 12 December 2023, the UK Prudential Regulation Authority (PRA) published the first of two near-final policy statements on the implementation of revisions to the Basel 3 standards, known in the U.K. as Basel 3.1. This...more

A&O Shearman

FCA proposals for updated sponsor regime as part of UK Listing reforms

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In the second of our publications on the FCA’s Consultation Paper (CP23/31) setting out its detailed proposals for listing rules reforms, we take a closer look at what the proposals mean for the sponsor regime. The FCA...more

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