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Financial Institutions Consultation

Latham & Watkins LLP

Government Sets Out Next Steps for UK Sustainability Reporting Framework

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The package of consultations covers UK Sustainability Reporting Standards, transition plans, and assurance of sustainability-related disclosures....more

Latham & Watkins LLP

UK Government Consults on Sustainability Reporting Standards and Climate Transition Planning

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On 25 June 2025, the UK government launched three consultations as part of London Climate Action Week, which are intended to form key parts of the government’s programme to make the UK the “sustainable finance capital of the...more

A&O Shearman

EMIR 3: ESMA proposes clearing thresholds

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The European Securities and Markets Authority (ESMA) has published a consultation paper setting out draft regulatory technical standards (RTS) amending the RTS on the clearing thresholds (CTs) under the European Markets...more

BCLP

Unnecessary, Unfair and Unclear

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In November 2024, the FCA published its further consultation with its revised proposals to make early announcements of open enforcement investigations (“CP 24/2, Part 2”). BCLP was one of the many respondents to raise strong...more

Latham & Watkins LLP

Brazil Publishes Draft Sustainable Taxonomy Framework for Public Consultation

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The taxonomy would inform certain mandatory requirements in the jurisdiction, with particular relevance to Brazil’s capital markets and financial sector....more

Latham & Watkins LLP

European Banking Authority Launches Consultation on Guidelines on ESG Scenario Analysis

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The draft guidelines outline expectations for institutions to adopt forward-looking strategies and incorporate scenario analysis into their management framework to assess resilience against the negative impacts of ESG...more

Latham & Watkins LLP

PCAF Launches Consultation on New Methodologies for the Global GHG Accounting and Reporting Standard

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The consultation covers new methodologies for the financial sector’s GHG emissions reporting, including regarding avoided emissions, or “scope 4” emissions. On 3 December 2024, the Partnership for Carbon Accounting...more

Latham & Watkins LLP

UK Regulators Propose Shake-up to Bank Remuneration Rules

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On 26 November 2024, the PRA and the FCA published a joint Consultation Paper on changes to the remuneration rules (PRA CP16/24, FCA CP24/24). The changes are relevant to banks, building societies, and PRA-designated...more

BCLP

Managing Technology Supply Chains: What the Advent of the UK’s Critical Third Party Regime Means for Financial Services Firms and...

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The FCA, PRA, and Bank of England have published their finalised critical third party (CTP) rules (and accompanying guidance) in PS24/16 Operational resilience: Critical third parties to the UK financial sector....more

Latham & Watkins LLP

Key Takeaways From Rachel Reeves’ Mansion House Speech

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The UK Chancellor announces a growth-focused agenda for financial services. On 14 November 2024, the new Chancellor of the Exchequer, Rachel Reeves, delivered her first Mansion House speech....more

Goodwin

A New Safeguarding Regime: Five Points for Payments and E-money Firms

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For any UK fintech business involved with payments of electronic money (e-money) and any (experienced) investor in these businesses, safeguarding client funds is a key regulatory issue....more

WilmerHale

The FCA Enforcement Club: Public Membership Soon to be Available...

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“The first rule of enforcement club is that you do in fact talk about enforcement club”; so Therese Chambers, the UK Financial Conduct Authority’s (FCA) joint executive director of enforcement and market oversight, announced...more

Latham & Watkins LLP

Hong Kong Monetary Authority Issues Guidance for Banks on Crypto Custody and Sale of Tokenised Products

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Regulator sets out its expectations for banks looking to provide digital asset custody services, and sell and distribute tokenised products. On 20 February 2024, the Hong Kong Monetary Authority (HKMA) published two...more

Latham & Watkins LLP

FCA Consults on Plans to Announce Enforcement Investigations

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The FCA plans to streamline its approach to enforcement and publicise investigations at an early stage. On 27 February 2024, the FCA published a Consultation Paper (CP24/2) on its proposed new approach to publicising...more

BCLP

Personal Matters - How will the risks to firms from individuals’ behaviour increase in 2024?

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Financial regulators in the UK have been interested for some years in the question of how personal behaviour can affect the risk profile of a financial institution. A recent SEC case suggests that US regulators may now be...more

Goodwin

The FCA Consults: D&I Standards for Large Firms, Nonfinancial Misconduct Rules for All

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On 25 September, the Financial Conduct Authority (FCA) published its consultation paper CP23/20: Diversity and inclusion in the financial sector – working together to drive change alongside a similar consultation paper...more

Latham & Watkins LLP

European Commission Launches Consultation on Sustainable Finance Disclosure Regulation

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The EU regulators are reviewing the Sustainable Finance Disclosure Regulation introduced in 2021, exploring the need for potential additional adjustments. On 14 September 2023, the European Commission initiated a...more

Latham & Watkins LLP

Monetary Authority of Singapore Introduces Investor Protection Measures For Digital Tokens

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MAS has published new requirements for DPT service providers and a consultation paper on additional regulations and prohibitions against unfair trading practices. On 3 July 2023, the Monetary Authority of Singapore...more

Latham & Watkins LLP

FCA Consults on Revamped Guidance for Financial Promotions on Social Media

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Regulator clarifies that existing FCA rules will continue to apply but will also reflect the evolving landscape of financial promotions on social media. On 17 July 2023, the FCA published a guidance consultation (GC23/2)...more

Latham & Watkins LLP

Singapore: MAS Proposes Guidelines for Financial Institutions to Support Financing for Decarbonisation

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The forthcoming guidelines will set supervisory expectations to steer financial institutions’ transition planning processes to facilitate decarbonisation efforts by their clients. On 8 June 2023, the Monetary Authority...more

Goodwin

Marketing Cryptoassets and Services in and Into the UK: Shifting Regulatory Sands

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On 1 February 1 2023, HM Treasury (HMT) issued a further policy statement on cryptoasset promotions in the UK, "Government approach to cryptoasset financial promotions regulation policy statement”. It updates HMT’s January...more

BCLP

Treasury and FCA move to regulate the marketing of cryptoassets in a similar way to high risk investments.

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In a widely-anticipated development, HM Treasury (“HMT”) has announced its intention to widen the scope of the financial promotions regime in so far as it applies to cryptoassets. Hot on its heels, the Financial Conduct...more

Latham & Watkins LLP

UK to Regulate Cryptoasset Promotions

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HM Treasury has confirmed that it will bring certain unregulated cryptoassets within scope of the financial promotions regime. On 18 January 2022, the UK government confirmed its intention to bring the promotion of certain...more

BCLP

FCA proposes new Consumer Duty - TCF with bigger teeth?

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On 14 May 2021, the FCA published Consultation Paper CP21/13 outlining much-anticipated proposals relating to the standards expected of regulated firms to ensure the protection of retail consumers. The Consultation Paper...more

Latham & Watkins LLP

FCA Proposes New Consumer Duty

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The FCA is proposing to set higher expectations for firms operating in retail markets. On 14 May 2021, the FCA published a Consultation Paper (CP21/13) on introducing a new Consumer Duty....more

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