HM Treasury has published a policy paper and two related statutory instruments (SI) on its approach to updating the UK's regulatory framework for central counterparties (CCPs). The Financial Services and Markets Act 2023 gave...more
The new regime will take effect on 1 January 2025, but will not diminish the responsibilities of financial services firms relying on the services of critical third parties....more
The announcement in 2021 of the intention to implement new rules directly targeting the types of tech service provider relied on by most financial institutions may be a necessary corrective given the heavy market...more
As part of measures introduced under the Financial Services and Markets Act (FSMA) 2023, the Financial Conduct Authority (FCA) and the Bank of England (BoE) have published consultations relating, respectively, to maintaining...more
In the build-up to his appointment as chief executive of the Financial Conduct Authority (FCA) in 2020, Nikhil Rathi stated that his vision for the regulator involved “a stronger, prompter approach to enforcement”. This...more
With new provisions in effect beginning August 29, 2023, the UK’s regulatory framework for digital assets begins to take shape. FSMA 2023 explicitly brings cryptoassets within the FCA’s regulatory perimeter and creates a...more
The Financial Services and Markets Bill establishes a new framework for the Bank of England’s regulation of Financial Market Infrastructure (FMI) and in particular central counterparties (CCPs) and central securities...more