Financial Services Authority › Prudential Regulation Authority

The Financial Services Authority is an independent financial regulatory body within the United Kingdom. The FSA establishes standards for most financial services markets, exchanges, and firms and pursues legal... more +

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News & Analysis as of May 21, 2013

Has the FCA started as it means to go on?

by Neil Gerrard, Miriam Gonzalez | Dechert LLP on 5/18/2013

Has the Financial Conduct Authority (“FCA”) in the UK started as it means to go on? The FCA recently fined a UK subsidiary of a private Swiss Bank for failing to establish and maintain effective anti-money laundering controls...more

FCA Urges Firms to Update Status Disclosures to Reflect Creation of the FCA and PRA

by Orrick - Structured Finance Group on 5/9/2013

On May 1, the FCA published a press release stating that it expects firms to review their regulatory status disclosures as a priority and ensure that they are up to date and accurate following the creation of the FCA and PRA...more

Corporate Aspects of the UK Financial Services Act 2012

by Sergey Kvitkin, Iain Wright, William Yonge | Morgan Lewis on 4/12/2013

Long-heralded reform of the UK financial services regulation architecture impacts the listed company regime. On 1 April, a new financial regulation architecture became operative in the UK through the Financial...more

New UK Financial Regulation Architecture Takes Effect

by William Yonge | Morgan Lewis on 4/8/2013

The Financial Conduct Authority and the Prudential Regulation Authority begin work as the two new regulators in the wake of the long-heralded abolition of the Financial Services Authority....more

The UK’s New Financial Services Act – a Guide to the Main Changes

by Carmen Reynolds, Stuart Willey | White & Case LLP on 3/28/2013

The UK’s Financial Services Act 2012 (the Act) will come into force on 1 April 2013. On implementation, the Act will amend many of the UK’s existing financial services legislative measures and give effect to several of the...more

Some UK Banks Need More Capital

by Felix Shipkevich | Shipkevich PLLC on 3/14/2013

Andrew Bailey, Head of the UK Prudential Regulation Authority, told Parliament’s Treasury Select Committee that some banks need more capital. Reuters reports that some of Britian’s largest banks need more cpaital, but the...more

UK Financial Services Authority Releases Draft Handbooks for New Regulators

by Iain Wright, William Yonge | Morgan Lewis on 3/12/2013

Handbooks for Financial Conduct Authority and Prudential Regulation Authority will replace FSA Handbook on 1 April. On 8 March, the UK Financial Services Authority (FSA) published draft handbooksfor the two new...more

FSA Updates Guide to the New PRA and FCA Handbooks

by Tim Aron, Edward Black | Katten Muchin Rosenman LLP on 2/27/2013

On February 19, the UK Financial Services Authority (FSA) published an updated “one-minute guide” summarizing the changes to the FSA Handbook that will come into effect when the FSA’s two successor regulatory bodies, the...more

Preparing for UK Regulatory Change: An Overview of the New Framework

by Tim Aron, Edward Black, Carolyn H. Jackson, Nathaniel W. Lalone | Katten Muchin Rosenman LLP on 12/20/2012

In the aftermath of the 2008 financial crisis, all of the major political parties in the UK proposed significant change to the system of financial regulation. On election in 2010, the coalition government set out its belief...more

FSA Consultation on the PRA and FCA Regimes for Approved Persons

by Orrick - Structured Finance Group on 10/11/2012

On October 3, the FSA published consultation paper 12/26 ‘Regulatory reform: the PRA and FCA regimes for Approved Persons’ (CP12/26). As part of the reform of the supervisory structure of financial services in the UK, the...more

UK’s FSA Publishes Consultation Paper on Regulatory Reform Implementation

by BuckleySandler LLP on 9/20/2012

On September 12, in advance of expected legislation that will restructure the United Kingdom’s financial services regulatory framework, the Financial Services Authority (FSA) published the first in a series of Consultation...more

FSA Consults on Rules Changes Linked to Handover to PRA and FCA

by Katten Muchin Rosenman LLP on 9/20/2012

On September 12, the UK Financial Services Authority (FSA) published a consultation paper (CP12/24- Regulatory Reform) regarding changes to the existing FSA Handbook on aspects of the regulatory regime which will apply after...more

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