Silicon Valley Bank (SVB), the US’s 16th largest bank, was closed on Friday 10th March 2023. SVB’s UK operations were conducted through its subsidiary, Silicon Valley Bank UK Limited (SVBUK). ...more
The outlook for 2023 looks uncertain, following another tumultuous year. The collapse of a number of large cryptocurrency exchanges has shone another spotlight on the digital asset market. The financial system’s resilience...more
On 9 December 2022, the UK Chancellor of the Exchequer announced a package of reforms to drive growth and competitiveness in the financial services sector in the UK. The series of measures provides a framework for the...more
The UK regulators’ new rules on Operational Resilience enter into force on 31 March 2022. Firms need to ensure that they have identified “important business services” and set “impact tolerances” for those important business...more
At our recent global conference we held in partnership with Global Digital Finance, our keynote speaker suggested that the three major drivers for financial institution regulators and policy makers for the next few years...more
HM Treasury has published its long awaited Future Regulatory Framework (FRF) Review consultation with proposals for reforms to the UK’s financial services regulatory framework to keep it fit for the future and to reflect the...more
On 3 November 2021, the UK Financial Conduct Authority (FCA) published a discussion paper on the UK Sustainability Disclosure Requirements (SDR) together with the long awaited investment labels (DP21/4). These reflect the...more
This week, the Financial Reporting Council (FRC) published the first list of successful signatories of the revamped 2020 UK Stewardship Code (the Code). While we note that the number of successful signatories have fallen this...more
In Tuesday's Report: U.S. Senate to vote on relief package, an analysis of how data protection principles relate to vaccine passports...more
The past six months for me have been exciting and inspirational. I had the privilege of coordinating, together with Dr Kay Swinburne (KPMG), the policy and regulation chapter of Ron Kalifa OBE's report on the UK's Fintech...more
We are delighted to present the Spring 2020 edition of Hogan Lovells’ Debt Capital Markets Global Insights. This draws together a collection of articles from across our global network, reflecting on current events and topical...more
2/24/2020
/ ABS ,
Brazil ,
Capital Markets ,
Capital Requirements Regulation (CRR) ,
Credit Default Swaps ,
Cryptocurrency ,
Debt Market ,
EMIR ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
Green Bonds ,
Investment ,
Investors ,
ISDA ,
Libor ,
Luxembourg Stock Exchange ,
Mexico ,
New Legislation ,
Non-Performing Loans (NPL) ,
Noteholders ,
Regulatory Requirements ,
Securitization ,
SFTR ,
SMCR ,
Sterling Overnight Index Average (SONIA) ,
Sterling Risk-Free Reference Rates (SRFRR) ,
UK
The UK Financial Conduct Authority (FCA) has published Sector Views, its annual report examining how each financial sector is performing....more
2/18/2020
/ Consumer Financial Products ,
Consumer Insurance Products ,
Cyber Crimes ,
Data Management ,
Debt ,
Digital Services ,
E-Money ,
Economic Development ,
Emerging Markets ,
Financial Conduct Authority (FCA) ,
Financial Crimes ,
Financial Markets ,
Financial Services Industry ,
Investment Management ,
Lenders ,
Peer-to-Peer ,
Pensions ,
Regulatory Oversight ,
Regulatory Standards ,
Retail Banks ,
Retirement Plan ,
Scams ,
Small and Medium-Sized Enterprises (SMEs) ,
Trade Relations ,
UK ,
UK Brexit ,
Vulnerable Victims
Irrespective of whether the UK leaves the EU with a withdrawal agreement, interest grows in the future of regulatory policy, the inter-connectivity of international financial services, and how firms from other countries will...more
With Parliament prorogued and the Government suggesting it may ignore legislation obliging it to request a further Brexit extension from Brussels, it remains a possibility that the UK may leave the EU on 31 October 2019...more
9/17/2019
/ Cross-Border Transactions ,
Data Protection ,
EU ,
Financial Services Industry ,
FinTech ,
General Data Protection Regulation (GDPR) ,
Member State ,
No-Deal Brexit ,
Passporting ,
Temporary Permissions Regime (TPR) ,
UK ,
UK Brexit
The Financial Conduct Authority (FCA) has confirmed that the deadline for notifications for the temporary permissions regime (TPR) will be extended to the end of 30 October 2019....more
Whether or not you call that a Free Trade Agreement is academic.
Theresa May said in Florence that we could do so much better than a Canada-style (FTA).
She gave two reasons: we should be more ambitious than that; and...more
The report Industry Sandboxes: A development in Open Collaboration published today is itself the product of industry-wide collaboration – initiated by an invitation from the UK's Financial Conduct Authority (FCA) to Innovate...more
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
4/24/2017
/ BSA/AML ,
Cybersecurity Act of 2015 ,
Distributed Ledger Technology (DLT) ,
EU Market Abuse Regulation (EU MAR) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Markets ,
Financial Services Industry ,
FinTech ,
Innovative Technology ,
Investment Management ,
MiFID II ,
MiFIR ,
Pensions ,
Popular ,
Retirement ,
Senior Management Regime (SMR) ,
Small and Medium-Sized Enterprises (SMEs) ,
Technology ,
UK ,
UK Competition and Markets Authority (CMA)
In a speech that was ostensibly on the progress of the Capital Markets Union, Steven Maijoor, the Chair of the European Securities and Markets Authority ("ESMA") announced, that ESMA is planning possible measures to avoid a...more
4/19/2017
/ Article 50 Treaty of the EU ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Institutions ,
Financial Markets ,
Member State ,
Referendums ,
Regulatory Oversight ,
Relocation ,
UK ,
UK Brexit
Sandboxes featured as a common refrain at the Innovate Finance Global Summit 2017, cropping up as routes to success in FinTech innovation in various guises. Innovate Finance and MIT Connection Science joined forces to lead a...more
The main focus of the commentary so far has been on the references to security (in the Article 50 notice) and the references to Gibraltar (in the EU response).
What though does this mean for the Financial Services...more
Does CETA provide a workable model for market access in the financial services industry? At the risk of spoiling the plot: no, not really. What does the industry mean when it says it wants market access?...more
4/3/2017
/ Article 50 Treaty of the EU ,
Canada ,
CETA ,
Cross-Border ,
EU ,
European Economic Area (EEA) ,
Financial Institutions ,
Financial Services Industry ,
Most-Favored Nations ,
Passporting ,
Trade Agreements ,
UK ,
UK Brexit
Hogan Lovells has collaborated with TheCityUK and The City of London Corporation's co-sponsored International Regulatory Strategy Group (IRSG), to launch a new report looking at the options for Financial Institutions in the...more
We're just back from our second visit to the Davos 'fringe' with Innovate Finance and several FinTech momentum players. Numerous events and discussions on a wide range of topics take place alongside the main World Economic...more
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
1/13/2017
/ Banking Sector ,
Bitcoin ,
Blockchain ,
BSA/AML ,
Data Protection ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
General Data Protection Regulation (GDPR) ,
Insolvency ,
Insurance Industry ,
Investment Funds ,
Key Information Document (KIDs) ,
Limited Partnerships ,
MiFID II ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Personal Data ,
Popular ,
PSD2 ,
RegTech ,
UK ,
UK Brexit ,
UK Competition and Markets Authority (CMA) ,
Virtual Currency