The Standard Formula Podcast | Developments on the Horizon for the UK Change-in-Control Regulatory Regime
Since its inception in 2016, the Senior Managers and Certification Regime (SMCR) has served as a cornerstone of the UK’s financial services regulatory landscape, designed to enhance individual accountability and raise...more
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
The UK Prudential Regulation Authority (PRA) has published consultation paper LIAC01/25 proposing a series of low-impact amendments to its Rulebook and policy materials. The deadline for comments on the consultation is 2...more
- What is new: HM Treasury and the UK regulators announced a package of financial services reforms on 15 July 2025, including cross-cutting reforms in the regulatory environment, significant changes to the SMCR regime, a...more
HM Treasury (HMT) has published an update to its policy note on applying the Financial Services and Markets Act 2000 model of regulation to the UK Capital Requirements Regulation (UK CRR). An earlier version of the policy...more
HM Treasury (HMT) has published its consultation paper on cross-cutting reforms in the UK regulatory environment in relation to key performance indicators, principles and strategies to be applied by the UK Financial Conduct...more
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
On November 15, 2024, the PRA issued a consultation paper (CP 15/24) proposing changes to the regulatory framework for UK insurance special purpose vehicles. Insurance special purpose vehicles (or ISPVs) are intended to...more
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
In this episode of “The Standard Formula” podcast, which focuses on Solvency II developments, Skadden partner Rob Chaplin is joined by colleague Olivier Peeters to discuss the U.K.'s change in control regime for insurers and...more
The UK’s Financial Conduct Authority and Prudential Regulation Authority have released a joint consultation on new regulatory framework on diversity and inclusion. This article focuses on the FCA’s Consultation Paper CP23/20....more
In Consultation Paper 13/23 (CP 13/23), the UK’s Prudential Regulation Authority (“PRA”) sets out its “Margin requirements for non-centrally cleared derivatives: Amendments to BTS 2016/2251.”...more
The UK’s Financial Conduct Authority (“FCA”) has published Consultation Paper CP23/11 on enhancing the proportionality of the application of rules on remuneration for smaller, dual-regulated firms in relation to the risks...more
On 30 September 2022, the Prudential Regulation Authority (the “PRA”) published Consultation Paper 16/22 (the “Consultation Paper”) proposing for the implementation of Basel 3.1 standards in the UK. The consultation closes on...more
The UK Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) on December 20, 2022, announced fines totaling £48.65 million ($59 million) on TSB Bank plc (TSB) for operational resiliency failures, after...more
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
Markets in Financial Instruments (Capital Markets) (Amendment) Regulations 2021 The Markets in Financial Instruments (Capital Markets) (Amendment) Regulations 2021 (SI 2021/774) have been published, together with an...more
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
On 5 December 2019 the Bank of England (Bank), UK Prudential Regulation Authority (PRA) and UK Financial Conduct Authority (FCA) published coordinated consultation papers and policy on new requirements to strengthen...more
The U.K. Prudential Regulation Authority is consulting on proposals for modernizing the regulatory framework on outsourcing and third party risk management by the financial services sector. The proposals are relevant to...more