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United Kingdom European Union Investment Firms

Cadwalader, Wickersham & Taft LLP

Amid Chaos, Regulatory Change Continues Apace, March 2025 - Lessons From the FCA’s Fine of Infinox Capital

The FCA has fined Infinox Capital, a London-based broker, for breach of MiFIR transaction reporting requirements. Infinox failed to submit reports for some 46,053 transactions executed by its single-stock CFD (contract for...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

UK Prudential Regulation Authority Consults on Restatement of UK Capital Requirements Regulation Rulebook Requirements

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The U.K. Prudential Regulation Authority has published a consultation on its proposals to restate, and in some cases modify, the U.K. Capital Requirements Regulation requirements relating to the definition of own funds in its...more

K&L Gates LLP

Digital Operational Resilience in the Financial Services Sector: EU and UK Update

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With under six months to go until the European Union Digital Operational Resilience Act (DORA) becomes applicable on 17 January 2025, DORA implementation projects are running full steam ahead. DORA lays down uniform...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Capital Ratio: Roundup of Upcoming UK Regulatory Reforms for Financial Institutions

UK regulators have recently announced a number of reforms for banks and other financial institutions. - On 23 November 2023, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) (together,...more

A&O Shearman

FCA and PRA consultation on D&I in financial services: which firms are captured and how

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The extent to which firms are captured by the UK Financial Conduct Authority (FCA) and Prudential Regulation Authority’s (PRA) proposals to implement a new regime for diversity and inclusion (D&I) in financial services...more

Proskauer Rose LLP

Regulation Round Up - Insights - August 2023

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Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more

Proskauer Rose LLP

Regulation Round Up - July 2023

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31 July - ESG: The European Commission adopted a Commission Delegated Regulation, setting out the first set of European Sustainability Reporting Standards (“ESRS”), together with a Q&A (see press release). The ESRS specify...more

Proskauer Rose LLP

Regulation Round Up - June 2023

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MiFIR / MiFID II: The European Parliament published a press release announcing it has reached provisional political agreement with the Council of the EU on the proposed amendments to the Markets in Financial Instruments...more

A&O Shearman

UK Government Publishes Brexit Freedoms Bill Setting Deadline for Revocation of EU Law

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The U.K. Government has published the Retained EU Law (Revocation and Reform) Bill, known as the Brexit Freedoms Bill, which aims to repeal or assimilate retained EU law and abolish the principle of the supremacy of EU law in...more

Goodwin

Buying a UK Crypto Business: The New Regulatory Hurdles

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​​​​​​​The advance of the regulation of crypto-assets and crypto-related service providers has been piecemeal in the U.K. The latest round of changes took place in the Money Laundering Regulations 2017 (MLR) on 1 September...more

Goodwin

ESMA Cloud Outsourcing Guidelines – Practical Points for Cloud Service Providers and Regulated Entities

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The European Securities and Markets Authority (“ESMA”) Final Report Guidelines on outsourcing to cloud service providers (“the Guidelines”) came into force on 31 July 2021 and apply to all cloud outsourcing arrangements...more

Latham & Watkins LLP

10 Key Focus Areas for UK-Regulated Financial Services Firms in 2022

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Environmental, social, and governance (ESG) considerations have come to the forefront of firms’ regulatory change agendas in recent years, and this focus looks set to continue in 2022. The past year has witnessed significant...more

K&L Gates LLP

Navigating the European ESG Disclosure Regime in a Post-Brexit World

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Following increased public attention to the global sustainability agenda, investors, public institutions, and companies around the world are increasingly prioritizing environmental, social, and governance (ESG) measures as...more

Latham & Watkins LLP

Brexit & Financial Services: Preparing for the End of the Transition Period

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With the end of the Brexit transition period looming, many financial services firms are asking what they need to do between now and the end of the year to ensure regulatory compliance. In this episode of our Connected With...more

Proskauer Rose LLP

UK Financial Services Regulators Publish Joint Statement Relating to Timing for Implementation of the UK’s Investment Firms...

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On 16 November 2020, the United Kingdom Financial Conduct Authority (“FCA”) published a statement in conjunction with HM Treasury, Prudential Regulation Authority (“PRA”) providing an update on timelines for introducing the...more

Latham & Watkins LLP

FCA Consults on Post-Brexit Prudential Regime for Investment Firms

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Important changes ahead for investment firms as the FCA’s Discussion Paper (DP20/2) indicates that the UK may depart from EU capital rules. Key Points: ..FCA consults on a UK capital regime that in some respects breaks...more

A&O Shearman

ESMA’s Post-Brexit Regime for UK Investment Firms—‘Equivalence’ or Direct Regulation?

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The European Union’s financial regulatory regime for third-country access in many sectors relies on a framework of “equivalence,” whereby institutions based in approved non-EU countries with similar standards may have varying...more

Akin Gump Strauss Hauer & Feld LLP

In Principle: 10 Things Authorised Firms Need to Know for 2020

Welcome to the 2020 edition of In Principle. With the United Kingdom (UK) leaving the European Union (EU) on31 January 2020, and moving into a transition period which will last until 31 December 2020, Brexit of courselooms...more

Latham & Watkins LLP

Crypto Coming of Age: UK Regulation Hits Cryptoasset Business

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New regulatory requirements, including registration and customer disclosure requirements, apply to regulated and unregulated persons carrying on relevant cryptoasset business. On 20 December 2019, the UK government published...more

Latham & Watkins LLP

10 Key Regulatory Focus Areas for UK/European Wholesale Markets in 2020

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In last year’s publication and in our mid-year progress report, we highlighted the top regulatory focus areas for our clients during 2019, concentrating on wholesale market structures and conduct risk. This publication...more

A&O Shearman

The New EU Law on Intermediate Holding Companies for Third-Country Banking Groups

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Non-EU banking groups (“non-EU groups”) with large EU operations will be required to establish an EU intermediate parent undertaking (“IPU”) according to the final changes to the Capital Requirements Directive (“CRD 5”)...more

A&O Shearman

UK Regulators Confirm Approach to Authorization and Supervision of International Banks, Investment Firms, Insurers and CCPs Under...

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Following the announcement on March 19, 2018 that a transitional period for Brexit had been agreed between the U.K. and the EU, the U.K. regulators have published statements setting out their expectations regarding firms'...more

A&O Shearman

UK Regulator Requests Brexit Contingency Planning Assurance

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The Prudential Regulation Authority has published a letter to CEOs and branch managers of all banks, insurers and designated investment firms undertaking cross-border activities between the UK and the remainder of the EU,...more

Proskauer Rose LLP

Regulation Round Up - February 2017

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The FCA and PRA announced changes to enforcement process with the aim of strengthening the transparency and effectiveness of enforcement decision-making processes. Some of the changes have already come into force, the rest...more

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