On 10 June Nikhil Rathi, the FCA’s CEO, appeared before the Treasury Select Committee. The opening volley of questions was focused on the risks presented by illegal financial promotions on social media and, relatedly, the...more
The Online Safety Act (the OSA) received Royal Assent on 26 October 2023 and is now in force. The OSA establishes an extensive regulatory framework for providers of online user-to-user services and search services with...more
Social media raises a novel set of risks and challenges to effective financial services regulation, particularly in the field of consumer protection and market integrity. Specifically, regulators have expressed concerns...more
The proposals includes fines for non-compliance of up to the greater of £18 million or 10% of a provider’s annual global revenue. On 12 May 2021, the UK government published the Online Safety Bill (the Bill), which aims...more