News & Analysis as of

Financial Conduct Authority (FCA) Banking Sector

A&O Shearman

UK Future Entity for Open Banking to Be Established by End of 2025

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The UK Financial Conduct Authority (FCA) has published a feedback statement on the design of the Future Entity for UK open banking (FS25/4). The feedback statement responds to the feedback received to the consultation, which...more

A&O Shearman

UK FCA Publishes New Webpage Consolidating Its Work on Wholesale Bank Supervision

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The UK Financial Conduct Authority (FCA) published a new "Wholesale banks supervision" webpage which consolidates insights from the FCA's multi-firm and other supervisory work involving wholesale banks. The webpage covers a...more

A&O Shearman

UK FCA Handbook 132

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The UK Financial Conduct Authority (FCA) has published Handbook Notice 132, outlining legislative and technical updates to the FCA Handbook made by the statutory instruments set out below. - Non-Financial Misconduct...more

Skadden, Arps, Slate, Meagher & Flom LLP

FCA Premium Finance Study: Concerns Raised but No Regulatory Changes Proposed

- What is new: Preliminary findings from the Financial Conduct Authority’s (FCA’s) market study of premium finance, which focuses on motor and home insurance, highlight concerns about affordability, value and transparency,...more

A&O Shearman

Mansion House: Special Resolution Regime Code of Practice updated

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HM Treasury has published an updated version of the Banking Act 2009 Special Resolution Regime Code of Practice. The code sets out resolution tools and powers available under the Banking Act 2009 for authorities to use in...more

A&O Shearman

Mansion House: FOS to reduce interest rate applied before a decision to base rate plus 1%

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The UK Financial Ombudsman Service (FOS) has published a final policy statement and accompanying press release, confirming that the FOS is changing the interest rate applied to compensation awards to a time-weighted average...more

A&O Shearman

Mansion House: HMT publications on new regulated activity of providing targeted support

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HM Treasury (HMT) has published a draft statutory instrument (SI) and policy note on providing targeted support. The draft SI amends the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 by specifying...more

Ropes & Gray LLP

FCA, PRA and HM Treasury Consult on SMCR Reform

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On 15 July 2025, HM Treasury, the Financial Conduct Authority (FCA), and the Prudential Regulation Authority (PRA) published consultation papers proposing possibly significant reforms to the Senior Managers and Certification...more

A&O Shearman

Bank of England's FPC publishes July financial stability report

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The Bank of England's Financial Policy Committee (FPC) has published its July financial stability report alongside the record of its 27 June meeting. After assessing the risks to the UK financial system, the FPC reports that...more

A&O Shearman

UK FCA publishes final rules on fees and levies for 2025/26

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The UK Financial Conduct Authority (FCA) has issued final policy statement PS25/8, accompanied by an updated webpage, confirming the regulatory fees and levies for the financial year 2025/26. This follows the FCA's April...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK and EU H1 Digital Assets Regulatory Update

The first half of 2025 brought significant developments in the regulation of digital and cryptoassets in the UK and EU. In this half-year update, we review these and look ahead to likely developments in the UK and EU in the...more

Goodwin

FCA Non-Financial Misconduct Rules: Private Fund Managers, Fintechs, and Other Non-Banks Firmly in Scope

Goodwin on

In a previous alert, “FCA D&I Standards for Large Firms Abandoned (for now), Non-financial Misconduct Rules Delayed (but Still Important),” we discussed the proposals put forward by the UK Financial Conduct Authority (FCA)...more

A&O Shearman

Executive directors “knowingly concerned” in bank’s breach of the UK listing rules

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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

BCLP

Upper Tribunal Ruling in the Case of Craig Donaldson and David Arden (Metro Bank)

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The Upper Tribunal has upheld the FCA’s decision that the CEO and CFO of Metro Bank were knowingly concerned in the Bank’s breach of the Listing Rules....more

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

Skadden, Arps, Slate, Meagher & Flom LLP

UK Financial Regulation Update

The first four months of 2025 proved busy for the UK’s financial regulators, with both the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) publishing their strategy and business plan documents. As...more

A&O Shearman

FCA findings on multi-firm review of customers in vulnerable circumstances

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The UK Financial Conduct Authority (FCA) has published a webpage summarising the findings of its multi-firm review on retail banks' treatment of customers in vulnerable circumstances involving bereavement and power of...more

Paul Hastings LLP

Daily Financial Regulation Update -- Friday, April 18, 2025

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April 17, 2025 - Federal Reserve Board Governor Michael S. Barr gave a speech entitled, “Deepfakes and the AI Arms Race in Bank Cybersecurity.” April 17, 2025- The Federal Reserve Bank of Boston published an article...more

Hogan Lovells

Consumer Duty: UK FCA finds no room for complacency in firms’ treatment of customers in vulnerable circumstances involving...

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Outcomes testing and monitoring under the Consumer Duty, and senior management engagement with these areas, remain key focus areas for the FCA. Whilst the review in question focuses specifically on the treatment of customers...more

A&O Shearman

BoE response to discussion paper on reviewing access to RTGS accounts for settlement

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On 8 April, the Bank of England (BoE) has published its response to the discussion paper on reviewing access to Real-Time Gross Settlement (RTGS) accounts for settlement. In the discussion paper, initially published on 8...more

A&O Shearman

UK bankers' remuneration reform: proposed relaxation of deferral and retention rules in focus

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PRA and FCA proposals to simplify bankers’ remuneration rules would relax certain key restrictions on bankers’ variable pay, giving banks more flexibility in remuneration design and improving their recruitment potential....more

Paul Hastings LLP

Daily Financial Regulation Update -- Wednesday, April 16, 2025

Paul Hastings LLP on

April 15, 2025 - The Federal Reserve Board, Federal Deposit Insurance Corporation, National Credit Union Administration and Office of the Comptroller of the Currency temporarily paused certain appraisal requirements for...more

Paul Hastings LLP

Daily Financial Regulation Update -- Monday, April 14, 2025

Paul Hastings LLP on

April 11, 2025 - The Federal Reserve Bank of New York published a staff report entitled, “The Risk Sensitivity of Global Liquidity Flows: Heterogeneity, Evolution, and Drivers.”...more

A&O Shearman

UK FCA updated webpage on cash-based money laundering

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The UK Financial Conduct Authority (FCA) has updated its webpage on cash-based money laundering and confirmed its intention to carry out a multi-firm review in this area in the financial year 2025/2026. ...more

A&O Shearman

UK digital securities sandbox instrument on ancillary FMI activities

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The UK Financial Conduct Authority (FCA) has published its Handbook Notice 128 which (among other things) confirms Handbook changes made by the Digital Securities Depositories Instrument 2025 (FCA 2025/14). The instrument...more

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