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Banking Sector Financial Institutions Financial Services and Markets Act

Hogan Lovells

UK: The Bank Resolution (Recapitalisation) Act 2025

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The Bank Resolution (Recapitalisation) Act 2025 (Act) received Royal asset on 15 May 2025. Although deceptively short and dependant on the passing of further regulations in order to come into effect, it introduces significant...more

A&O Shearman

Financial Services and Markets Act 2000 (Ring-fenced Bodies, Core Activities, Excluded Activities and Prohibitions) (Amendment)...

A&O Shearman on

The Financial Services and Markets Act 2000 (Ring-fenced Bodies, Core Activities, Excluded Activities and Prohibitions) (Amendment) Order 2025 has been published alongside an explanatory memorandum. The Order amends the...more

A&O Shearman

UK Extends Transitional Period for Third-Country Benchmarks

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The Financial Services and Markets Act 2023 (Benchmarks and Capital Requirements) (Amendment) Regulations 2023 were enacted on December 19, 2023. The Regulations amend two pieces of legislation that are set to be repealed by...more

A&O Shearman

UK Extends Temporary Recognition Regime for Third Country Central Counterparties and Transitional Regime for Qualifying Central...

A&O Shearman on

The Central Counterparties (Transitional Provision) (Extension and Amendment) Regulations 2023 were made on September 13, 2023 and will enter into force on November 1, 2023, extending the U.K.'s temporary recognition regime...more

A&O Shearman

FCA Reviews Treatment of Politically Exposed Persons

A&O Shearman on

The U.K. Financial Conduct Authority has launched a review of the treatment by regulated financial services firms of Politically Exposed Persons based in the U.K. Firms are currently obliged, under the Money Laundering,...more

A&O Shearman

First Commencement Regulations Under UK Financial Services and Markets Act 2023

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The Financial Services and Markets Act 2023 (Commencement No. 1) Regulations 2023 were made on July 10, 2023 and will bring into force provisions under the Financial Services and Markets Act 2023 from either July 11, 2023,...more

A&O Shearman

UK Financial Services and Markets Act 2023

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Following rigorous debate in Parliament, the U.K.'s latest Financial Services and Markets Act (FSM Act) received royal assent on June 29, 2023. The FSM Act significantly changes the U.K.'s regulatory framework for financial...more

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