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Food Safety Modernization Act › United Kingdom

The Food Safety Modernization Act is a United States federal statute enacted in 2011 to ensure the safety of the U.S. food supply and prevent food contamination. The main features of the FSMA include expanding... more +
The Food Safety Modernization Act is a United States federal statute enacted in 2011 to ensure the safety of the U.S. food supply and prevent food contamination. The main features of the FSMA include expanding the FDA's inspection of food processing facilities and imported food products, requiring all food processors, manufactures and handlers to register with HHS and maintain food safety records, and shifting the government's focus away from responding to food contamination and towards preventing food contamination.  less -
Hogan Lovells

New court decision widens the potential liability of principals for their appointed representatives

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The recent Court of Appeal decision in KVB Consultants Ltd and others v Jacob Hopkins McKenzie Ltd and others [2024] EWCA Civ 765 (9 July 2024) has important implications for any regulated firm that acts as principal to an...more

Dechert LLP

Implementing the Overseas Funds Regime – FCA Publishes Final Rules

Dechert LLP on

The FCA has published its final rules and guidance necessary to implement the Overseas Funds Regime (OFR). The gateway for eligible funds to apply for recognition under the OFR is scheduled to open in September for new...more

A&O Shearman

UK Prudential Regulation Authority Policy Statement on its Approach to Rule Permissions and Waivers

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The U.K. Prudential Regulation Authority has published a policy statement on its approach to rule permissions and waivers. The policy statement provides feedback to responses the PRA received to CP3/24 published in January....more

Hogan Lovells

UK: Finfluencers beware - The FCA is closing in

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The UK Financial Conduct Authority (FCA) has brought criminal charges against nine individuals in relation to an unauthorised foreign exchange trading scheme promoted on social media....more

A&O Shearman

Likes to liability: UK FCA cracks down on 'finfluencers'

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"Promotions aren't just about the likes, they're about the law," is the caption that accompanies the UK Financial Conduct Authority's (FCA) recent decision to charge nine influencers in connection with the promotion on social...more

Latham & Watkins LLP

Corporates and Dealmakers Must Prepare For Increased UK Class Action Claims

Latham & Watkins LLP on

While class actions are well established in the US, they are increasingly common in the UK, driven by market volatility, availability of litigation funding, legal reforms, regulatory settlements, and growing scrutiny of...more

BCLP

Response to FCA's CP24/2

BCLP on

We strongly disagree with the FCA’s proposals, set out in CP24/2, to announce that it has opened enforcement investigations into firms where it considers this to be in the public interest. We set out our objections in detail...more

Akin Gump Strauss Hauer & Feld LLP

Cross-Border Implications of the FCA’s Consultation Paper on Publishing Information About the Opening and Progress of...

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Last month, the United Kingdom Financial Conduct Authority (FCA) announced that it is considering new procedures under which it would publicly identify firms that are under investigation as soon as the investigation has been...more

Katten Muchin Rosenman LLP

UK HMT Publishes Policy Paper on its Approach to Designation of Critical Third Parties

Katten Muchin Rosenman LLP on

On 21 March 2024, HM Treasury (HMT) published a policy paper (Policy Paper) setting out its approach to designating critical third parties (CTPs). This follows the Bank of England, Prudential Regulation Authority and...more

A&O Shearman

Unpacking the FCA’s survey on non-financial misconduct

A&O Shearman on

The Financial Conduct Authority’s (FCA) latest survey issued to certain regulated firms suggests that tackling non-financial misconduct remains a key strategic priority for the UK regulator. This comes hot on the heels of...more

Latham & Watkins LLP

FCA Publishes Findings From Its Wholesale Data Market Study

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The FCA found that wholesale data markets can be improved, but has ruled out a significant intervention. The FCA has published the findings of its wholesale data market study (MS23/1.5), which examined competition in the...more

Akin Gump Strauss Hauer & Feld LLP

FCA Consults on Publishing Information about the Opening and Progress of Investigations

Akin Gump Strauss Hauer & Feld LLP on

The U.K. Financial Conduct Authority has published its proposed approach to publishing information about the opening and progress of investigations.1  The proposals represent a marked departure from the FCA’s current practice...more

Proskauer Rose LLP

Regulation Round Up - February 2024

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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

Dechert LLP

UK Government Deems all EEA Countries’ UCITS Regimes Equivalent Under the UK’s Overseas Funds Regime

Dechert LLP on

Operators marketing EU UCITS in the UK under the FCA’s temporary marketing permissions regime (“TMPR”) will be able to continue to do so following the expiry of the TMPR, provided they register the UCITS in question for...more

WilmerHale

FCA Highlights Risks Posed to Firms by Organised Crime Groups (OCG) and How Firms Can Mitigate These

WilmerHale on

Combatting financial crime continues to be a key supervisory and enforcement priority for the FCA. The importance of this area was reiterated by the FCA’s February 2024 newsletter - Market Watch 77 - which sets out...more

BCLP

Claim To Fame - Mass Litigation: what key trends should financial services firms be aware of in 2024?

BCLP on

As we have explored in our Class Actions series, the popularity of mass claims in the English courts continues to grow. Such claims represent a substantial threat to financial institutions but, at the same time, we are also...more

BCLP

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

BCLP on

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

BCLP

What New Digital Sandbox Regs Hold in Store for UK Markets

BCLP on

The Financial Services and Markets Act 2023 (Digital Securities Sandbox) Regulations 2023 came into force on Jan. 8, creating the U.K.'s first digital securities sandbox within which firms would be able to test new...more

Hogan Lovells

UK access to cash: FCA and Bank of England consultations

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As part of measures introduced under the Financial Services and Markets Act (FSMA) 2023, the Financial Conduct Authority (FCA) and the Bank of England (BoE) have published consultations relating, respectively, to maintaining...more

Katten Muchin Rosenman LLP

FCA Publishes Consultation on UK Overseas Funds Regime

Katten Muchin Rosenman LLP on

On 4 December 2023, the Financial Conduct Authority (FCA) published a consultation (CP23/26) on the implementation of the UK’s overseas funds regime (OFR). The OFR is a new statutory framework that is intended to provide...more

Hogan Lovells

Hitting the brakes: UK FCA review of motor finance commission arrangements

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Following a large number of complaints from motor finance customers in relation to discretionary commission arrangements entered into before the FCA's 2021 ban was introduced, the FCA has announced that it is using its powers...more

Hogan Lovells

UK: Digital Securities Sandbox for financial market infrastructures

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On 8 January 2024, the Financial Services and Markets Act 2023 (Digital Securities Sandbox) Regulations 2023 enter into force, creating the Digital Securities Sandbox within which certain Financial Market Infrastructures will...more

Proskauer Rose LLP

Regulation Round Up - December 2023

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Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. Key developments in December 2023: 21 December - UK / Swiss Regulatory...more

Proskauer - Regulatory & Compliance

Requirements for UK High Net Worth and Self-Certified Investors Changing From 31 January 2024

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From 31 January 2024 the exemptions available from the restriction on communicating financial promotions appliable to high net worth (“HNW”) individuals and self-certified investors are changing. The updates are...more

Cadwalader, Wickersham & Taft LLP

The UK’s FCA Consults on Changes to Allow Recognition of Overseas Funds

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The UK’s Financial Conduct Authority (“FCA”) is consulting on changes to its rules to allow funds domiciled outside the UK to market to UK retail customers....more

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