Popular, Financial Institutions, Financial Conduct Authority (FCA)

PEP talk revisited: revised UK guidance on treatment of PEPs

A&O Shearman on 8/14/2025

The UK Financial Conduct Authority (FCA) has issued finalised guidance on the treatment of politically exposed persons (PEPs) for anti-money laundering purposes. There is no significant shift in the FCA’s expectations of...more

Daily Financial Regulation Update -- Tuesday, April 15, 2025

Paul Hastings LLP on 4/15/2025

April 11, 2025- The Credit Access and Inclusion Act was introduced to expand credit access for millions of Americans with limited or non-existent credit histories. April 14, 2025- Federal Reserve Board Governor...more

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

International Organization of Securities Commissions Publishes Consultation Report on Pre-Hedging

A&O Shearman on 12/2/2024

The International Organization of Securities Commissions has published a consultation report on pre-hedging. The report assesses potential conduct and market integrity issues associated with the practice of pre-hedging. IOSCO...more

FCA publishes paper on nature-related risk for financial institutions

Proskauer - Regulatory & Compliance on 11/6/2024

The FCA’s Climate Financial Risk Forum has published a paper on “Nature-related Risk: Technical Data Guidance for Financial Institutions” (the ‘‘Paper’’). What does the FCA’s Paper cover?...more

Zooming In on AI - #6: AI under financial regulations in the U.S., EU and U.K.

A&O Shearman on 10/8/2024

Many governments are grappling with the question of how to regulate artificial intelligence to ensure it is adopted safely and used responsibly without hampering innovation. Governments have generally indicated similar...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

UK Regulators Publish Approaches to AI Regulation in Financial Services

Skadden, Arps, Slate, Meagher & Flom LLP on 5/3/2024

On 22 April 2024, the Financial Conduct Authority (FCA), the Prudential Regulation Authority (PRA) and the Bank of England published their strategic approaches to regulating AI in response to the UK government’s July 2022 AI...more

FCA Finalises UK Sustainable Investment Rules, With More To Follow After Further Consultation

Skadden, Arps, Slate, Meagher & Flom LLP on 1/8/2024

On 28 November 2023, the UK’s Financial Conduct Authority (FCA) unveiled its Policy Statement PS 23/16 (Policy Statement), which sets out the final rules for sustainability disclosure and investment labels (SDR Rules). The...more

UK Insurance Horizon Scanner - January and February 2024

Hogan Lovells on 1/3/2024

A snapshot of key market and regulatory developments expected to impact the UK insurance sector over the next few months....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

AI and Machine Learning in UK financial services: the public response to the FCA and PRA

Goodwin on 10/31/2023

In our previous alert, we discussed the emerging trends for regulating artificial intelligence (AI) in financial services and mentioned a joint paper published by the Prudential Regulation Authority (PRA) and Financial...more

FCA Publishes Outcome of its Review of Firms' Compliance with Sanction Controls

K&L Gates LLP on 9/28/2023

Introduction - Since the Russian invasion of Ukraine in February 2022 the UK has introduced an unprecedented number and variety of sanctions. The FCA has recently assessed the sanctions controls of over 90 financial service...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

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, June 2022

Hogan Lovells on 6/30/2022

Key developments of interest over the last month include: UK Payment Systems Regulator announces two market reviews on card fees; Reserve Bank of India publishes Payments Vision 2025; and U.S. Department of Commerce solicits...more

Daily Financial Regulation Update -- Friday, June 17, 2022

Paul Hastings LLP on 6/17/2022

Federal Agencies- Federal Reserve Bank of New York - Business Leaders Survey - June 16, 2022- The Federal Reserve Bank of New York released the June 2022 Business Leaders Survey....more

Daily Financial Regulation Update -- Wednesday, May 25, 2022

Paul Hastings LLP on 5/25/2022

Major Developments- Federal Deposit Insurance Corporatio Quarterly Banking Profile: Insured Institutions Reported Net Income of $59.7 Billion in First Quarter 2022-...more

UK Litigation - A Year in Summary

Morrison & Foerster LLP on 12/21/2021

This year saw the UK grapple with life after Brexit and, along with the rest of the world, the impact of the continued COVID-19 pandemic. As 2021 draws to a close, we round up the key events and developments from the year in...more

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

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