The FCA has recently published the results of its multi-firm review of payments and e-money firms' risk management frameworks and wind-down plans. It once again highlights the need to develop frameworks and plans in-line with...more
Numerous jurisdictions across the globe are developing their own cryptoasset regulatory frameworks—the UK is no exception. Cryptoasset businesses overseas looking to enter the UK market, or to offer services to customers in...more
Key developments of interest over the last month include: a new Bill containing detailed new information and account direct deduction obligations for banks and EMIs being introduced to the UK Parliament; the issuing of a...more
On 16 December 2024, the FCA published a discussion paper (DP24/4) (the “Discussion Paper”) on admissions and disclosures and market abuse regimes for cryptoassets. This is part of a series of publications by the FCA (and the...more
On 26 November 2024, the FCA published a number of communications relating to its approach to developing the future cryptoassets regime for the UK, including a roadmap for the development and introduction of the UK’s...more
The FCA has published its expectations on registered or regulated firms partnering with unregistered cryptoasset firms, which may be illegally promoting to UK consumers....more
Key developments of interest over the last month include: the UK Chancellor of the Exchequer makes her first Mansion House speech and HM Treasury publishes the National Payments Vision, indicating a focus on economic growth...more
At her inaugural Mansion House speech on 14 November 2024, the Chancellor of the Exchequer outlined a number of key policy initiatives for the UK financial services sector. This note sets out the main initiatives, which...more
Over the summer, the UK government announced that it had agreed a new Charter of support measures for mortgage holders with the FCA and the UK's principal mortgage lenders. Resultant changes to the FCA’s mortgages sourcebook...more
9/6/2023
/ Consumer Financial Products ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
Financial Services Industry ,
Loans ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages ,
Securitization Standards ,
Structured Finance ,
UK
HM Treasury has published the response to its July 2022 consultation and call for evidence on payments regulation and the systemic perimeter. HMT proposes the following next steps: extend the scope of the Bank of England’s...more
For many firms, the "price and value" outcome will raise many new issues, and assessing whether a product or service represents fair value will require a wholly new approach....more
With the publication of the final rules there is now only a year to go before firms must comply with their Consumer Duty obligations. The FCA has emphasised that this must be a major cultural shift. While it’s good news that...more
Several high profile systems failures resulting in customers being unable to access their finances and an ever-increasing reliance on outsourcing key activities to group entities or third parties have unsurprisingly caught...more
The FCA published their finalised guidance on the fairness of variation terms in financial services consumer contracts under the Consumer Rights Act 2015 on 19 December 2018....more
Welcome to the Hogan Lovells Global Payments Newsletter. In this monthly publication we provide an overview of the most recent payments, regulatory and market developments from major jurisdictions around the world as well as...more
3/7/2017
/ Agricultural Sector ,
Court of Justice of the European Union (CJEU) ,
EU ,
Farms ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Interchange Fees ,
MasterCard ,
Payment Systems ,
PSD ,
PSD2 ,
RTS ,
SEPA ,
Technology ,
UK
HM Treasury has today published a consultation paper and draft Payment Services Regulations 2017 for a short 6 week consultation period ending on 16 March 2017.
The consultation paper states that the Government aims to...more