News & Analysis as of

United Kingdom UK Competition and Markets Authority (CMA) Banking Sector

A&O Shearman

UK Proposes Design of the Future Entity for UK Open Banking

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On April 19, 2024, the U.K.'s Joint Regulatory Oversight Committee published proposals on the design of the future entity for UK Open Banking. The JROC is composed of the Financial Conduct Authority, the Payment Systems...more

Hogan Lovells

UK Open Banking: PSR consultation on variable recurring payments and JROC update on progress

Hogan Lovells on

In the latest developments relating to the UK's open banking landscape, on 18 December 2023 the Payment Systems Regulator (PSR) released a consultation paper outlining plans for expanding variable recurring payments (VRP)...more

Ankura

Digital Banks Lead the Challenge Against Retail Banking Giants

Ankura on

Challenger banks have achieved a great deal of success since they burst on the scene in a big way a decade or so ago to vie with traditional retail banks for a share of the market. The best challengers are consistently...more

Wilson Sonsini Goodrich & Rosati

JROC Publishes Report on Future of Open Banking in the UK

The UK is widely regarded as a global leader in Open Banking, and regulators and industry participants believe there is strong potential to build on that success. Regulatory efforts on that front are led by Joint Regulatory...more

BCLP

Banking Bites - May 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....more

Latham & Watkins LLP

A Path Forward for Open Banking

Latham & Watkins LLP on

As third-party access to consumer financial data expands, regulators balance innovation, customer choice, and data protection. Consumers’ rights to access and use their personal financial information has been a key focus of...more

Morgan Lewis

What Is Open Banking?

Morgan Lewis on

Open Banking is an initiative mandated by the UK’s Competition and Markets Authority (CMA) in 2017. It is intended to facilitate better competition in the banking sector by mandating protocols that facilitate the secure...more

BCLP

How is Open Banking Regulated?

BCLP on

In previous posts in our BankBCLP.com series on this topic, we’ve attempted to define “open banking” and the ways in which it is attracting increasing industry attention through open APIs. As our series continues, we describe...more

A&O Shearman

Financial Regulatory Developments Focus - November 2018 #4

A&O Shearman on

In this week’s newsletter, we provide a snapshot of the principal U.S., European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more

A&O Shearman

Key Regulatory Topics: Weekly Update - 16 February 2018 - 22 February 2018

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BREXIT - AFME FAQs on wholesale financial services contracts - On 19 February, AFME published a set of FAQs on how wholesale financial services contracts might be impacted by Brexit. The FAQs address operational impacts...more

Jones Day

UK Government to Reform M&A Rules to Protect National Security

Jones Day on

The Situation: The UK government is introducing new protectionist measures concerning acquisitions of businesses operating in the United Kingdom. The Impact: The government intends to expand the scope of acquisition...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

On August 21, 2017, the European Commission published the text of a Delegated Regulation that amends the Capital Requirements Regulation (Regulation 573/2013) ("CRR"). The main amendment pertains to Article 496(1) of the CRR....more

Hogan Lovells

Expect the Unexpected: The Year Ahead for the Financial Institutions Sector

Hogan Lovells on

With contributors across the sector and the globe, we've compiled a review of some of the developments that will affect financial institutions in 2017 and beyond. The one thing that 2016 taught us was to expect the...more

K&L Gates LLP

FCA’S Response to CMA’S Recommendations on Retail Banking

K&L Gates LLP on

Originally published in Practical Law, November 2016. On 3 November 2016, the FCA published its response to recommendations proposed by the Competition and Markets Authority (CMA) in its final report into the...more

A&O Shearman

Steps Taken to Implement the Remedies Emerging from the UK's Retail Banking Market Investigation 

A&O Shearman on

The UK's Competition & Markets Authority published proposals for the implementation of certain remedies to counter the adverse effects on competition which were identified in the CMA's final report on the retail banking...more

BCLP

EU & Competition Law Update – August 2016

BCLP on

EU: Regulatory Scrutiny of Online Hotel Booking Continues - The 13 July 2016 saw the Competition and Markets Authority (CMA) announce that it had sent a questionnaire to a large sample of hotels throughout the UK. As...more

A&O Shearman

UK Competition and Markets Authority Consults on Proposals to Reform Retail Banking

A&O Shearman on

The Competition and Markets Authority published a provisional decision on market issues regarding personal current accounts and retail banking services for small-and medium-sized enterprises. The decision is part of the CMA’s...more

Bryan Cave Leighton Paisner

EU & Competition Law Update - March 2016

Welcome to March's edition of our EU & Competition Law Bulletin covering recent legal developments impacting upon you and your business: - ..United Kindgdom: Large pay for delay fine imposed by CMA. ..Germany and...more

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