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Financial Institutions United Kingdom Legislative Agendas

A&O Shearman

Bank Resolution (Recapitalisation) Act 2025 published

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The UK Bank Resolution (Recapitalisation) Act 2025 has received royal assent and was published. The Act makes provision for recapitalisation costs in relation to the special resolution regime under the Banking Act 2009, in...more

Skadden, Arps, Slate, Meagher & Flom LLP

A Review of the UK and EU Approaches to Third Country Branches and Subsidiarisation

Financial centres around the world have been hosts to branches and representative offices of international banks since as early as the 19th century. The term “branch” refers to a local establishment of a foreign financial...more

A&O Shearman

UK Financial Ombudsman Service Publishes Feedback to Consultation on Charging Claims Management Companies and other Professional...

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The U.K. Financial Ombudsman Service published a feedback statement to its consultation on its proposals to charge fees to claims management companies and other professional representatives. The statement summarizes the...more

A&O Shearman

UK AI: existing regulators take the lead

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As further initiatives come in to play and legislation is on the horizon, existing regulators (such as the ICO, CMA, Ofcom and FCA) continue to press on with their approach to AI regulation, including through the Digital...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Standard Formula: A Guide to Solvency II – Chapter 12: Undertakings in Difficulty

Undertakings in difficulty, in the context of Solvency II, refers to insurers that are either failing or likely to fail to meet their solvency capital requirement (SCR) or their minimum capital requirement (MCR) (together,...more

Faegre Drinker Biddle & Reath LLP

The UK Cyber Security and Resilience Bill

The UK government has recently announced that it plans to introduce a Cyber Security and Resilience Bill (Bill). The Bill seeks to update the 2018 Network and Information Security Regulations, which implemented the European...more

A&O Shearman

Regulatory monitoring: EU version Newsletter - September 2024

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1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) EU - EC: Report on the future of European competitiveness Status: Final - The EC has published a report on the future of European competitiveness,...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Government Introduces Bill To Clarify the Legal Status of Digital Assets

On 11 September 2024, the UK government introduced the Property (Digital Assets etc) Bill, which provides that digital assets can be considered to be personal property under the laws of England and Wales, and could therefore...more

A&O Shearman

On the existence of a pan-European reverse solicitation regime under MIFID II, and importance on a 'Hard' BREXIT

A&O Shearman on

This client memorandum concerns a highly technical point of considerable practical importance. It challenges aspects of the received wisdom that, for post-Brexit cross-border investment business conducted from the U.K....more

Skadden, Arps, Slate, Meagher & Flom LLP

Significant UK Court of Appeal Decision Confirms the Applicability of the UK’s Proceeds of Crime Legislation to Illegality in...

The UK Court of Appeal recently held that the National Crime Agency’s decision not to investigate whether cotton goods manufactured in China and imported to the UK were the product of forced labour was unlawful — a decision...more

Skadden, Arps, Slate, Meagher & Flom LLP

The London Space Law Symposium

On 9 May 2024, Skadden held the inaugural London Space Law Symposium, where six panels of Skadden representatives and industry experts discussed legal aspects of the new space economy. The event was held in the Naim Dangoor...more

White & Case LLP

2024 Financial Institutions Outlook & Trends

White & Case LLP on

This article, updated quarterly, looks ahead to the areas expected to be prioritized by financial services regulators across the globe; we look at the key regulatory trends emerging from the past year which inform our...more

Conyers

Regulatory & Risk Advisory Review: Cayman Islands – January to March 2024

Conyers on

Welcome to the first instalment of 2024 of our Cayman Islands Regulatory & Risk Advisory Review. As we cover in this issue, there have been a number of updates in the first quarter of the year. Perhaps most notably is the...more

Conyers

Regulatory & Risk Advisory Outlook 2024: Cayman Islands

Conyers on

2023 was an active year for the Cayman Islands regulatory industry. While we have endeavoured to keep you updated throughout the year with our Regulatory & Risk Advisory Reviews, our team has highlighted below the key changes...more

McDermott Will & Schulte

Update Future Financing Act - Focus on Financial Supervisory Law

With the ambitious goal of strengthening the performance of the German capital market and increasing the attractiveness of Germany as a financial location in the European financial center, the draft bill for a law on the...more

Sullivan & Worcester

The Electronic Trade Documents Act 2023 To Become Law

Sullivan & Worcester on

London, UK - The Electronic Trade Documents Act (ETDA) will shortly receive Royal Assent and will come into effect two months later. The culmination of years of work by many people and industry bodies, once it takes...more

Sullivan & Worcester

Finally — It's Almost Here ... Electronic Trade Documents Act 2023

Sullivan & Worcester on

Jacqueline Cook, Of Counsel, and Larissa Head, Trainee Solicitor, sum up the key points of the Electronic Trade Documents Act 2023 (the Act) which will shortly receive Royal Assent and come into force two months later. ...more

Skadden, Arps, Slate, Meagher & Flom LLP

The UK PRA’s Priorities for Insurance Supervision in 2023

The UK Prudential Regulation Authority (PRA) laid out its priorities for insurance supervision this year in a 10 January 2023 Priorities Letter. In this newsletter, we summarise the broad themes emerging from the Priorities...more

Hogan Lovells

Financial institutions general regulatory news, April 2021 # 3

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Recent regulatory developments of interest to most financial institutions, including updates from the UK government, PRA, FCA, JMLG and the European Commission. See also our sector specific updates in the Related Materials...more

Herbert Smith Freehills Kramer

ARRC Releases Proposal for New York State Legislation for US Dollar LIBOR Contracts

On March 6, 2020, the Alternative Reference Rates Committee (ARRC) convened by the Federal Reserve Board and the Federal Reserve Bank of New York released a proposal for New York State legislation that is intended to reduce...more

Hogan Lovells

The good, the bad and the ugly

Hogan Lovells on

One year on from Australia's Royal Commission on Banking - The report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (the Report), was published one year ago....more

Proskauer Rose LLP

UK Tax Round Up - June 2018

Proskauer Rose LLP on

Streaming of losses on trade succession (Leekes v. HMRC) - This case involved a taxpayer who purchased a business (the "predecessor business") and combined it with their existing business (creating the "enlarged...more

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