In edition 76 of Market Watch, its newsletter on market conduct and transaction reporting issues, the UK’s Financial Conduct Authority ("FCA") has shared its observations and issued some warnings about the risk of harms...more
Following up on a consultation in July 2023 here, the post-Brexit replacement of Regulation (EU) 2017/2402 of the European Parliament and of the Council ("Sec Reg"), the UK Securitisation Regulations 2024 (SI 2024/102) ("SI")...more
Here are some of our key focus items across Europe and the UK as we enter a New Year. There are, of course, others, but these represent the most important themes – a regulatory focus on the non-bank credit market, risk...more
1/15/2024
/ Disclosure Requirements ,
Diversity and Inclusion Standards (D&I) ,
EU ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Regulatory Standards ,
SFDR ,
Sustainable Finance ,
UK
The UK’s Financial Conduct Authority (“FCA”) is consulting on changes to its rules to allow funds domiciled outside the UK to market to UK retail customers....more
The UK’s Financial Conduct Authority ("FCA") has devoted issue 75 of Market Watch (a newsletter on market conduct and transaction reporting issues) to share observations on practices around ‘market soundings’....more
The UK’s Treasury has released an Update on Plans for the Regulation of Fiat-backed Stablecoins. Following up on its January 2021 consultation on the UK regulatory approach to cryptoassets and stablecoins, the government’s...more
The UK’s Financial Conduct Authority and Prudential Regulation Authority have released a joint consultation on new regulatory framework on diversity and inclusion. This article focuses on the FCA’s Consultation Paper CP23/20....more
In June of this year, the UK’s Financial Conduct Authority (“FCA”) introduced rules to allow mortgage lenders to more easily vary contracts in order to allow borrowers to make reduced capital payments or switch to an...more
In Policy Statement 23/4 (PS23/4) on “Improving Equity Secondary Markets,” the UK’s Financial Conduct Authority sets out its final proposed amendments to...more
In Consultation Paper 13/23 (CP 13/23), the UK’s Prudential Regulation Authority (“PRA”) sets out its “Margin requirements for non-centrally cleared derivatives: Amendments to BTS 2016/2251.”...more
Background -
Following closely behind the consultation paper from the Prudential Regulation Authority (“PRA”) (for more discussion see our briefing of 1 August), the UK’s Financial Conduct Authority (“FCA”) has published...more
Alongside work being done internationally on liquidity management by the Financial Stability Board and IOSCO, the UK’s Financial Conduct Authority (“FCA”) has written to the Chief Executives of authorised asset management...more
The UK Government has published its response to a call for evidence for a review of the Short Selling Regulation. The review was initiated as part of the UK’s aim to deliver a “Smarter Regulatory Framework” for financial...more
The UK’s Financial Conduct Authority (“FCA”) has introduced robust new rules for those marketing cryptoassets to UK consumers. In Policy Statement PS23/6, new requirements covering financial promotions for all firms aimed at...more
6/26/2023
/ Consumer Financial Products ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Financial Conduct Authority (FCA) ,
Financial Instruments ,
Financial Regulatory Reform ,
Investment Opportunities ,
Investor Protection ,
Marketing ,
Smart Contracts
The UK’s Financial Conduct Authority (“FCA”) has published Consultation Paper CP23/11 on enhancing the proportionality of the application of rules on remuneration for smaller, dual-regulated firms in relation to the risks...more
The UK’s Prudential Regulation Authority (“PRA“) has published its Business Plan for 2023/23 setting out its strategic priorities and anticipating its new, secondary objective to facilitate international competitiveness and...more
On 3 May, the UK’s Financial Conduct Authority (“FCA“) issued Consultation Paper CP23/10 setting out significant proposals to reform equity listing rules.
There has been a precipitous decline in the number of listed...more
In the context of a year that has seen record levels of volatility, the FCA has set out in its Business Plan for 2023/24 how it plans to tackle regulating firms with a view to delivering on its objectives of: ensuring markets...more
By way of diversion from the current crisis mode of regulators the world over, here we discuss positive regulatory initiatives on bank liquidity, CDS clearing and the development of Long Term Asset Funds.
UK bank...more
Under the Future Regulatory Framework (the legislative structure for a post-Brexit UK regulatory system proposed under the Financial Services and Markets Bill currently before Parliament) the UK’s Financial Conduct Authority...more
In an announcement on 3 March 2023, the UK’s Financial Conduct Authority (“FCA”) confirmed that it has opened an enforcement investigation into the London Metal Exchange’s (“LME”) decision to suspend its nickel market....more
The FCA has warned cryptoasset firms to get ready for new rules controlling their financial promotions that reach UK residents. Regardless of whether they are operating from the UK or from abroad, cryptoasset providers are...more
UK firms manufacturing financial products that reach retail customers are facing a significant deadline this April to conform those products to meet the new consumer duty....more
The transitional period for the implementation of new scope rules and amendments to regulatory technical standards for Packaged Retail and Insurance-based Investment Products (“PRIIPs“) came to an end on 31 December 2022,...more
The UK’s Financial Conduct Authority (“FCA”) and Prudential Regulation Authority (“PRA”) have together fined a leading bank a total of £48,650,000 for IT failures that left customers unable to access their accounts. The fine...more