On 7 December 2021, the FCA published a second consultation paper (CP21/36) on the proposed "Consumer Duty" (the "Second Consultation"). The FCA's first consultation on this topic (CP21/13) was published in May 2021 and...more
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. ...more
1/6/2022
/ Alternative Investment Fund Managers Directive (AIFMD) ,
AML/CFT ,
Central Counterparties ,
CSDR ,
Environmental Social & Governance (ESG) ,
EU ,
European Banking Authority (EBA) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Financial Services Industry ,
MiFID ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Prudential Regulation Authority (PRA) ,
SMCR ,
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
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
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more
7/7/2021
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Capital Markets ,
European Banking Authority (EBA) ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Fund Managers ,
HM Treasury ,
MiFID II ,
Prudential Regulation Authority (PRA) ,
UK
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. ...more
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. ...more
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 November -
The Prudential Regulation Authority (“PRA”) published a statement about its forthcoming policy statement on implementing the CRD V Directive ((EU) 2019/878).
HM Treasury updated its webpage on a call for...more
12/7/2020
/ Bank of England ,
Capital Markets ,
Capital Markets Union ,
Capital Requirements Regulation (CRR) ,
Commission Delegated Regulation ,
EMIR ,
Environmental Social & Governance (ESG) ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Financial Services Industry ,
Financial Stability Board ,
HM Treasury ,
MiFID II ,
MiFIR ,
Prudential Regulation Authority (PRA) ,
UK
29 October -
The Financial Conduct Authority (“FCA”) updated its webpage on its responsibilities to mutual societies and its webpage on mutual societies’ annual returns and accounts.
The FCA published a press release...more
11/4/2020
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Consultation Papers ,
Dear CEO Letter ,
EU ,
European Banking Authority (EBA) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Financial Stability Board ,
FinCEN ,
HM Treasury ,
MiFID II ,
MiFIR ,
Prudential Regulation Authority (PRA)
29 September -
The Financial Conduct Authority (“FCA”) published its perimeter report 2019/20, which provides an update on the issues raised in its 2018/19 report.
A European Commission notice (2020/C 321/01) relating...more
10/7/2020
/ Banking Sector ,
Consultation Papers ,
EU ,
European Securities and Markets Authority (ESMA) ,
European Supervisory Authorities (ESAs) ,
FATF ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
Libor ,
MiFID II ,
MiFIR ,
Prudential Regulation Authority (PRA) ,
Sterling Overnight Index Average (SONIA) ,
UK
30 July -
The Financial Conduct Authority (“FCA”) updated its webpage on the High Court business interruption insurance test case.
The Prudential Regulation Authority (“PRA”) published a consultation paper (CP11/20)...more
8/7/2020
/ Annual Reports ,
Anti-Corruption ,
Bank of England ,
Consultation Papers ,
EIOPA ,
EU ,
European Banking Authority (EBA) ,
European Central Bank ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Financial Services Industry ,
HM Treasury ,
HMRC ,
Libor ,
MiFID II ,
MiFIR ,
Policy Statement ,
Prudential Regulation Authority (PRA)
30 June -
The Financial Conduct Authority (“FCA”) announced that the deadline for solo-regulated firms to have undertaken the first assessment of the fitness and propriety of their Certified Persons will be delayed from 9...more
7/6/2020
/ Banking Sector ,
Business Interruption ,
EU ,
European Banking Authority (EBA) ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
HM Treasury ,
IOSCO ,
MiFID II ,
Prudential Regulation Authority (PRA)
On 23 June 2020, the UK Financial Conduct Authority (“FCA”) published a discussion paper (“DP 20/2”) in relation to a new UK prudential regime for investment firms authorised under the Markets in Financial Instruments...more
27 May -
The Financial Conduct Authority (“FCA”) published a new webpage that explains that it is allowing firms to defer individuals' uncompleted continuing professional development (“CPD”) hours to the next CPD year in...more
Given the current impact of COVID-19 on the financial services industry, please tune in to our podcast discussion on the key considerations that businesses should be aware of while facing potential insolvency and other...more
5/5/2020
/ Banking Sector ,
Business Interruption ,
Coronavirus/COVID-19 ,
Equity Financing ,
EU ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
MiFID II ,
Prudential Regulation Authority (PRA) ,
UK Brexit
2 March -
The European Banking Authority ("EBA") published a report assessing the Pillar 3 disclosures made by 12 systemically important credit institutions based on an end-2018 disclosure reference date.
HM Treasury...more
Key developments in January 2020:
6 January -
The Financial Conduct Authority ("FCA") published a letter, sent to the CEOs of wholesale general insurance (GI) firms, setting out its expectations for them to be...more
2/10/2020
/ Consultation Papers ,
Corporate Culture ,
Dear CEO Letter ,
European Banking Authority (EBA) ,
European Securities and Markets Authority (ESMA) ,
False Claims Act (FCA) ,
Financial Services Industry ,
HM Treasury ,
MLD5 ,
Policy Statement ,
Prudential Regulation Authority (PRA) ,
UK Brexit
2 December -
The Financial Conduct Authority ("FCA") updated the following webpages:
- webpage on its July 2018 discussion paper on price discrimination in the cash savings market (PD18/6); and
- webpage on its...more
1/8/2020
/ AML/CFT ,
Consultation Papers ,
Credit Rating Agencies ,
EMIR ,
EU ,
European Banking Authority (EBA) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Financial Stability Board ,
Investment Firms ,
MiFID II
1 August -
The Financial Conduct Authority ("FCA") published an insight article on artificial intelligence ("AI") in the boardroom. The article considers various AI-related issues in the boardroom....more
1 July -
The Financial Conduct Authority ("FCA") published a policy statement (PS19/19) setting out the final 2019/20 regulatory fees and levies.
The European Insurance and Occupational Pensions Authority ("EIOPA")...more
8/5/2019
/ Banking Sector ,
Banks ,
Capital Markets ,
EIOPA ,
EU ,
European Banking Authority (EBA) ,
European Central Bank ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Financial Services Industry ,
FSMA ,
Prudential Regulation Authority (PRA)
1 June -
HM Treasury published a consultation paper (dated May 2019) on the regulation of pre-paid funeral plans. HM Treasury intends to bring all funeral plan providers within the remit of the FCA....more
7/3/2019
/ Derivatives ,
EIOPA ,
European Banking Authority (EBA) ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Financial Stability Board ,
HM Treasury ,
IOSCO ,
MiFID II ,
MiFIR
1 April -
The Financial Conduct Authority ("FCA") published a statement announcing that it is commissioning an investigation by an independent person into the issues raised by the failure of London Capital & Finance....more
5/2/2019
/ EU ,
European Banking Authority (EBA) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Financial Services Industry ,
Financial Stability Board ,
MiFID II ,
Prudential Regulation Authority (PRA) ,
UK ,
UK Competition and Markets Authority (CMA)
1 February -
The Financial Conduct Authority ("FCA") published a press release announcing that it has agreed with the European Securities and Markets Authority ("ESMA") and other European Union securities regulators...more
3/5/2019
/ Data Protection ,
EIOPA ,
EU ,
European Securities and Markets Authority (ESMA) ,
EuSEF ,
EuVECA ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Libor ,
MiFID II ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
UK ,
UK Brexit