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Regulatory Agenda Financial Regulatory Reform Bank of England

A&O Shearman

PSR annual plan and budget

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The UK Payment Systems Regulator (PSR) has published its annual plan and budget for 2025/26. The foreword by Aidene Walsh, Chair of the PSR, references the government's announcement to incorporate the PSR into the FCA and...more

A&O Shearman

BoE reports on digital pound developments and implementation

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The Bank of England (BoE) has published a series of documents regarding its work on implementing the digital pound. The Digital Pound Experiment Report on Offline Payments assesses the technical feasibility of implementing an...more

A&O Shearman

UK government and regulators support the UK's move to T+1

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Representatives of the UK government and regulators spoke at the UK T+1 Accelerated Settlement Market industry event to confirm their support of the UK's move to a T+1 settlement cycle. The Economic Secretary to the Treasury...more

Hogan Lovells

The regulation of FMI - The Bank of England’s priorities for 2025

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The Bank of England has outlined its priorities for 2025 in the regulation of Financial Market Infrastructure. In a speech given on 10 February 2024, the Bank of England (the “Bank”) outlined its priorities for 2025 in the...more

Sullivan & Worcester

Prudential Regulatory Authority delays UK implementation of Basel 3.1 to 2027

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In response to global uncertainty the Bank of England’s Prudential Regulation Authority (PRA) has further delayed the implementation of the Basel 3.1 standards in the UK to 1 January 2027. This delay comes just four months...more

Hogan Lovells

Comparative Guide: DLT and Innovations in Wholesale Settlement in Central Bank Money (UK)

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In our previous Comparative Guide, we explored innovations in private forms of digital money and money-like instruments available to retail customers, including fiatreferencing stablecoins, e-money and tokenised deposits. As...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

Bank of England Updates Approach to Financial Market Infrastructure Supervision

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The Bank of England has updated its approach to financial market infrastructure supervision. The BoE states that its approach to supervision continues to be underpinned by four core principles: (i) its supervisors rely on...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

Mansion House: National Payments Vision

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HM Treasury has published the National Payments Vision, outlining the government's plans for bolstering the U.K. payments sector. The Vision, which is an integral part of the latest Mansion House reforms, responds to the...more

A&O Shearman

UK Policy Statement and Final Guidance on the Digital Securities Sandbox

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The Bank of England and Financial Conduct Authority have published a joint policy statement providing feedback to responses received to the Digital Securities Sandbox joint consultation (CP24/5). We discussed the proposals in...more

Skadden, Arps, Slate, Meagher & Flom LLP

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

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

Hogan Lovells

Banking and finance regulatory news, April 2021 # 4

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BoE stress testing: 2021 Climate Biennial Exploratory Scenario update - Reports on key recent regulatory developments focussing on banking and finance. See also our Financial institutions general regulatory news and other...more

Hogan Lovells

Payments regulatory news, April 2021 # 3

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Recent regulatory developments focussed on the payments sector. Reports on a BoE update on its policy for omnibus accounts in its RTGS service, and an LSB update on the CRM Code for APP scams. ...more

Hogan Lovells

Payments regulatory news, April 2021 # 2

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Omnibus accounts for payment systems operators and prefunding accounts: BoE update - The Bank of England (BoE) has updated its webpage on payment and settlement to add the following new sections to the information provided in...more

Hogan Lovells

Banking and finance regulatory news, April 2021 # 2

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COVID-19: BoE statement on regulatory treatment of Recovery Loan Scheme - The Bank of England (BoE) has published a statement on the regulatory treatment of the UK Recovery Loan Scheme (RLS), which has been launched as part...more

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