News & Analysis as of

United Kingdom Financial Conduct Authority (FCA) New Guidance

A&O Shearman

UK Financial Conduct Authority Publishes Expectations for Principals of Overseas Appointed Representatives

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The Financial Conduct Authority has published guidance on the challenges and expectations for principal firms with overseas appointed representatives. The AR regime allows authorized firms to appoint representatives to...more

A&O Shearman

UK Financial Conduct Authority Publishes Mortgage Charter Uptake Data

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The Financial Conduct Authority has published a new webpage on Mortgage Charter Uptake data. The webpage sets out the latest uptake data from firms who have signed the Government's Mortgage Charter. The Charter was introduced...more

A&O Shearman

UK Financial Conduct Authority Publishes Guidance on Anti-Greenwashing Rule

A&O Shearman on

On April 23, 2024, the U.K. Financial Conduct Authority published guidance on its anti-greenwashing rule, which was introduced into the FCA Handbook's Environmental, Social and Governance Sourcebook as part of the FCA's...more

Katten Muchin Rosenman LLP

UK FCA Publishes Guidance on Social Media Financial Promotions

On 26 March 2024, the Financial Conduct Authority (FCA) issued its finalised guidance in relation to financial promotions on social media (Finalised Guidance). Background - The Finalised Guidance follows the FCA’s July...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Capital Ratio: Roundup of Upcoming UK Regulatory Reforms for Financial Institutions

UK regulators have recently announced a number of reforms for banks and other financial institutions. - On 23 November 2023, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) (together,...more

BakerHostetler

Swiss Banks Launch Crypto Offerings; GAO Addresses SEC Crypto Bulletin; UK and Hong Kong Publish Crypto Guidance; DOJ and SEC...

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Swiss Banks Launch Tokenization Pilot, Crypto Custody and Trading Services - A recent press release announced a pilot by “SIX, the Swiss National Bank (SNB) and six commercial banks” that seeks “to test, in a live...more

Latham & Watkins LLP

Recent Developments for UK PLCs - November Edition

Latham & Watkins LLP on

On 16 October 2023, Nikhil Rathi, Chief Executive of the FCA, delivered a speech at the City Dinner at Mansion House which describes the FCA’s work in supporting international competitiveness and growth. Amongst other things,...more

BakerHostetler

Bank Launches Blockchain Network; Stablecoin Initiatives Launch in Foreign Markets; New Crypto Guidance Published; Reports Provide...

BakerHostetler on

U.S. Bank Launches Blockchain Network, Crypto Bank Gains Securities License - According to recent reports, the largest bank in the U.S. has gone live with its blockchain-based Tokenized Collateral Network (TCN) and...more

BCLP

Corporate Briefing - August 2023

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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

Latham & Watkins LLP

Consumer Duty: What Do Boards Need to Know?

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What Is the Consumer Duty? To recap, a core priority for the Financial Conduct Authority (FCA) is improving outcomes for consumers. The FCA has stated that it is concerned that, due to the way financial services markets...more

BCLP

Banking Bites - July 2022

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Welcome to Banking Bites! This is our short summary flagging key developments in the UK that we hope will inform your activities in your market. This edition covers...more

BCLP

FCA review of sponsors requests: identifying and managing conflicts

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The FCA has published Primary Market Bulletin No.37 (PMB) with the findings of its review of conflict queries since the publication of Technical Note 701.3. In general, there have been fewer conflict queries but the review...more

BCLP

FCA’s New Rules for SPACs

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In response to Lord Hill’s review of the UK Listing Regime, the FCA consulted earlier this year on changes to the Listing Rules for special purpose acquisition companies (SPACs). The proposed changes remove the presumption of...more

BCLP

Watch Out For Basis Risk - Preparing and Executing LIBOR Transition in UK PPP, Infrastructure: Government Publishes Guidance

BCLP on

The Infrastructure Projects Authority (“IPA”) recently published guidance on LIBOR transition and key considerations for both UK PFI/PPP contractors and their financiers in respect of active LIBOR transition. Whilst this...more

McDermott Will & Emery

LIBOR: Q1 2021 Snapshot

McDermott Will & Emery on

On 5 March 2021, the Financial Conduct Authority (FCA) set out certain key dates for the cessation of all 35 London Inter-Bank Offered Rate (LIBOR) settings published by ICE Benchmark Administration. Whilst there has been...more

Latham & Watkins LLP

FCA Issues New Safeguarding Guidance for Payment and E-Money Firms Amid COVID-19

Latham & Watkins LLP on

The additional temporary guidance aims to strengthen the arrangements for safeguarding customers’ funds and firms’ prudential risk management in light of the impact of COVID-19. On 9 July 2020, the FCA published its...more

Latham & Watkins LLP

The CFRF Guide to Climate-Related Financial Risk Management

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The CFRF’s practical Guide encourages UK regulated financial services firms to take active steps to manage climate-related financial risks. Background - On 29 June 2020, the Climate Financial Risk Forum (CFRF) launched...more

Latham & Watkins LLP

FCA and PSR Support CMA’s Guidance on Business Cooperation Under Competition Law

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The CMA recognises that businesses may need to cooperate to ensure supply of essential products and services during the COVID-19 outbreak. On 27 March 2020, the FCA and Payment Systems Regulator (PSR) announced their...more

Latham & Watkins LLP

FCA Proposes New Rules on Climate-Related Disclosures by Listed Issuers

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The FCA is moving towards formalising issuers’ compliance with the TCFD recommendations. Key Points: ..The FCA is proposing that premium listed commercial companies will need to disclose how they have implemented the...more

Hogan Lovells

UK: FCA Release Finalised Guidance on General Insurance Distribution Chain (FG19/5)

Hogan Lovells on

This week the FCA has published detailed finalised guidance setting out their expectations of insurance product manufacturers and distributors in relation to product value and distribution arrangements in general insurance....more

Dechert LLP

Investment Funds Update – Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

Dechert LLP on

FCA issues final report in investment platforms market study - The FCA has published the final report in its investment platforms market study. While the FCA found competition generally to be working well, it was...more

Dechert LLP

UK FCA Issues Consultation Paper on Draft Regulatory Guidance on Cryptoasset Categorisation

Dechert LLP on

Following its commitment within the report issued on 30 October 2018 by the UK’s Cryptoassets Taskforce1, on 23 January 2019 the FCA issued a Consultation Paper (“CP 19/3”)2 setting out draft regulatory guidance in respect of...more

White & Case LLP

ICOs and Security Tokens: FCA Consults on Crypto Guidance

White & Case LLP on

The UK FCA launched on 23 January 2019 its highly anticipated consultation1 (CP19/3) on Guidance for market participants as to where certain cryptoassets sit in relation to the regulatory perimeter - and whether relevant...more

Latham & Watkins LLP

FCA Finalises Changes to its Financial Crime Guide

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The FCA has finalised a new chapter on insider dealing and market manipulation. Key Points: ..Firms should take note of the new guidance, which applies immediately. ..Helpfully, the FCA has clarified that firms do...more

A&O Shearman

UK Government Publishes Guidance on Proposed Legislation to Onshore EU Legislation on Financial Conglomerates and Groups

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HM Treasury has published explanatory information on the draft Financial Conglomerates and Other Financial Groups (Amendment) (EU Exit) Regulations 2018, which it intends to publish in due course. The draft Regulations will...more

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