On 7 October 2024, the FCA issued a “Dear CEO letter” (“Letter”) to firms whose primary business is financial advice or investment intermediation. The Letter contains a summary of the FCA’s priorities and expectations of...more
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more
9/4/2024
/ Disclosure Requirements ,
Enforcement ,
Environmental Social & Governance (ESG) ,
EU ,
European Banking Authority (EBA) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Transparency ,
UK
On 17 July 2024, the King of the United Kingdom delivered a speech to mark the opening of a new UK Parliament (the “Speech”). The Speech set out the new UK Government’s priorities, following their election victory. This...more
On 15 July 2024, the UK’s Payments Systems Regulator (“PSR”) and the Financial Conduct Authority (“FCA”) launched a joint call for information concerning the role and impact of big tech digital wallets (the “Inquiry”)....more
Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation.
Key developments in June 2024:
28 June
PRIIPs Regulation: The Joint Committee...more
7/5/2024
/ AML/CFT ,
Anti-Money Laundering ,
Cryptoassets ,
Environmental Social & Governance (ESG) ,
EU ,
European Banking Authority (EBA) ,
European Supervisory Authorities (ESAs) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Reform ,
New Regulations ,
Proposed Regulation ,
Regulatory Agenda ,
UK
Financial Markets Infrastructure: The Bank of England published a speech by Sasha Mills, Executive Director, Financial Market Infrastructure, on operational resilience and its expectations of financial market infrastructures...more
5/9/2024
/ Artificial Intelligence ,
Cryptoassets ,
ELTIF ,
EMIR ,
Environmental Social & Governance (ESG) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Crimes ,
Financial Markets ,
Infrastructure ,
Investment ,
IOSCO ,
MiFID II ,
Private Equity ,
Regulatory Agenda ,
UK
For funds categorised as Article 8 or 9 under the Sustainable Finance Disclosure Regulation (“SFDR”) with a 31 December financial year end, the periodic reporting deadline of 30 June is approaching with 100 days to go. Now...more
As set out in our Proskauer Special Report “Primarily Non-financial corporate reporting for U.S. companies – where to start?”, it may be complex to determine the applicability of the EU’s Corporate Sustainability Reporting...more
Following the turn of the new year, our UK Regulatory specialists have examined the key regulatory developments in 2024 impacting a range of UK and European firms within the financial services sector. The key dates have been...more
2/8/2024
/ Acquisitions ,
Capital Markets ,
EU ,
Financial Institutions ,
Financial Services Industry ,
Investment Funds ,
Investment Opportunities ,
Mergers ,
Private Equity ,
Regulatory Agenda ,
Regulatory Requirements
Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation.
...more
12/5/2023
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Artificial Intelligence ,
Basel Committee on Banking Supervision (BCBS) ,
Capital Requirements Regulation (CRR) ,
Cryptoassets ,
EMIR ,
Environmental Social & Governance (ESG) ,
European Banking Authority (EBA) ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Greenwashing ,
Infrastructure ,
Investment Firms ,
MiFID ,
MiFID II ,
Over The Counter Derivatives (OTC) ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Regulatory Agenda ,
Short Selling ,
Tokenization ,
UCITS ,
UK
31 March -
SFTR: The European Securities and Markets Authority (“ESMA”) published an updated version of its Q&As (ESMA74-362-893) on complying with reporting requirements under the Regulation on reporting and transparency...more
4/10/2023
/ Amended Regulation ,
AML/CFT ,
Banking Sector ,
Basel Committee on Banking Supervision (BCBS) ,
Capital Markets ,
Cryptoassets ,
Distributed Ledger Technology (DLT) ,
EMIR ,
Environmental Social & Governance (ESG) ,
EU ,
EU Benchmark Regulation ,
European Banking Authority (EBA) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
Financial Services Industry ,
MiFIR ,
Regulatory Agenda ,
Short Selling ,
UK
Background On 20 February 2023, the United Kingdom’s Financial Conduct Authority (“FCA”) published a discussion paper (DP23/2) on updating and improving the UK regime for asset management (the “Discussion Paper”).
As part...more
3/6/2023
/ Asset Management ,
Discussion Draft ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Investment ,
Investors ,
Legislative Agendas ,
Regulatory Agenda ,
UK ,
UK Brexit
Key developments in June 2022:
30 June -
The Financial Conduct Authority (“FCA”) published a consultation paper (CP22/11) on winding down synthetic sterling LIBOR and USD LIBOR.
The Bank of England (“BoE”)...more
7/6/2022
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Blockchain ,
Distributed Ledger Technology (DLT) ,
Environmental Social & Governance (ESG) ,
EU ,
European Banking Authority (EBA) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Financial Regulatory Reform ,
Financial Services Industry ,
Regulatory Agenda ,
Taxonomy
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation.
Key developments in May 2022:
31 May -
Key developments in May 2022: The European...more
6/13/2022
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Bank of England ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Regulatory Agenda ,
SFDR ,
UCITS ,
UK
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation.
Key developments in March 2022:
31 March -
The European Securities and...more
4/8/2022
/ Cryptoassets ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Financial Services Industry ,
MiFID II ,
MiFIR ,
Private Equity ,
Regulatory Agenda ,
Regulatory Reform ,
Taxonomy ,
UK
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. ...more
2/3/2022
/ Bank Recovery and Resolution Directive (BRRD) ,
Cryptoassets ,
EU ,
EU Market Abuse Regulation (EU MAR) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Financial Services Industry ,
Investment ,
MiFID II ,
Money Laundering ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Regulatory Agenda ,
Structured Financial Products ,
UCITS ,
UK ,
UK Brexit
Following the turn of the new year, our UK Regulatory specialists have examined the key regulatory developments in 2022 impacting a range of UK and European firms within the financial services sector. The key dates have been...more
1/20/2022
/ Alternative Investment Fund Managers Directive (AIFMD) ,
ELTIF ,
Environmental Social & Governance (ESG) ,
EU ,
EuSEF ,
EuVECA ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
Investment Firms ,
MiFID II ,
Money Laundering ,
Prudential Standards ,
Regulatory Agenda ,
SFDR ,
Sustainable Finance
The European Securities and Markets Authority (“ESMA”) published a corrigendum from the European Commission to a set of answers on the application of the EU Sustainable Finance Disclosure Regulation (EU/2019/2088) (“SFDR”)....more
12/6/2021
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Environmental Social & Governance (ESG) ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Financial Services Industry ,
Investment ,
MiFID II ,
MiFIR ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
SFDR ,
UK
On 25 November 2021, the European Commission (the “Commission”) published a legislative proposal with targeted amendments to Directive 2011/61/EU (“the “AIFMD”) and (to a certain extent) the UCITS Directive (“AIFMD...more
11/29/2021
/ AIFM ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Asset Management ,
Capital Markets ,
Capital Markets Union ,
EU ,
Investment Funds ,
National Private Placement Regimes (NPPR) ,
Proposed Legislation ,
Regulatory Agenda ,
UCITS
The Financial Stability Board published its final report on the lessons learnt from the COVID-19 pandemic from a financial stability perspective. The Financial Conduct Authority (“FCA”) published a report on climate change...more
11/4/2021
/ Beneficial Owner ,
Climate Change ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
FATF ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Financial Services Industry ,
FSB ,
Green Finance ,
Policy Statement ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
SFTR ,
UK
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. ...more
10/6/2021
/ EU ,
European Securities and Markets Authority (ESMA) ,
European Supervisory Authorities (ESAs) ,
Financial Conduct Authority (FCA) ,
Financial Crimes ,
Financial Services Industry ,
FSB ,
MiFID II ,
MiFIR ,
Money Laundering ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Payment Systems Regulator (PSR) ,
Policy Statement ,
Prudential Regulation Authority (PRA) ,
Regulation Technical Standards (RTS) ,
Regulatory Agenda ,
UK
What is the IFPR?
The new UK Investment Firms Prudential Regime (“IFPR”) will come into force on 1 January 2022 and will apply to UK investment firms authorised under the Markets in Financial Instruments Directive (“MiFID”)...more
10/1/2021
/ Capital Requirements ,
Financial Services Industry ,
Investment ,
Investment Firms ,
MiFID ,
Policy Statement ,
Regulatory Agenda ,
Regulatory Requirements ,
Remuneration ,
Risk Management ,
Rulemaking Process ,
UK
The Basel Committee on Banking Supervision (“BCBS”) published a report jointly with the World Bank setting out the findings from a global survey on proportionality in banking regulation and supervision....more
8/3/2021
/ Banks ,
Basel Committee on Banking Supervision (BCBS) ,
Benchmarks ,
Capital Requirements Regulation (CRR) ,
CRD IV Directive ,
European Banking Authority (EBA) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Financial Services Industry ,
Investment Firms ,
MiFID II ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Regulatory Requirements ,
SFDR ,
Supervisory Highlights ,
UCITS ,
UK
Following the turn of the new year, our UK Regulatory specialists have examined the key regulatory developments in 2021 impacting a range of UK and European firms within the financial services sector. The key dates have been...more
30 April -
BEIS published a consultation paper seeking views on proposals to reform the laws relating to all UK limited partnerships. The key proposals are:
- a requirement for all presenters to be registered with an...more
6/1/2018
/ Amended Legislation ,
Anti-Money Laundering ,
BEIS ,
EIOPA ,
European Central Bank ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Reporting ,
Financial Services Industry ,
General Data Protection Regulation (GDPR) ,
ISDA ,
Legislative Agendas ,
Limited Liability Company (LLC) ,
Principal Place of Business ,
Regulatory Agenda ,
Reporting Requirements ,
UK