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UK Competition and Markets Authority (CMA) United Kingdom Financial Services Industry

A&O Shearman

UK CMA review of the SME Banking Undertakings 2002

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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

Paul Hastings LLP

AFME EU and UK Approaches to Greenwashing Enforcement in the Financial Market: A Comparison

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The briefing contains a mapping exercise and analysis of the approach taken by the European Supervisory Authorities and the U.K.’s Financial Conduct Authority to address risks or concerns relating to such greenwashing. The...more

K&L Gates LLP

Brussels Regulatory Brief: November 2024

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On 29 October 2024, the European Union and the UK government finalized the technical discussions on a competition cooperation agreement. This agreement will enable closer cooperation between the UK Competition and Markets...more

Hogan Lovells

UK Open Banking: PSR consultation response on Phase 1 expansion of Variable Recurring Payments

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The Payment Systems Regulator (PSR) has published a response to its December 2023 consultation (call for views) which set out initial proposals on how the PSR could support the expansion of Variable Recurring Payments (VRPs)...more

A&O Shearman

UK Payment Systems Regulator Publishes Response to Call for Views on Expanding Variable Recurring Payments

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The U.K. Payment Systems Regulator has published a response to its call for views on proposals for the expansion of variable recurring payments. VRPs allow customers to safely connect authorised payment providers to their...more

Morgan Lewis

UK Financial Conduct Authority Adopts New Anti-Greenwashing Rule and Guidance

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The UK Financial Conduct Authority (FCA) recently adopted a new anti-greenwashing rule, alongside supplemental guidance, requiring that financial service businesses regulated by the FCA ensure that any sustainability claims...more

White & Case LLP

UK financial services sector on track for wave of consolidation

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Dealmaking in the global financial services sector posted an uptick in activity during the first quarter of the year. This rebound is especially significant given the market headwinds the sector has faced over the past few...more

A&O Shearman

UK Proposes Design of the Future Entity for UK Open Banking

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On April 19, 2024, the U.K.'s Joint Regulatory Oversight Committee published proposals on the design of the future entity for UK Open Banking. The JROC is composed of the Financial Conduct Authority, the Payment Systems...more

Jones Day

UK CMA Continues Focus on Groceries with Market Study into Baby Formula

Jones Day on

The UK Competition and Markets Authority ("CMA") launched a market study on 20 February 2024 into baby formula, the latest development in a broader focus on the food and grocery sector....more

Wilson Sonsini Goodrich & Rosati

JROC Publishes Report on Future of Open Banking in the UK

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

A&O Shearman

Key Regulatory Topics: Weekly Update 19 - 25 March 2021

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HoL EU Services Sub-Committee report on trade in services On 24 March, the HoL European Union Committee published a new report on UK-EU trade in services. The report concludes that despite the agreement of the Trade and...more

Hogan Lovells

Financial institutions general regulatory news, March 2021 # 5

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CMA 2021/22 annual plan - The Competition and Markets Authority (CMA) has published its annual plan for 2021/22. In 2021/22, the CMA will focus on the following themes...more

Hogan Lovells

Consumer finance regulatory news, February 2021 # 3

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Payday Lending Market Investigation Order 2015: CMA summary of borrowing template - The Competition and Markets Authority (CMA) has published a template of a summary of borrowing statement, to be used by lenders to comply...more

Latham & Watkins LLP

HM Treasury Responds to the Call for Evidence on Regulatory Coordination

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Financial Services Regulatory Initiatives Forum and the Regulatory Initiatives Grid to be introduced this summer. On 11 March 2020, HM Treasury published its response to the Call for Evidence on Regulatory Coordination....more

A&O Shearman

Key Regulatory Topics: Weekly Update 6 September 2019 - 12 September 2019

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BREXIT - FCA steps up efforts to ensure that firms are ready for a no-deal Brexit - On 11 September, the FCA issued a press release providing additional information for firms on preparations for a no-deal Brexit. To...more

Proskauer Rose LLP

Regulation Round Up - April 2019

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1 April - The Financial Conduct Authority ("FCA") published a statement announcing that it is commissioning an investigation by an independent person into the issues raised by the failure of London Capital & Finance....more

A&O Shearman

Key Regulatory Topics: Weekly Update 8 March - 14 March 2019

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BREXIT - On 7 February, ordinance no. 2019-75 relating to the preparatory measures in connection with the United-Kingdom’s withdrawal from the European Union in respect of financial services (the Ordinance) was published. ...more

A&O Shearman

Key Regulatory Topics: Weekly Update 22 February to 28 February 2019

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BREXIT- Financial Services Contracts (Transitional and Saving Provision) (EU Exit) Regulations 2019 made On 28 February, the Financial Services Contracts (Transitional and Saving Provision) (EU Exit) Regulations 2019 were...more

A&O Shearman

UK Competition and Markets Authority Consults Further on Aspects of the Investment Consultants Market Investigation

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The U.K. Competition and Markets Authority has published three more consultative working papers as part of its Investment Consultants Market Investigation. The CMA is assessing the supply and acquisition of investment...more

A&O Shearman

UK Competition Authority Consults on Trustee Engagement With Investment Consultancy and Fiduciary Management

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The U.K. Competition and Markets Authority has published a working paper seeking views on its initial analysis on trustee engagement with investment consultancy and fiduciary management service providers. This is the fourth...more

Proskauer Rose LLP

Regulation Round Up - March 2018

Proskauer Rose LLP on

1 March - The Financial Conduct Authority ("FCA") published general insurance value measures data in relation to 36 insurers (including both UK and EEA firms) for the year ending 31 August 2017. The data is aimed at...more

A&O Shearman

UK Competition and Markets Authority Highlights Potential Issues in Investment Consultancy and Fiduciary Management

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Following a market investigation reference from the Financial Conduct Authority, the Competition and Markets Authority has published the issues statement for the market investigation it is carrying out into the supply of...more

A&O Shearman

UK Financial Conduct Authority Makes Market Investigation Reference for Investment Consultancy and Fiduciary Management Services

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The Financial Conduct Authority has made a market investigation reference to the Competition and Markets Authority in relation to investment consultancy and fiduciary management services. The institutional investors who use...more

Hogan Lovells

Planning ahead: the FCA's 2017/18 Business Plan priorities and strategic framework

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The FCA's latest Business Plan demonstrates a commitment to pushing forward on both existing and new initiatives across sectors, focused on maintaining fair consumer outcomes in the rapidly changing UK financial services...more

Hogan Lovells

Expect the Unexpected: The Year Ahead for the Financial Institutions Sector

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With contributors across the sector and the globe, we've compiled a review of some of the developments that will affect financial institutions in 2017 and beyond. The one thing that 2016 taught us was to expect the...more

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