The Standard Formula Podcast | Solvency II Back to Basics: Third Country Branches and Cross-Border Provision of Services
The European Central Bank and the European Banking Authority have published a joint report on payment fraud data. The report assesses payment fraud reported by the industry across the EEA and covers semi-annual data reported...more
The Financial Services and Markets Act 2000 (Overseas Funds Regime) (Equivalence) (European Economic Area) Regulations 2024 (SI 2024/635) were made on May 13, 2024 and enter into force on July 16, 2024. Established by the...more
(Re)insurance is a global business. It is common for (re)insurance groups to operate in a range of jurisdictions via: i. locally incorporated and authorised subsidiaries, ii. local branches of third country...more
The European Commission recently released the heavily anticipated terms and conditions for its initial European Hydrogen Bank (EHB) auction. The structure of this subsidy scheme is of great interest to green hydrogen...more
Jacqueline Cook, Senior Knowledge Development Lawyer at Sullivan's London office, broke ground on our first Trade & Export Finance Webinar of 2021, held on 21 January, and the EU-UK Trade and Cooperation Agreement (the TCA)...more
Amendments have been made to the FCA’s Dual-Regulated firms Remuneration Code under SYSC 19D and the Remuneration Part of the PRA Rulebook (together the “Remuneration Codes”) to implement the remuneration aspects of the EU...more
Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 - On 3 December, the Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 were published, together with an explanatory memorandum. The...more
Open banking is an important driver of the fintech revolution. Regulators have recognised open banking as a means of introducing competition and innovation in the banking sector. Likewise, fintechs are seizing the...more
LIBOR transition and PRA resolution-related rules: PRA statement - The UK Prudential Regulation Authority (PRA) has published a statement outlining the PRA's view on the implications of LIBOR transition for contracts in...more
Recent regulatory developments of interest to financial institutions and markets. Includes updates on UK recognition applications for EEA CSDs and more....more
HM Treasury has published the Equivalence Determinations for Financial Services and Miscellaneous Provisions (Amendment etc) (EU Exit) Regulations 2019, providing U.K. government ministers with a temporary power to make...more
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
Banca d'Italia, con il Provvedimento del 26 marzo 2019, ha emanato le nuove "Disposizioni in materia di organizzazione, procedure e controlli interni volti a prevenire l'utilizzo degli intermediari a fini di riciclaggio e di...more
HM Treasury has laid before Parliament a draft of the Equivalence Determinations for Financial Services and Miscellaneous Provisions (Amendment etc) (EU Exit) Regulations 2019. The draft Regulations grant HM Treasury...more
In this month's edition of our Privacy & Cybersecurity Update, we examine a declaration on ethical considerations for artificial intelligence, the annual joint review of the Privacy Shield, a new lawsuit from a snack food...more
The Prudential Regulation Authority has issued a Direction setting out how an EEA firm currently passporting into the U.K. should notify the PRA if the firm wants to benefit from the Temporary Permissions Regime in the event...more
Antitrust and Competition - Transactions in the digital sector and acquisition of data continue to attract scrutiny in Europe - On 6 September 2018, the European Commission cleared without conditions the proposed acquisition...more
In this Special Report, we have briefly outlined some of the main legal implications of Brexit according to different models, including the European Economic Area (EEA) model. In light of comments made by Theresa May, it...more
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
The Bank of England, the Prudential Regulation Authority and the Financial Conduct Authority have published consultations and planning considerations affecting international banks, investment firms, insurers and CCPs...more
In our latest memorandum, we have briefly outlined some of the main legal implications of Brexit according to different models, including the EEA model. In light of recent comments made by Theresa May, it is unlikely that...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
A monthly newsletter covering topics of interest in the field of UK corporate law including mergers and acquisitions, listed companies, equity capital markets, corporate governance and general company law. ...more
- AXA Prevails at First Post-Jones v. Harris Excessive Fee Trial - Potential Secondary Effects of Regulatory Examinations: Evidentiary Issues and Preclusion in Parallel Litigation - On The Horizon: Global...more
In Depth - UK Withdrawal Process - The United Kingdom will continue to be an EU member until procedures are completed for exiting the European Union, which is likely to be a long process. Under EU Treaty rules,...more