Orrick's Founder Series offers monthly top tips for UK startups on key considerations at each stage of their lifecycle, from incorporating a company through to possible exit strategies. The Series is written by members of our...more
On 13 April 2023, the Prudential Regulation Authority (“PRA”) fined Mr Carlos Abarca, the former Chief Information Officer of TSB Bank plc (“TSB”) £81,620 for breaching PRA Senior Manager Conduct Rule 2. The PRA found that he...more
On 10 November 2022, the European Parliament approved two significant pieces of cybersecurity legislation: The Network and Information Security 2 Directive (“NIS2”); and The Digital Operational Resilience Act (“DORA”)....more
On the 6 December 2022, the Financial Conduct Authority ("FCA") published its consultation on a financial promotion approvals gateway. The consultation paper (CP22/27) considers how the gateway will operate, including how the...more
Exactly six years following the UK voting in a referendum to leave the EU, the House of Lords European Affairs Committee (“Committee”), on 23 June, published a report on the relationship between the UK-EU in financial...more
HM Treasury has now (20 June 2022) published its response document to its consultation paper on regulating interest-free buy-now-pay-later (“BNPL”) credit products. By way of background, the government announced last year...more
The turn of a new year has brought new UK regulatory developments that have the potential to significantly impact financial services and other financially regulated businesses. This update highlights the key changes in the UK...more