The U.K. Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) recently launched a joint consultation on proposed amendments to the margin requirements for non-centrally cleared derivatives.1...more
The PRA has published its final policy on the requirements for non-systemic UK banks and building societies to prepare for a solvent exit. The new rules require all firms in scope to prepare for an orderly solvent exit as...more
The Financial Services and Markets Bill creates a Designated Activities Regime that will impact both authorised and unregulated firms. The Designated Activities Regime is intended to maintain the purview of the Financial...more
On 20 July 2022, just before the UK Parliament’s summer recess, the long awaited Financial Services and Markets Bill (FSM Bill) was introduced to Parliament....more
Certain UK incorporated holding companies of banks and investments firms will, for the first time, be required to obtain PRA authorisation in 2021. The required applications for authorisation are detailed and will require...more