News & Analysis as of

Banking Sector United Kingdom Consultation Papers

A&O Shearman

UK PRA extends Phase 1 Pillar 2A review consultation and defers implementation of certain risk areas

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The UK Prudential Regulation Authority (PRA) has announced an extension to the consultation period for CP12/25 which sets out Phase 1 of its Pillar 2A review. The consultation was originally published on 22 May. In response...more

A&O Shearman

PRA consults on proposed reforms to credit union investment rules

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The Prudential Regulation Authority (PRA) has published consultation paper CP13/25 proposing amendments to the credit union investment rules to permit investments in credit union service organisations (CUSOs). The proposals...more

A&O Shearman

UK bankers' remuneration: significant reform proposals

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The PRA and FCA are consulting on new proposals to simplify the UK remuneration regime and make it more proportionate for banks. Changes would reduce the number of material risk takers (MRTs) subject to the rules, simplify...more

Hogan Lovells

Global Payments Newsletter, August 2022

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Key developments of interest over the last month include: UK FCA publishes final Consumer Duty rules and guidance; European Commission adopts Delegated Regulation amending RTS on SCA and CSC under PSD2; and South East Asian...more

Hogan Lovells

Financial institutions general regulatory news, August 2021 #2

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FCA regulatory sandbox: new application guide and now always open The Financial Conduct Authority (FCA) has published a new guide to assist firms making a regulatory sandbox application. The FCA has also updated its webpage...more

Proskauer Rose LLP

Regulation Round Up - September 2020

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29 September - The Financial Conduct Authority (“FCA”) published its perimeter report 2019/20, which provides an update on the issues raised in its 2018/19 report. A European Commission notice (2020/C 321/01) relating...more

A&O Shearman

UK Payment Systems Regulator Publishes Policy Statement on Confirmation of Payee Requirements

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The U.K. Payment Systems Regulator has published a policy statement setting out its final decision on varying Specific Direction 10, which requires payment service providers to implement the Confirmation of Payee system by...more

A&O Shearman

UK Proposals for Confirmation of Payee Exemptions

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The U.K. Payment Systems Regulator has opened a consultation on proposals to vary its Specific Direction 10 on Confirmation of Payee. Confirmation of Payee is a system that ensures that certain identifiers (including name,...more

A&O Shearman

UK Regulators Launch Consultation on Operational Resilience in Financial Services

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The Bank of England, U.K. Prudential Regulation Authority and U.K. Financial Conduct Authority have published a shared policy summary and consultation papers on strengthening operational resilience in the financial services...more

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