The UK Upper Tribunal (Tax and Chancery) has upheld the Financial Conduct’s Authority’s (FCA) decision to take action against two former executives of a bank for being “knowingly concerned” in the bank’s breach of the listing...more
6/26/2025
/ Banking Sector ,
Corporate Executives ,
Corporate Governance ,
Enforcement Actions ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
Listing Rules ,
Penalties ,
Prudential Regulation Authority (PRA) ,
Securities Regulation ,
Tax Tribunal ,
Tribunals ,
UK
The UK Financial Conduct Authority (FCA) has updated its Enforcement Guide, including its revised policy on when it will announce details of enforcement investigations. Following a consultation process that was subject to...more
The UK Financial Conduct Authority (FCA) has published its strategy for the next five years and it has a very different tone and objective to the three-year strategy it shared in 2022. This shift in tone reflects developments...more
This article examines the latest trends in U.K. regulatory enforcement and supervisory action and highlights the key takeaways for firms in 2025 and beyond.
Over the past 18 months, the Financial Conduct Authority (FCA)...more
2/6/2025
/ Compliance ,
Consumer Protection Laws ,
Corporate Governance ,
Enforcement Actions ,
Financial Conduct Authority (FCA) ,
Financial Crimes ,
Financial Regulatory Reform ,
Fines ,
Prudential Regulation Authority (PRA) ,
Regulatory Oversight ,
Risk Management ,
UK
This is the final note in a three-part series on the regulation of artificial intelligence in the financial services sector in the United States, the European Union and the United Kingdom. Our first note, we provided a...more
10/21/2024
/ Artificial Intelligence ,
Consumer Protection Laws ,
Data Protection ,
Enforcement Actions ,
EU ,
Financial Services Industry ,
General Data Protection Regulation (GDPR) ,
Information Commissioner's Office (ICO) ,
Legislative Agendas ,
Liability ,
Privacy Laws ,
Regulatory Agenda ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
UK ,
United States
Rapid and accelerating developments in artificial intelligence have prompted governments around the world to consider how AI should be regulated and used responsibly by businesses, without stifling innovation.
This is...more
10/17/2024
/ Artificial Intelligence ,
Capital Markets ,
Data Protection ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
General Data Protection Regulation (GDPR) ,
Innovative Technology ,
Intellectual Property Protection ,
Machine Learning ,
Privacy Laws ,
Regulatory Agenda ,
Technology Sector ,
UK ,
White Collar Crimes
Many governments are grappling with the question of how to regulate artificial intelligence to ensure it is adopted safely and used responsibly without hampering innovation. Governments have generally indicated similar...more
10/8/2024
/ Artificial Intelligence ,
Bank of England ,
Bergdorf Goodman ,
Data Collection ,
Data Processors ,
Data Selling ,
Documentation ,
EU ,
European Banking Authority (EBA) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Services Industry ,
Information Governance ,
Machine Learning ,
MiFID II ,
Personal Data ,
Popular ,
Privacy Laws ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Regulatory Standards ,
Risk Management ,
Third-Party ,
Training ,
Transparency ,
UK
The UK Financial Conduct Authority (FCA) has published its business plan for 2024/25. Reducing and preventing financial crime, championing consumer needs and strengthening the UK’s position in global wholesale markets all...more
3/21/2024
/ Banking Sector ,
Banks ,
Business Plans ,
Enforcement ,
Enforcement Statistics ,
Financial Conduct Authority (FCA) ,
Financial Crimes ,
Financial Services Industry ,
FinTech ,
Fraud ,
UK
By now, you may have heard that the UK Financial Conduct Authority (FCA) is consulting on changes to its approach to publicising enforcement investigations, as well as other changes to its Enforcement Guide. If they come into...more
3/4/2024
/ Banking Sector ,
Capital Markets ,
Employment Litigation ,
Enforcement Actions ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Insurance Industry ,
Investigations ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
UK
2023 saw a raft of UK law reforms concerning economic crime and continued scrutiny of business risk concerning human rights and greenwashing. This is reflected in the blogs our subscribers were most interested in reading in...more
1/11/2024
/ Climate Change ,
Criminal Liability ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Greenwashing ,
Human Rights ,
Modern Slavery Act ,
New Regulations ,
Regulatory Agenda ,
Regulatory Reform ,
Risk Management ,
Supply Chain ,
UK
This is the last post in our series on the UK Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) proposals to introduce a new regulatory framework on diversity and inclusion (D&I) in the financial...more
12/22/2023
/ Banking Sector ,
Corporate Culture ,
Corporate Governance ,
Data Protection ,
Diversity ,
Diversity and Inclusion Standards (D&I) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Prudential Regulation Authority (PRA) ,
Risk Management ,
UK
The extent to which firms are captured by the UK Financial Conduct Authority (FCA) and Prudential Regulation Authority’s (PRA) proposals to implement a new regime for diversity and inclusion (D&I) in financial services...more
The UK Upper Tribunal (Tribunal) has overruled Financial Conduct Authority (FCA) decisions that three former employees of Julius Baer International Limited (JBI) lacked integrity and should be prohibited. The Tribunal’s...more
Regulatory change programmes are no small undertaking. Failure to implement change thoroughly can lead to intensified regulatory scrutiny or, if sufficiently serious, investigations and enforcement action....more
In a strike out application, the High Court has reaffirmed that materials obtained through a formal request for mutual legal assistance (MLA) can only be used for the purpose stated within the request, absent express consent...more
2022 saw a big shift in the geo-political climate and a bedding in of the new hybrid working world. These two developments are reflected in the blogs our subscribers were most interested in reading. Readers remain focused on...more
1/10/2023
/ Economic Sanctions ,
Financial Conduct Authority (FCA) ,
Financial Crimes ,
Money Laundering ,
Pending Legislation ,
Regulatory Agenda ,
Regulatory Reform ,
Regulatory Violations ,
Russia ,
Senior Management Regime (SMR) ,
SMCR ,
UK ,
Ukraine
Data appears to be at the centre of everything; from understanding supply chain dynamics, to digital marketing. With its continued focus on becoming a data driven regulator, the UK Financial Conduct Authority (FCA) now...more
The UK Financial Conduct Authority (FCA) has published final rules and guidance for its new Consumer Duty, which comes into force next year. Most firms are already preparing for implementation and there are a few important...more
The UK Financial Conduct Authority’s (FCA) shift towards consumer protection is intensifying. At the same time, it is gearing up to become a more assertive regulator, intervening more frequently, following the example of its...more
Financial crime has been a key area of focus for the UK Financial Conduct Authority (FCA) for a number of years, attracting some of the highest financial penalties, and this looks set to continue. With improvements to FCA...more
The requirement for firms to collect and report quality data has never been more important, with the UK Financial Conduct Authority’s (FCA) outcome driven strategy looking to rely on firm data to realise its plans. In this...more
The UK Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) recently published their Business Plans for 2022/23. The FCA also published a three-year strategy. But what does it really mean for firms? ...more
The UK Financial Conduct Authority’s (FCA) latest consultation and feedback on the proposed Consumer Duty engages with some of the sticking points as well as providing draft rules and guidance. ...more
As the dust looks like it is starting to settle on the Covid-19 pandemic, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have been busy resuming their enforcement agendas.
Originally...more
The UK Financial Conduct Authority (FCA) has finalised two enforcements against brokers in relation to the cum-ex trading scandal; both for failing to mitigate the risk of facilitating financial crime. Further action seems...more