News & Analysis as of September 21, 2024

Financial Conduct Authority (FCA)

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The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -

Joining the Dots - Will the UK’s New Critical Third Party Rules Truly Move the Dial for Financial Institutions?

BCLP on 2/12/2024

The announcement in 2021 of the intention to implement new rules directly targeting the types of tech service provider relied on by most financial institutions may be a necessary corrective given the heavy market...more

Doing Fintech Business in the UK: Regulatory Q&A for US and Other Non-UK Businesses

Goodwin on 5/1/2023

With more fintech’s looking to expand their businesses internationally, it can be daunting to navigate varying regulations across borders. This article focuses on regulations in the United Kingdom....more

How to Handle a Cross-Border Anticorruption Investigation

American Conference Institute (ACI) on 4/18/2023

Juggling conversations with multiple enforcement agencies simultaneously in the course of a cross-border anticorruption investigation can be a difficult and daunting task for legal and compliance teams. Getting it right can...more

Recent Developments for UK PLCs

Latham & Watkins LLP on 2/13/2023

This first edition of 2023 covers recent guidance from the FCA’s Primary Market Bulletin 42 and Market Watch 71, major changes to the Takeover Code’s “acting in concert” presumptions, an FCA penalty for publishing misleading...more

FCA Confirms New Rules to Improve Oversight of Appointed Representatives - Insights

Proskauer Rose LLP on 8/16/2022

On 3 August 2022, the UK’s Financial Conduct Authority (“FCA”) published a policy statement (PS22/11) on improvements to the appointed representatives (“ARs”) regime. The FCA consulted on amendments to the AR framework in...more

European Digital Compliance: Key Digital Regulation & Compliance Developments - April 2022

Morrison & Foerster LLP on 4/11/2022

To help organisations stay on top of the main developments in European digital compliance, Morrison & Foerster’s European Digital Regulatory Compliance team reports on some of the main European digital regulatory and...more

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

Latham & Watkins LLP on 1/6/2022

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

[Event] Anti-Corruption London - November 2nd - 3rd, London, United Kingdom

American Conference Institute (ACI) on 6/30/2021

C5's 15th International Conference on Anti-Corruption London will take place November 2 – 3, 2021 in Millennium Hotel London Knightsbridge, London. Join your peers for the IN-PERSON reunion of the legal and compliance...more

LIBOR: Q1 2021 Snapshot

McDermott Will & Emery on 3/10/2021

On 5 March 2021, the Financial Conduct Authority (FCA) set out certain key dates for the cessation of all 35 London Inter-Bank Offered Rate (LIBOR) settings published by ICE Benchmark Administration. Whilst there has been...more

LIBOR: Time to put your foot down

Dechert LLP on 7/31/2020

Andrew Bailey’s most recent speech on LIBOR transition (now in his new capacity as Governor of the Bank of England) likened the transition away from LIBOR to the game of cricket...more

Financial Services Quarterly Report - Fourth Quarter 2019: To Compliance and Beyond: the Central Bank’s Forward View for 2020

Dechert LLP on 1/21/2020

A recent Dechert OnPoint, No Reward for Good Behaviour: The Central Bank’s Approach to Enforcement, examined new guidance of the Central Bank of Ireland (Central Bank) regarding the enforcement process involving non-compliant...more

Crypto Coming of Age: UK Regulation Hits Cryptoasset Business

Latham & Watkins LLP on 1/13/2020

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

Financial Daily Dose 12.20.2019 | Goldman nearing $2B deal with DOJ to resolve 1MDB scandal claims

Robins Kaplan LLP on 12/20/2019

Goldman Sachs is reportedly in negotiations with federal prosecutors to resolve claims about its role in the Malaysian 1MDB scandal for upwards of $2 billion. A settlement—which “could include a guilty plea from Goldman’s...more

Trends in Outsourcing Regulation and Supervision in Financial Services

Latham & Watkins LLP on 10/21/2019

Insights from Latham’s flagship event: Managing the risk and promise of digitisation in financial services - The financial services industry is leading the way in outsourcing, with contract values in excess of US$10.7...more

Cross-Border Investigations Update - September 2019

Skadden, Arps, Slate, Meagher & Flom LLP on 10/3/2019

This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including a review of the first year of GDPR enforcement, analysis of...more

Governance & Securities Law Focus: Europe Edition - July 2019

A&O Shearman on 7/18/2019

Below is a summary of the main developments in US and EU corporate governance and securities law and certain financial markets regulation developments since our last update in April 2019. ...more

Private Bank Briefing: Issues Impacting the Private Bank Sector - June 2019

Latham & Watkins LLP on 6/27/2019

The FCA and the PRA published their Business Plans for 2019/20 in April 2019. FCA Priorities - As expected, with Brexit remaining a key focus, there are few new initiatives for this year. The FCA’s Business Plan sets...more

Private Banking Newsletter: Issues Impacting the Private Bank Sector

Latham & Watkins LLP on 6/26/2018

The FCA’s Business Plan for 2018/19, published on 9 April 2018, outlined key priorities for the upcoming year. Although the Business Plan revealed that the FCA’s Brexit-related workload will mean a dearth of new initiatives,...more

Asset managers’ guide to the EU Market Abuse Regulation: will you be compliant on 3 July 2016?

King & Spalding on 6/13/2016

The EU Market Abuse Regulation (596/2014) (“MAR”) applies from 3 July 2016. This guide is intended as an aid to asset managers in assessing, in the weeks running up to 3 July but also on an ongoing basis, whether amendments...more

FCA and Ofgem Question Adequacy of Commodity Firms’ Compliance and Market Abuse Controls

Cadwalader, Wickersham & Taft LLP on 9/11/2015

In the most recent edition of its regular market conduct and transaction reporting-focused ‘Market Watch’ publication, the UK Financial Conduct Authority (“FCA”) provides a review of commodities firms’ compliance and...more

Corporate and Financial Weekly Digest - Volume IX, Issue 34

Katten Muchin Rosenman LLP on 9/2/2014

In this issue: - Oregon State Court Refuses to Enforce Forum Selection Bylaw - SEC Announces Pilot Program to Widen Tick Sizes for Smaller Companies - NFA Issues Notice Setting Effective Date for Risk...more

Corporate and Financial Weekly Digest - Volume IX, Issue 33

Katten Muchin Rosenman LLP on 8/25/2014

In this issue: - ISS Launches New Equity Plan Data Verification Portal - ISDA Publishes Protocol for 2014 Credit Derivatives Definitions - FinCEN Issues Advisories for US Financial Institutions -...more

No KIIDing - Hefty Fine from UK Regulator Underlines Importance of Compliance by UCITS

Dechert LLP on 6/7/2014

A fine of over £18 million was recently imposed by the UK regulatory body, the Financial Conduct Authority (the “FCA”), on a fund manager for a range of compliance breaches, including failing to ensure that its KIIDs were...more

Orrick's Financial Industry Week In Review

Orrick, Herrington & Sutcliffe LLP on 6/3/2014

Council of EU Publishes Compromise Proposal on ELTIF Regulation - On May 27, the Council of the EU published a compromise proposal (10215/14), dated May 23, 2014, in respect of the European Commission's proposed...more

FCA Publishes Final Guidance on AIFMD Remuneration Requirements

Akin Gump Strauss Hauer & Feld LLP on 2/3/2014

This alert will be of interest to FCA-authorised investment management firms that are registering, or are currently considering registering, as alternative investment fund managers (“AIFMs”). ...more

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