News & Analysis as of

United Kingdom Financial Conduct Authority (FCA) Regulatory Authority

BCLP

A deep dive into the FCA’s approach to the regulation of AI within financial services

BCLP on

Last week the FCA issued three announcements concerning its approach to the digital future of financial services in the UK. Amongst these was the FCA’s AI Update, their response to the government’s recent AI consultation...more

BCLP

The FCA’s Redress Scheme Powers - A Renewed Vigour to Secure Redress?

BCLP on

The FCA has, for many years, had an extensive range of powers available to it to require firms to undertake redress exercises. These powers have historically not been used by the FCA that frequently. Our expectation, however,...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

Upper Tribunal Clarifies Limits on FCA’s Powers to Impose Single Firm Redress Schemes

BCLP on

On 21 June 2023, the Upper Tribunal handed down its judgment in BlueCrest Capital Management (UK) LLP v The Financial Conduct Authority [2023] UKUT 00140 (TCC). The case considers both the Upper Tribunal’s jurisdiction to...more

WilmerHale

The Gambling Commission reaffirms its status as one of the UK’s most active AML enforcement authorities.

WilmerHale on

On 28 March 2023, the UK Gambling Commission (the Commission) announced that three gambling businesses owned by William Hill Group would pay a total financial penalty of £19.2 million for social responsibility and anti-money...more

Goodwin

Horizon Scan for Private Investment Funds: Key Recent and Expected Funds, Regulatory and Tax Developments to Look Out For

Goodwin on

Welcome to our January 2023 Horizon Scan, where we focus on some of the principal recent and expected developments and changes that we expect to be of interest to those in the non-listed funds sector. We have grouped the...more

Latham & Watkins LLP

FCA Business Plan 2021/22: Firms Should Expect a More Assertive FCA

Latham & Watkins LLP on

FCA signals that it aims to take a tougher stance. The FCA published its Business Plan for 2021/22 on 15 July 2021. The Plan, and accompanying remarks made by Nikhil Rathi, FCA CEO, suggest that the FCA intends to take a...more

Akin Gump Strauss Hauer & Feld LLP

EU Countries Issue Temporary Short Selling Restrictions

As a result of the disruption experienced in a number of markets, the UK Financial Conduct Authority (FCA), the Italian securities regulator (Commissione Nazionale per le Società e la Borsa (CONSOB)) and the Spanish...more

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