It’s just under three weeks until consumer credit firms must start using the FCA’s updated consumer credit information sheets which were published in May this year.
In May 2021, the FCA updated its webpage on consumer...more
United Kingdom: Financial Services Act 2021 becomes law -
On 29 April 2021, the Financial Services Bill 2019-21 received Royal Assent. In a press release, HM Treasury described the Financial Services Act 2021 (the Act) as...more
5/26/2021
/ Bank of England ,
Banking Sector ,
Central Bank Digital Currency (CBDCs) ,
Cryptoassets ,
Cryptocurrency ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
HM Treasury ,
Turkey ,
UK
The FCA’s long-awaited feedback statement on open finance has been published. Findings from December 2019’s call for input suggest that, although there is a place for a regulatory framework to set outcomes, the best way...more
Regulatory Developments -
United Kingdom: Kalifa Review of UK FinTech published -
On 26 February 2021, HM Treasury published the Kalifa Review of UK FinTech, identifying priority areas to support the UK’s fintech sector. The...more
3/25/2021
/ Banks ,
Competition ,
Data Protection ,
Digital Currency ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
Foreign Exchanges ,
FSB ,
Mobile Payments ,
Popular ,
Regulatory Agenda ,
UK
Barely a month since the end of the post-Brexit transition period, the FCA is consulting on changes to the onshored SCA-RTS and to the guidance in its Payment Services and E-Money Approach Document (and PERG). ...more
Key developments of interest over the last month include:
United Kingdom: HM Treasury is consulting on proposed insolvency changes for payment institutions and electronic money institutions, including a bespoke special...more
The FCA has published a consultation on changes to its Handbook resulting from the Debt Respite Scheme (Breathing Space Moratorium and Mental Health Crisis Moratorium) (England and Wales) Regulations 2020 (the Regulations)...more
Key developments of interest over the last month include:
United Kingdom: The Payment Systems Regulator has published its interim report on its market review into the supply of card-acquiring services.
...more
9/25/2020
/ AML/CFT ,
Coronavirus/COVID-19 ,
Digital Assets ,
FATF ,
Financial Conduct Authority (FCA) ,
FinTech ,
Infectious Diseases ,
Infrastructure ,
Payment Systems ,
Payment Systems Regulator (PSR) ,
Popular ,
Regulatory Agenda ,
UK
Key developments of interest over the last month include:
United Kingdom: HM Treasury publishes Call for Evidence for Payments Landscape Review, seeking industry input on how payment systems could be improved. The deadline...more
8/21/2020
/ Call for Evidence ,
Canada ,
Data Protection ,
EU ,
Financial Services Industry ,
General Data Protection Regulation (GDPR) ,
HM Treasury ,
Payment Systems ,
Popular ,
PSD2 ,
Regulatory Agenda ,
Regulatory Requirements ,
UK
The current situation is fast-moving in light of the COVID-19 pandemic. Many financial supervisory and regulatory authorities as well as local governments have issued measures which are relevant for financial institutions...more
4/28/2020
/ Basel Committee on Banking Supervision (BCBS) ,
Capital Requirements ,
EU ,
European Central Bank ,
Federal Reserve ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
FSB ,
IOSCO ,
Loans ,
Prudential Regulation Authority (PRA) ,
Regulatory Requirements ,
Short Selling ,
UK
Key developments of interest over the last month include:
Spain: The Spanish Council of Ministers has approved a draft Bill for the Digital Transformation of the Financial System, which will create a Spanish regulatory...more
3/20/2020
/ AML/CFT ,
Cryptocurrency ,
Digital Currency ,
EU ,
FATF ,
Federal Budget ,
Financial Services Industry ,
FinTech ,
Payment Systems ,
Regulatory Requirements ,
Sandbox ,
SEPA ,
UK ,
UK Brexit ,
UK Payment Systems Regulator
The FCA has published a consultation on proposed non-Handbook guidance for firms on the fair treatment of vulnerable customers. The FCA reiterates that vulnerability is one of its key priorities and makes it clear that the...more
The FCA's latest Business Plan demonstrates a commitment to pushing forward on both existing and new initiatives across sectors, focused on maintaining fair consumer outcomes in the rapidly changing UK financial services...more
4/24/2017
/ BSA/AML ,
Cybersecurity Act of 2015 ,
Distributed Ledger Technology (DLT) ,
EU Market Abuse Regulation (EU MAR) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Markets ,
Financial Services Industry ,
FinTech ,
Innovative Technology ,
Investment Management ,
MiFID II ,
MiFIR ,
Pensions ,
Popular ,
Retirement ,
Senior Management Regime (SMR) ,
Small and Medium-Sized Enterprises (SMEs) ,
Technology ,
UK ,
UK Competition and Markets Authority (CMA)
In its 2015 Productivity Plan, the government committed to working with UK regulators to publish Innovation Plans setting out how legislation and enforcement frameworks could adapt to emerging technologies and disruptive...more
4/6/2017
/ Bank of England ,
Blockchain ,
BSA/AML ,
Digital Currency ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
FinTech ,
Innovation ,
Innovative Technology ,
Prudential Regulation Authority (PRA) ,
PSD2 ,
RegTech ,
Regulatory Agencies ,
UK ,
UK Payment Systems Regulator