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Regulatory Agenda Banking Sector Financial Conduct Authority (FCA)

Skadden, Arps, Slate, Meagher & Flom LLP

UK Financial Regulation Update

The first four months of 2025 proved busy for the UK’s financial regulators, with both the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) publishing their strategy and business plan documents. As...more

Paul Hastings LLP

Daily Financial Regulation Update -- Friday, April 18, 2025

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April 17, 2025 - Federal Reserve Board Governor Michael S. Barr gave a speech entitled, “Deepfakes and the AI Arms Race in Bank Cybersecurity.” April 17, 2025- The Federal Reserve Bank of Boston published an article...more

A&O Shearman

UK Prudential Regulation Authority response to HM Treasury November 2024 letter on remit and recommendations

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HM Treasury has published a letter (dated December 18, 2024) from Andrew Bailey, BoE Governor, in his role as Chair of the Prudential Regulation Committee. In the letter, Mr Bailey sets out the response of the PRC to HMT's...more

A&O Shearman

UK Financial Conduct Authority responds to Government call for regulators to support growth

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The Financial Conduct Authority has published a letter (dated January 16, 2025) from Nikhil Rathi, FCA Chief Executive, sent to the Government, setting out its work to ensure that it is supporting the Government's U.K. growth...more

Skadden, Arps, Slate, Meagher & Flom LLP

PRA and FCA Offer New Guidance on How Changes in Control Will Be Assessed

On 1 November 2024, the UK Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) published a joint policy statement (PS 18/24) on the prudential assessment of acquisitions and increases in control. The...more

A&O Shearman

Regulatory monitoring: EU version Newsletter - December 2024

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1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) International - FSB: Plenary December 2024 - Status: Final - The FSB has set out the outcomes of its Plenary that met on 3 and 4 December. Points of...more

A&O Shearman

Regulatory monitoring - December 2024

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1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) International - FSB: Plenary December 2024 - Status: Final - The FSB has set out the outcomes of its Plenary that met on 3 and 4 December. Points of...more

A&O Shearman

Updated memorandum of understanding on FMI supervision between Bank of England and UK Financial Conduct Authority published

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The Bank of England has published an updated memorandum of understanding between the BoE and the U.K. Financial Conduct Authority on the supervision of markets and financial market infrastructures...more

A&O Shearman

Bank of England Amends Approach to Stress Testing UK Banking System

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The Bank of England has updated its approach to stress testing the U.K. banking system. From 2025 onwards, the BoE will move from an annual to a biennial frequency for its main bank capital stress test...more

A&O Shearman

Bank of England System-Wide Exploratory Scenario Exercise and 2024 Central Counterparty Supervisory Stress Test

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The Bank of England has published the final report on its system-wide exploratory scenario. The SWES was a 'system-wide' exercise, incorporating a wide range of financial firms and business models, focusing not on the...more

A&O Shearman

International Organization of Securities Commissions' Final Report on Post Trade Risk Reduction Services

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The International Organization of Securities Commissions has published its final report on post trade risk reduction services. The report highlights potential policy considerations and risks associated with the using and...more

A&O Shearman

CRT Transactions in the EU, U.K. and the United States

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In this bulletin, we consider the current state of the EU, U.K. and U.S. markets for credit risk transfer (“CRT”) transactions, with a particular focus on the fund finance market. For a more in-depth introduction to this...more

A&O Shearman

Regulatory monitoring: EU version Newsletter - November 2024

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1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) International - FSB: 2024 list of global systemically important banks - Status: Final - The FSB has published a 2024 list of global systemically...more

A&O Shearman

UK FCA proposals to publicise enforcement investigations: Unanswered questions remain

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Last week, the UK Financial Conduct Authority (FCA) unveiled a 'Part 2' consultation paper detailing a revised version of its controversial proposals to publicly name firms under enforcement investigation. This development...more

A&O Shearman

HM Treasury Publishes Prudential Regulation of Credit Institutions (Meaning of CRR Rules and Recognised Exchange) (Amendment)...

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HM Treasury has published the Prudential Regulation of Credit Institutions (Meaning of CRR Rules and Recognised Exchange) (Amendment) Regulations 2024, together with an explanatory memorandum....more

Skadden, Arps, Slate, Meagher & Flom LLP

National Payments Vision: A Strategic Blueprint for the Future of UK Payments

On November 14, 2024, the UK government unveiled its National Payments Vision (the Vision), a strategy designed to reshape the UK’s payments ecosystem. This Vision responds to the findings of the 2023 Future of Payments...more

A&O Shearman

UK Regulators Finalize Rules on Critical Third Parties to the UK Financial Sector

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The Prudential Regulation Authority and Financial Conduct Authority have published a joint policy statement on operational resilience for critical third parties (CTPs) in the U.K. financial sector, which includes their final...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

A&O Shearman

Bank of England Speech on Artificial Intelligence and Financial Stability

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The Bank of England has published a speech by Sarah Breeden, BoE Deputy Governor, Financial Stability, on AI and financial stability. In the speech, Ms. Breeden explores the novel features of Generative AI, and how financial...more

A&O Shearman

Delegated Regulation Amending CRR Postponing Application Date of Own Funds Requirement for Market Risk Published in the OJ

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Commission Delegated Regulation (EU) 2024/2795 amending the EU Capital Requirements Regulation with regard to the date of application of the own funds requirements for market risk has been published in the Official Journal of...more

A&O Shearman

Regulatory monitoring: EU version Newsletter - October 2024

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1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) EU - ESRB: Speech on old and new frontiers of the ESRB: Systemic risk, non-banks and data analysis - Status: Final - The ESRB has published a speech by...more

A&O Shearman

Regulatory monitoring - October 2024

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1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General (i) EU - ESRB: Speech on old and new frontiers of the ESRB: Systemic risk, non-banks and data analysis - Status: Final - The ESRB has published a...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

A&O Shearman

FAQs: FCA “home visits”

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Post-pandemic most firms have settled into permanent hybrid working arrangements. Two years after the FCA published its statement reminding firms of its ability to visit “any location where work is performed […] including...more

A&O Shearman

UK Financial Conduct Authority Publishes Guidance on Approach to Recognition of Funds under the Overseas Funds Regime

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The FCA provides details of the application process and sets out the standards required of funds to be eligible for the regime, including that they are managed in the best interests of investors, hold appropriate investments...more

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