The U.K. Payment Systems Regulator has announced a phase-out of the Phase 1 technical environment that enables certain U.K. payment services providers to provide confirmation of payee services. The PSR's Specific Direction...more
The U.K. Financial Conduct Authority has appointed Richard Lloyd OBE as its interim Chair of the FCA. He will assume the position on June 1, 2022 and will continue until a permanent successor for former Chair Charles Randell...more
HM Treasury has released a further consultation under the Future Regulatory Framework Review concerning the regulation of central counterparties and central securities depositories. The Future Regulatory Framework Review is...more
2/17/2022
/ Bank of England ,
Banking Sector ,
CCPs ,
Client Services Director (CSD) ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Markets ,
HM Treasury ,
Investment Adviser ,
Prudential Regulation Authority (PRA) ,
UK ,
UK Brexit
Striking a balance between investor protection and market development -
The U.K. is assessing its financial promotion framework, and changes are being made or proposed to amend the laws and rules. Financial promotions are...more
2/11/2022
/ Banking Sector ,
Banks ,
Cryptoassets ,
Financial Adviser ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
HM Treasury ,
Investors ,
Sustainable Finance ,
UK
The European Banking Authority has published final draft Implementing Technical Standards on Pillar 3 prudential disclosures of environmental, social and governance risks under the EU Capital Requirements Regulation. The ITS...more
The U.K. Financial Conduct Authority's new rules permitting legacy use of certain synthetic sterling and yen LIBOR settings enter into force today. The FCA has published its final notice confirming that ICE Benchmark...more
The U.K. Financial Conduct Authority has confirmed that the use of certain synthetic sterling and yen LIBOR settings will be permitted until the end of 2022 for legacy LIBOR-referencing contracts, other than cleared...more
The U.K. Financial Conduct Authority has published a policy statement setting out its new approach to issuing statutory notices, which will take effect from November 26, 2021. The FCA publishes statutory notices when...more
The Law Commission has concluded that the existing law of England and Wales can accommodate smart contracts and there is no need for legislative reform. It has published advice to the U.K. Government and a separate summary of...more
The U.K. Financial Conduct Authority has published an environmental, social and governance strategy to support the financial sector in the transition to a "net zero", more sustainable and more inclusive economy....more
The U.K. Financial Conduct Authority has published a discussion paper on its proposed Sustainability Disclosure Requirements and sustainable investment labels. The FCA is seeking initial views on these proposals with the...more
The FCA has published a series of measures and regulatory guidance on how financial services firms should deal with the coronavirus (COVID-19) pandemic. In our previous client notes, “Planning in a Time of Pandemic:...more
4/1/2020
/ Banking Sector ,
Consultation ,
Coronavirus/COVID-19 ,
EU ,
European Commission ,
Financial Institutions ,
Financial Planning ,
Financial Services Industry ,
Payment Systems ,
Relief Measures ,
Short Sales ,
telephone-recording ,
UK ,
UK Payment Systems Regulator
The Bank of England (BOE) has announced a series of policy measures designed to help U.K. financial market participants deal with the effects of the coronavirus (COVID-19) pandemic. The latest measures, announced on 20 March...more