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CFPB’s Section 1071 Final Rule (Part 1): A General Overview - The Consumer Finance Podcast
The UK's Competition and Markets Authority (CMA) has confirmed its decision to review the remaining SME Banking Undertakings 2002 and has launched its consultation seeking views on whether the undertakings need to be updated....more
A precedent-setting ruling has been issued in the case of Bizi Finance Ltd., in which the court was required to determine whether a promissory note signed electronically could be enforced through the enforcement and...more
The House of Commons Treasury Committee has published a letter (dated December 6, 2024) from Nikhil Rathi, Chief Executive of the Financial Conduct Authority, regarding the FCA's perimeter report. In the letter, Mr. Rathi...more
The U.K. government has published its response to the Treasury Committee report on access to financing for small businesses. The report, by the Treasury Select Committee of the previous Parliament, made recommendations...more
On 14 November 2024, a number of amendments to: the Prospectus Regulation (Regulation (EU) 2017/1129) ("PR"); the Market Abuse Regulation (Regulation (EU) No 596/2014) ("MAR"); and the Markets in Financial...more
Alongside the U.K government's Autumn Budget delivered on October 30, 2024, HM Treasury has published two post-implementation reviews relating to small- and medium-sized enterprise credit....more
The Council of the European Union has adopted the Listing Act legislative package, marking the final step in the decision-making process. The package consists of: (i) a regulation amending the Prospectus Regulation, Market...more
Despite some adjustments to the proposed guardrails, the FCA has largely retained its original approach. On 26 July 2024, the FCA published its final rules on payment optionality for investment research (PS24/9)....more
In April 2024, the UK government reiterated its vision for open finance, with UK Economic Secretary Bim Afolami (MP) announcing the creation of the Open Finance Taskforce at the 2024 Innovate Finance Global Summit. The...more
El Ministerio de Hacienda y Crédito Público (MHCP) de Colombia publicó para comentarios un proyecto de decreto por medio del cual busca expandir el acceso a fuentes de financiación por parte de pequeñas y medianas empresas...more
On February 13, 2023, as part of the European Commission’s Strategy for financing transition to a sustainable economy, the European Banking Authority (EBA) launched an industry survey seeking input on green loans and...more
On 3 February 2023, the FCA published portfolio letters setting out its expectations to support firms in implementing the Consumer Duty. The letters highlight its areas of focus for each sector, as well as sector-specific...more
There are widely varying opinions on blockchain and cryptocurrency. Corporate and TMT expert Nicholas Kuria recently spoke to Africa Legal about the impacts of the technology on business, nations and lawyers. Originally...more
In its 2020/21 Business Plan, the FCA states its aim to move towards a regulatory approach that's increasingly focused on end outcomes for consumers, markets and firms. The Business Plan reflects this approach, honing in on...more
We describe below the legal impact on Italian loan transactions of the current health emergency caused by COVID-19 in light of the latest legislative measures, including a suspension of interest and principal payments on...more
The UK Financial Conduct Authority (FCA) has published Sector Views, its annual report examining how each financial sector is performing....more
One year on from Australia's Royal Commission on Banking - The report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (the Report), was published one year ago....more
Valdis Dombrovskis has a full in-tray that includes securing the EU banking and capital markets union as he begins his term at the European Commission. The new President of the European Commission, Ursula von der Leyen,...more
The Financial Stability Board has published its final report on the impact of financial regulatory reforms on the provision of financing to small- and medium-sized enterprises. The report follows the FSB’s consultation in...more
Round-up: Indonesia is our new quarterly newsletter, rounding up all the latest legal updates and events in Jakarta. ...more
From 1 April 2019 two significant changes take effect: - The jurisdiction of the FOS is extended to cover small and medium-sized enterprises, certain charities and trusts and personal guarantors; and - The FOS award...more
Recently, Abu Dhabi Global Market (ADGM), an international financial centre in Abu Dhabi, announced the launch of a new regulatory framework (the Framework) for operators of Private Financing Platforms (PFPs). PFPs will...more
On 5th July 2018, Hogan Lovells hosted its 5th annual Africa Forum themed "Africa Fit for the Future". One of the key sector sessions was led by Shalini Bhuchar, an asset finance partner, who chaired a panel of leading...more
The European Parliament has adopted a non-legislative resolution entitled "distributed ledger technologies and blockchains: building trust with disintermediation." Of particular relevance to the financial services sector, the...more
U.S. Financial Industry Developments - CFTC Reduces Risk for Customer Funds Held by Derivatives Clearing Organizations by Expanding Investment Options - On July 19, 2018, the Commodity Futures Trading Commission (the...more