Popular, Banking Sector, Financial Conduct Authority (FCA)

Stablecoins: Regulatory Issues for UK and EU Banks To Consider

Skadden, Arps, Slate, Meagher & Flom LLP on 3/20/2025

As the market for stablecoins continues to evolve in sophistication and scale, financial institutions in the UK and EU are increasingly exploring whether and how to engage with them, whether for treasury, payments, settlement...more

UK Government Abolishes Payment Systems Regulator

Skadden, Arps, Slate, Meagher & Flom LLP on 3/14/2025

On 11 March 2025, the UK government announced its decision to abolish the Payment Systems Regulator (PSR) as part of a broader initiative to reduce regulatory burdens and stimulate economic growth. This action is intended to...more

The Payments Newsletter including Digital Assets and Blockchain, November 2024

Hogan Lovells on 11/27/2024

Key developments of interest over the last month include: the UK Chancellor of the Exchequer makes her first Mansion House speech and HM Treasury publishes the National Payments Vision, indicating a focus on economic growth...more

Retail banking and consumer finance: UK FCA portfolio letters highlight 2025 supervisory priorities

Hogan Lovells on 11/13/2024

The Financial Conduct Authority (FCA) is turning its thoughts to the year ahead in publishing a series of portfolio letters focusing on its 2025 supervisory priorities for retail banks, building societies, non-bank mortgage...more

UK retail banking and payments: Regulatory return to the office - recent developments to be aware of

Hogan Lovells on 10/4/2024

After a relatively quiet period over the summer due to the general election, the post-holiday period has been a busy one on the retail banking, consumer finance and payments regulatory front. There have also been some FCA...more

The Payments Newsletter including Digital Assets & Blockchain, September 2024

Hogan Lovells on 9/25/2024

Key developments of interest over the last month include: the UK Payment Systems Regulator publishing a policy statement on directing APP scams reimbursement for CHAPS payments and final guidance on distinguishing between APP...more

UK retail conduct requirements: FCA launches Call for Input following introduction of Consumer Duty

Hogan Lovells on 7/31/2024

Coinciding with the publication of its first report on how it has taken forward its new secondary UK competitiveness and economic growth objective, the FCA has published a Call for Input (CfI) on how far it may be appropriate...more

AI Insights: How Regulators Worldwide Are Addressing the Adoption of AI in Financial Services

Skadden, Arps, Slate, Meagher & Flom LLP on 12/13/2023

Following the declaration of the international artificial intelligence (AI) “Safety Summit” at Bletchley Park (Bletchley Summit) on November 1, 2023, and the White House’s October 30, 2023, Executive Order on AI (Executive...more

Swiss Banks Launch Crypto Offerings; GAO Addresses SEC Crypto Bulletin; UK and Hong Kong Publish Crypto Guidance; DOJ and SEC...

BakerHostetler on 11/6/2023

Swiss Banks Launch Tokenization Pilot, Crypto Custody and Trading Services - A recent press release announced a pilot by “SIX, the Swiss National Bank (SNB) and six commercial banks” that seeks “to test, in a live...more

USD LIBOR panel has ceased…what now?

A&O Shearman on 8/3/2023

June 30th has passed and one-, three- and six-month USD LIBOR settings have ceased to be published. As confirmed by the FCA on 3 April 2023, the ICE Benchmark Administration (IBA) has begun publishing non-representative...more

UK/EU ESG Regulation Monthly Round-Up – March-June 2023

Hogan Lovells on 7/10/2023

As we reach the midway point of 2023, the Hogan Lovells Sustainable Finance and Investment practice thought it would be useful to provide a review of recent key ESG developments from March-June 2023 to assist with navigating...more

Digital Banks Lead the Challenge Against Retail Banking Giants

Ankura on 5/9/2023

Challenger banks have achieved a great deal of success since they burst on the scene in a big way a decade or so ago to vie with traditional retail banks for a share of the market. The best challengers are consistently...more

JROC Publishes Report on Future of Open Banking in the UK

Wilson Sonsini Goodrich & Rosati on 5/1/2023

The UK is widely regarded as a global leader in Open Banking, and regulators and industry participants believe there is strong potential to build on that success. Regulatory efforts on that front are led by Joint Regulatory...more

Remarks by Governor Bowman on the Consequences of Fewer Banks in the U.S. Banking System

Goodwin on 4/21/2023

In This Weekly Roundup Issue. Governor Michelle W. Bowman of the Board of Governors of the Federal Reserve System (Federal Reserve) remarked on the consequences of fewer banks in the U.S. banking system; and the Consumer...more

Cost of living crisis and financial services: what’s the impact in the UK and Ireland?

Hogan Lovells on 3/29/2023

As part of the Hogan Lovells FinTech Fundamentals webinar series, on 22 March 2023 Financial Services Regulatory senior associate Jen Staniforth hosted a thought provoking panel discussion on the impact of the cost of living...more

Big Tech’s Competition Impacts on Payments and Retail Finance in Regulatory Spotlight

Wilson Sonsini Goodrich & Rosati on 12/6/2022

The UK Financial Conduct Authority (FCA) recently published a discussion paper (here) summarizing its preliminary findings on the potential competition impact of Big Tech entry into retail financial services. The FCA is now...more

New European Fintech Regulations Affecting ICT Providers

Morrison & Foerster LLP on 10/17/2022

Both the EU and the UK are taking steps to enhance the rules in the financial services sector to add a new layer of direct regulation for key technology providers to banks and other regulated financial services institutions –...more

Global Payments Newsletter, October 2021

Hogan Lovells on 10/29/2021

Key developments of interest over the last month include: United Kingdom: HM Treasury responds to Payments Landscape Review call for evidence Hong Kong: HKMA publishes white paper exploring the idea of a CBDC Italy: Bank of...more

Global Payments Newsletter, September 2021

Hogan Lovells on 9/29/2021

Key developments of interest over the last month include: El Salvador: Bitcoin becomes legal tender European Union: European Commission proposes Path to the Digital Decade to deliver EU's digital transformation by 2030...more

Financial institutions general regulatory news, June 2021 #2

Hogan Lovells on 6/21/2021

Financial Services Act 2021 (Commencement No 1) Regulations 2021 The Financial Services Act 2021 (Commencement No 1) Regulations 2021 (SI 2021/671) have been published. SI 2021/671 is a commencement regulation made under the...more

Open Finance: The Next Frontier in Fintech?

Latham & Watkins LLP on 1/23/2020

Call for input: Industry needs to engage as the FCA moves forward on its transformative vision for open finance. Imagine a world in which you could access your bank accounts, credit cards, mortgage, pensions, savings...more

Crypto Coming of Age: UK Regulation Hits Cryptoasset Business

Latham & Watkins LLP on 1/13/2020

New regulatory requirements, including registration and customer disclosure requirements, apply to regulated and unregulated persons carrying on relevant cryptoasset business. On 20 December 2019, the UK government published...more

Financial Services: UK Regulators Shine a Spotlight on Cybersecurity and Technology Resilience

King & Spalding on 4/4/2019

In a paper published last month,[i] the UK’s Financial Conduct Authority (“FCA”) set out various cybersecurity insights gleaned from the work of cyber coordination groups (“CCGs”) the regulator established in 2017. The...more

Data Privacy + Cybersecurity Insider - Recap of the Top Read Blog Posts in 2018

Robinson & Cole LLP on 12/31/2018

New Year’s is a time to look back on the happenings of the year and focus on the lessons and reminders those events have provided. For our final newsletter of the year, we’d like to share with you our top 10 most read posts...more

Final Notice in Tesco Personal Finance Plc - Cyber Attacks and the Need for Dress Rehearsals

WilmerHale on 11/8/2018

In a Final Notice dated 1 October 2018, the FCA sanctioned Tesco Personal Finance Plc for failings connected with a cyber attack it suffered in November 2016. The attack originated from Brazil and attackers managed to...more

Today's Popular Updates › Banking Sector › Financial Conduct Authority (FCA)

"My best business intelligence, in one easy email…"