The global digital landscape continues to rapidly transform and bring forth innovative financial instruments and technologies, including within the shifting regulatory frameworks that have shaped the digital asset ecosystem...more
The European Securities and Markets Authority (ESMA) recently published its first formal guidance on the use of artificial intelligence (AI) in the provision of retail investment services. The guidance outlines AI’s potential...more
Employers in the United Kingdom’s financial sector are facing several new potential regulatory changes that could shape workplaces for years to come. The latter half of 2023 saw the Financial Regulatory Authority (FCA) and...more
The new UK Financial Conduct Authority (FCA) sustainability disclosure requirements (SDR) and investment labels regime for managers of funds launches in July 2024, with a phased application through to December 2026. The SDR...more
The UK Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) (jointly, the Regulators) are proposing to remove the bonus cap for banks, building societies, and PRA-designated investment firms. The...more
The last few years have thrown many surprises at businesses. Organizations across all sectors have faced inflation, global conflicts, supply chain challenges, a pandemic, and continually changing government policies. In 2023,...more
1/23/2023
/ Automotive Industry ,
Capital Markets ,
Cryptocurrency ,
Energy Sector ,
EU ,
False Claims Act (FCA) ,
FDIC ,
Financial Services Industry ,
FinTech ,
Food and Drug Administration (FDA) ,
Life Sciences ,
Tax Credits
The UK Financial Conduct Authority (FCA) recently published its consultation paper, CP22/20, on the use of Sustainability Disclosure Requirements (SDR) and investment labelling. The consultation paper proposes rules to help...more
Fintech is having a meteoric rise among investors in the emerging tech space, accounting for the second-highest area of investment with $3.8 billion in 2021. Q4 2021 alone saw $824 million across 23 deals, indicating a strong...more
3/9/2022
/ Acquisitions ,
Banking Sector ,
Blockchain ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Digital Assets ,
False Claims Act (FCA) ,
Financial Services Industry ,
FinTech ,
Insurtech ,
Mergers ,
Non-Fungible Tokens (NFTs) ,
Special Purpose Acquisition Companies (SPACs)
New remuneration requirements under the UK investment firm prudential regime apply to Financial Conduct Authority–authorised investment firms’ performance periods beginning on or after 1 January 2022. This LawFlash provides...more
The UK Financial Conduct Authority (FCA) has recently announced that it is considering adding a sixth question on diversity and inclusion (D&I) to its five conduct questions (5CQs). The significance of D&I has long been...more
The Financial Conduct Authority (FCA) has emphasised in recent years that firms should consider nonfinancial misconduct when assessing the fitness and propriety of staff. ...more
The UK Financial Conduct Authority recently published Policy Statement 20/12, which sets out the final rules on the extension of the Senior Managers and Certification Regime implementation deadlines for the certification...more
The UK Financial Conduct Authority recently closed its consultation (CP20/10) to extend the deadline for solo-regulated firms to conduct their first fitness and propriety assessments of certified staff and train all staff on...more
The Financial Stability Board (FSB) published on December 9, 2019, its report on financial institutions’ increasing reliance on third parties to provide cloud computing services (the Report)....more
The European Commission (the Commission) has made sustainable finance an express initiative within its overall plans to strengthen capital markets in the European Union. In July 2018, the Commission sought advice from the...more
Following its consultation earlier this year, the UK Financial Conduct Authority has now published a policy statement setting out its final rules for extending the Senior Managers and Certification Regime to solo-regulated...more
Regulators on both sides of the Atlantic continue to monitor and address cryptoasset and distributed ledger technology activities. We recently posted on the guidance issued by the US Financial Crimes Enforcement Network on...more
8/16/2019
/ Anti-Money Laundering ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptoassets ,
Cryptocurrency ,
Data Privacy ,
Distributed Ledger Technology (DLT) ,
Financial Services Industry ,
FinCEN ,
FinTech ,
Securities and Exchange Commission (SEC) ,
Token Sales ,
UK
In a global environment of heightened regulatory accountability and scrutiny, the Bank of England, Financial Stability Board, and Financial Conduct Authority have signalled their continued interest in promoting the need for...more
We are always looking to identify good forums for keeping abreast of global fintech developments and trends. One such interesting platform was Cross-Border Fintech: Regulation & the Law 2019, held in London on June 6, where...more
Following an assessment by the European Commission (the Commission) of how the European Market Infrastructure Regulation (EMIR) has been working since it entered into force on 16 August 2012 and the phasing in of its various...more
The Financial Conduct Authority (FCA) has recently published its final guidance on statements of responsibilities, responsibilities maps, and its policy statement on the new FCA directory for financial services workers, ahead...more
The proposals pave the way for the integration of environmental, social, and governance considerations into the day-to-day thinking of financial services firms....more
In a report issued by the UK Cryptoassets Taskforce, authorities break down the key concepts of cryptoassets; consider application of the current regulatory perimeter to different cryptoassets; and discuss the impact, risks,...more
The Financial Conduct Authority (FCA) proposed guidance on 11 October 2018 for formulating a Statement of Responsibilities for Senior Managers, ahead of the extension of the Senior Managers and Certification Regime (SMCR) to...more
The Financial Conduct Authority and Prudential Regulation Authority published policy statements on 4 July on the extended Senior Managers and Certification Regime, setting out near final rules for solo-regulated firms and...more