One could be forgiven, amidst the noise and glamour of the Leeds Reforms and the Mansion House speech, for having missed the snappily titled Financial Services and Markets Act 2000 (Regulated Activities etc.) (Amendment)...more
7/23/2025
/ Buy Now Pay Later (BNPL) ,
Compliance ,
Consumer Protection Laws ,
Disclosure Requirements ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
FinTech ,
Lenders ,
New Regulations ,
Payment Systems ,
Proposed Rules ,
Regulatory Requirements
KEY POINTS -
- Virtual International Bank Account Numbers (vIBANs or virtual IBANs) are identifiers formally linked to a master bank account and informally associated with other accounts or relationships. They are...more
On June 18, 2025, the Council of the European Union (EU) took a significant step forward in modernising the EU’s payment services framework by formally agreeing on its negotiating mandate for the Payment Services Directive 3...more
In an exciting week for consumer credit lawyers, in addition to the consultation paper on the reform of the Consumer Credit Act 1974 (CCA), we also have HM Treasury’s response to the feedback it received from the 61...more
On February 13, 2025, Australia passed legislation implementing its Scams Prevention Framework (SPF) aimed at protecting Australian consumers from scams. The design of the SPF was informed by a previous consultation which ran...more
In this edition of our "MiCAR under the microscope" series, we examine the prudential requirements, with a specific focus on the capital requirements that are applicable to issuers of ARTs and EMTS and CASPs under Regulation...more
The UK Government has announced the abolition of the Payment Systems Regulator (PSR), with a view to driving economic growth and reducing the burdens on business.
The practical impact on firms is yet to be seen, and the...more
The new Regulation (EU) 2024/886 on instant credit transfers in euros (IPR), amending the so-called SEPA Regulation, is here, and it’s time to gear up! Effective from April 8, 2024, the first set of obligations kicks in on...more
1/15/2025
/ Anti-Money Laundering ,
Banking Sector ,
Compliance ,
Economic Sanctions ,
EU ,
Eurozone ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Payment Systems ,
Regulatory Agenda ,
Regulatory Requirements
The UK’s Authorised Push Payment (APP) Fraud Reimbursement Scheme came into force on October 7, 2024. It requires in-scope payment service providers (PSPs) sending payments through either the Faster Payment System (FPS) or...more
The UK’s Authorised Push Payment (APP) Fraud Reimbursement Scheme came into force on October 7, 2024. It requires in-scope payment service providers (PSPs) sending payments through either the Faster Payment System (FPS) or...more
In order to increase the use of instant credit transfers in euros at Union level, the EU legislators have amended Regulation (EU) No 260/2012 establishing technical and business requirements for credit transfers and direct...more
The Regulation (EU) 2023/1114 on Markets in Crypto-assets (MiCAR) has further expanded the panel of regulated entities by introducing the regulatory status of Issuers of Asset Reference Tokens (ART Issuers) and crypto-asset...more
12/12/2024
/ Acquisitions ,
Asset Tokens ,
Cryptocurrency ,
Digital Assets ,
EU ,
Financial Regulatory Reform ,
Financial Services Industry ,
Regulatory Agenda ,
Taxonomy ,
Technology ,
UK ,
UK Cryptoassets Taskforce
On October 24, 2024, the Monetary Authority of Singapore (MAS) and the Infocomm Media Development Authority (IMDA) jointly announced the implementation of the Shared Responsibility Framework (SRF) in relation to phishing...more
11/15/2024
/ Consultation Papers ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Fraud ,
Mobile Payments ,
Monetary Authority of Singapore ,
New Guidance ,
Phishing Scams ,
Scams ,
Singapore ,
Telecommunications
It has been a long time in gestation but finally, over three and a half years after the Woolard Review highlighted the potential risks of unregulated, but easily available, interest free credit facilities, we have the...more
On 1 September 2024, the Qatar Financial Centre (QFC), Qatar’s onshore business and financial centre, published its new Digital Asset Regulations 2024 and accompanying laws, rules and guidelines (the DA Regime). The DA...more
On 4 July 2024, the European Banking Authority (EBA) published new guidelines on information requirements in relation to transfers of funds and certain cryptoasset transfers under Regulation (EU) 2023/1113 (the recast,...more
On 4 July 2024, the European Securities and Markets Authority (ESMA) published its second package of final draft technical standards under the Markets in Cryptoassets Regulation (MiCAR), including six draft regulatory...more
On 25 October 2023, the Monetary Authority of Singapore (MAS) and the Infocomm Media Development Authority (IMDA) jointly published a consultation paper on a proposed Shared Responsibility Framework (SRF) in relation to...more
The Regulation (EU) 2023/1114 on Markets in Crypto-assets (MiCAR) has further expanded the panel of regulated entities by introducing the regulatory status of crypto-asset service providers (CASPs)....more
6/17/2024
/ Corporate Governance ,
Cryptoassets ,
Disclosure Requirements ,
EU ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Fund Managers ,
Investment Management ,
Regulatory Agenda ,
Regulatory Requirements
On 30 November 2023, the Treasury of the Australian Government released its consultation paper on a proposed Scams Code Framework (the Framework) which seeks to establish robust codes and targeted measures to reduce scam...more
To avoid potential risks to investor protection, as well as to financial stability within the European single market, the Regulation on Markets in Crypto-assets (MiCAR) is about to introduce a harmonised and dedicated set of...more
In our annual financial services Horizon Scanning webinar, our regulatory team provided an overview of upcoming and expected changes for UK firms.
Partners from our UK team considered regulatory updates on the horizon for...more
The huge expansion of crypto-assets over recent years and the popularity of their underlying technology (distributed ledger technology (DLT) or blockchain) have come with their share of challenges, including a significant...more
12/15/2023
/ Blockchain ,
Cryptoassets ,
Cryptocurrency ,
Distributed Ledger Technology (DLT) ,
EU ,
Financial Markets ,
Financial Regulatory Reform ,
Regulatory Agenda ,
Stablecoins ,
UK ,
Virtual Currency
The Regulation on Markets in Crypto-assets (MiCAR) seeks to regulate a broad range of crypto-related products and services that do not currently fall within the scope of existing EU financial services legislation. It does not...more
The European Commission has chosen the path of regulation for crypto-assets. This is with the aim of supporting innovation and fair competition, and ensuring a high level of consumer and investor protection and market...more