On 30 October 2023, HM Treasury (HMT) published a response (the Response) to its February 2023 consultation and call for evidence on its proposals for the future financial services regulatory framework for cryptoassets used...more
On 6 November 2023, the Bank of England (BoE) published a discussion paper on the “Regulatory Regime for Systemic Payment Systems Using Stablecoins and Related Service Providers” (the Discussion Paper). The Discussion Paper...more
On 30 October 2023, HM Treasury (HMT) published a response to its May 2022 consultation (the Consultation) on its approach to managing the failure of systemic digital asset (including stablecoin) firms (the Response)....more
On 2 November 2023, the Financial Conduct Authority (FCA) published finalised non-handbook guidance on cryptoasset financial promotions in the United Kingdom (FG23/3) together with a press release (Press Release) to further...more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
On 24 October 2023, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) (together, the Regulators) published their joint policy statement (Policy Statement) to remove the existing limits on the...more
A large US Bank with operations in the UK (Bank) recently won a widely discussed case in the UK's Employment Tribunal after a senior analyst (Employee) sued the Bank for unfairly dismissing him over an expense form relating...more
UK Financial Insights from Katten is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds in the UK and Europe....more
On 25 October 2023, the FCA published a statement (Statement) warning about common issues with cryptoasset marketing in the UK.
The FCA has been supervising firms’ compliance with its new cryptoasset financial...more
Katten ESG Guidepost is a monthly publication highlighting the latest news, legal and regulatory developments involving environmental, social and governance matters....more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
10/24/2023
/ CFTC ,
Corporate Transparency Act ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Diversity and Inclusion Standards (D&I) ,
Enforcement Actions ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
FinCEN ,
Securities and Exchange Commission (SEC) ,
UK
The Financial Conduct Authority (“FCA”) and Prudential Regulation Authority (“PRA”) have recently published consultation papers on a package of measures to promote diversity and inclusion (“D&I”) in the UK financial sector...more
On 6 October 2023, the Financial Conduct Authority (“FCA”) updated its anti-money laundering (“AML”) and counter terrorist financing (“CTF”) regime webpage (“Webpage”) with useful feedback on good and poor quality...more
UK Financial Insights from Katten is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds in the UK and Europe....more
Katten ESG Guidepost is a monthly publication highlighting the latest news, legal and regulatory developments involving environmental, social and governance matters....more
On 21 September 2023, the Financial Conduct Authority (“FCA”) published a letter (“Letter”) setting out a “final warning” to cryptoasset firms marketing to UK consumers, and those supporting them, to get ready for the...more
The FCA has published a policy statement (“PS23/13”) on introducing a “gateway” for firms that approve the financial promotions of unauthorised firms. PS23/13 supports amendments made to the Financial Services and Markets Act...more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
9/18/2023
/ Biden Administration ,
Bitcoin ,
Blockchain ,
China ,
Cryptoassets ,
Environmental Social & Governance (ESG) ,
False Claims Act (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Services Industry ,
Fund Managers ,
Loans ,
Non-Fungible Tokens (NFTs) ,
Securities ,
Securities and Exchange Commission (SEC) ,
UK ,
UK Brexit
On 7 September 2023, the Financial Conduct Authority (“FCA”) published a letter (“Letter”) setting out its findings from meetings with various cryptoasset businesses (“CBs”), and additional actions it is taking to support CBs...more
UK Financial Insights from Katten is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds in the UK and Europe....more
8/22/2023
/ Cryptoassets ,
Cryptocurrency ,
Data Privacy ,
DTCC ,
EU-US Privacy Shield ,
European Commission ,
Financial Conduct Authority (FCA) ,
HM Treasury ,
Human Rights ,
Supply Chain ,
Transparency ,
UK
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
The Financial Conduct Authority (FCA) has published a statement (Statement) on its expectations for UK cryptoasset businesses (CBs) complying with the Travel Rule (as defined below).
From 1 September 2023, CBs will be...more
On 27 July 2023, Depository Trust & Clearing Corporation (“DTCC”) announced its decision to exit the Global Markets Entity Identifier (“GMEI”) business by 22 August 2023. Through its GMEI business, DTCC issued Legal Entity...more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
7/28/2023
/ CFTC ,
Cybersecurity ,
Data Privacy ,
Digital Currency ,
EU-US Privacy Shield ,
European Commission ,
Executive Compensation ,
Financial Conduct Authority (FCA) ,
HM Treasury ,
Proxy Voting Guidelines ,
Securities and Exchange Commission (SEC) ,
UK
Katten ESG Guidepost is a monthly publication highlighting the latest news, legal and regulatory developments involving environmental, social and governance matters....more
7/19/2023
/ Acquisitions ,
Affirmative Action ,
Cryptocurrency ,
Diversity and Inclusion Standards (D&I) ,
Employer Liability Issues ,
Employment Policies ,
Energy Tax Incentives ,
Environmental Social & Governance (ESG) ,
EU ,
Greenwashing ,
Inflation Reduction Act (IRA) ,
Mergers ,
SCOTUS ,
Students for Fair Admissions v Harvard College ,
Students for Fair Admissions v University of North Carolina ,
Supply Chain ,
Sustainability ,
UK