News & Analysis as of

HM Treasury

BCLP

Mandatory Reimbursement for App Fraud: What Payment Service Providers Need to Consider Ahead of Implementation

BCLP on

The controversial new requirement for all in-scope Payment Service Providers (“PSPs”) to reimburse victims of Authorised Push Payment (“APP”) fraud are due to be introduced from 7 October 2024. This is a significant change...more

Barnea Jaffa Lande & Co.

Israel’s Money Laundering and Terror Financing Prohibition Authority Updates List of At-Risk Countries of the FATF

The international Financial Action Task Force (FATF) recently issued two announcements updating the list of countries and jurisdictions at high risk of money laundering, terrorist financing, and proliferation financing, and...more

Hogan Lovells

UK access to cash: FCA publishes final rules

Hogan Lovells on

Following measures introduced under the Financial Services and Markets Act (FSMA) 2023, the Financial Conduct Authority (FCA) has published a policy statement (PS24/8) setting out the final rules for its new access to cash...more

Hogan Lovells

The Payments Newsletter including Digital Assets & Blockchain, June 2024

Hogan Lovells on

Key developments of interest over the last month include: the European Banking Authority’s publication of a report on virtual IBANs; HM Treasury’s designation of banks under the access to cash framework; and a Central Bank of...more

Hogan Lovells

UK / EU / International ESG Regulation Monthly Round-Up – May 2024

Hogan Lovells on

May 2024 was another busy month for ESG regulation both in the UK, EU and internationally. In the UK, the anti-greenwashing rule came into effect on 31 May 2024, an update on the Sustainability Disclosure Requirements (SDR)...more

BCLP

UK Sustainability Disclosure Requirements - 2024 Update

BCLP on

The Government’s recently published Sustainability Disclosure Requirements (SDR): Implementation Update 2024 outlines the timeframes and next steps for each of the core elements of SDR, first proposed in 2021 to provide a...more

Morgan Lewis

New UK Securitisation Rules Published

Morgan Lewis on

The UK Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) recently published their final rules relating to securitisation. Together with certain provisions under the Securitisation Regulations 2024...more

A&O Shearman

UK Proposes Design of the Future Entity for UK Open Banking

A&O Shearman on

On April 19, 2024, the U.K.'s Joint Regulatory Oversight Committee published proposals on the design of the future entity for UK Open Banking. The JROC is composed of the Financial Conduct Authority, the Payment Systems...more

A&O Shearman

UK Prudential Regulator Granted Power to Disapply Rules

A&O Shearman on

On April 18, 2024, the Financial Services and Markets Act 2000 (Disapplication or Modification of Financial Regulator Rules in Individual Cases) Regulations 2024 were made. The Financial Services and Markets Act of 2023...more

A&O Shearman

UK Approach to Critical Third-Party Supplier Designation Published

A&O Shearman on

The Financial Services and Markets Act 2023 established a framework for the regulation of third parties who provide significant services to financial institutions, giving HM Treasury power to designate an entity as a...more

A&O Shearman

UK Updates and Expands Equivalence for US Derivatives Trading Venues

A&O Shearman on

The Markets in Financial Instruments (Equivalence) (United States of America) (Commodity Futures Trading Commission) Regulations 2024 (SI 2024/638) were made on May 14, 2024 and entered into force on June 4, 2024. In...more

Hogan Lovells

UK access to cash: Bank of England publishes final Codes of Practice on wholesale cash distribution

Hogan Lovells on

The Bank of England has published the final versions of three Codes of Practice on wholesale cash distribution and accompanying Guidance relating to information gathering, third-party arrangements and cash centre closures and...more

Katten Muchin Rosenman LLP

UK Financial Insights from Katten | Issue 10

UK Financial Insights from Katten is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds in the UK and Europe....more

A&O Shearman

UK Publishes Draft Securitisation (Amendment) Regulations 2024

A&O Shearman on

The draft Securitisation (Amendment) Regulations 2024 were published on April 22, 2024. In combination with the Securitisation Regulations (S.I. 2024/102), the draft Regulations will provide the U.K.'s new regulatory...more

Katten Muchin Rosenman LLP

Financial Markets and Funds Quick Take | Issue 25

Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more

A&O Shearman

HM Treasury Publishes Policy Statement on Next Phase of Smarter Financial Services Regulatory Framework

A&O Shearman on

On March 21, 2024, HM Treasury published a paper on the next phase of its Smarter Financial Services Regulatory Framework, the U.K.'s program of post-Brexit regulatory reforms for financial services. The original policy...more

Hogan Lovells

UK: 10 things to note about the FCA and Bank of England Digital Securities Sandbox consultation

Hogan Lovells on

On 3 April 2024, the Bank of England (BoE) and the Financial Conduct Authority (FCA) issued a consultation paper setting out the proposed approach to operating the Digital Securities Sandbox (DSS). The DSS is designed to...more

A&O Shearman

New UK Requirements for Payment Account Contract Terminations

A&O Shearman on

HM Treasury has published a policy note and a draft statutory instrument—The Payment Services and Payment Accounts (Contract Terminations) (Amendment) Regulations 2024—on strengthening requirements in the Payment Services...more

A&O Shearman

HM Treasury Consults on Amending the Money Laundering Regulations

A&O Shearman on

HM Treasury has launched a consultation with proposals to improve the effectiveness of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (known as the MLRs). The...more

Hogan Lovells

Fostering integrity and trust in ESG ratings and data products providers – UK, Japan, Singapore and EU

Hogan Lovells on

The growth in size and influence of ESG ratings and data markets coupled with concerns about the transparency and credibility of ESG ratings and data products have led to IOSCO developing recommendations to regulators and ESG...more

WilmerHale

FCA Business Plan: Firms Should Expect Assertive Supervision, Enforcement on Financial Crime as 2022-2025 Strategy Enters Final...

WilmerHale on

The UK Financial Conduct Authority (FCA) is entering the final year of its 2022-2025 strategy, which features a commitment to be more innovative, assertive and adaptable. Its 2024/25 Business Plan outlines how the regulator...more

Katten Muchin Rosenman LLP

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

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

Skadden, Arps, Slate, Meagher & Flom LLP

Taking Stock of Commodity Derivatives Regulation in the UK and EU

In July 2021, HM Treasury published the Wholesale Markets Review consultation (WMR), which included proposals to reform the U.K.’s secondary markets framework. There was broad support for reforms to (a) modify the ancillary...more

Hogan Lovells

UK “de-banking”: Government publishes draft legislation on changes to termination rules for PSPs

Hogan Lovells on

In July 2023, the UK government committed to changing the requirements on payment service providers (PSPs) when terminating payment service contracts. HM Treasury has now published draft regulations amending the Payment...more

Hogan Lovells

APP fraud: UK government publishes draft legislation allowing PSPs to delay payments for fraud concerns

Hogan Lovells on

In its 2023 Fraud Strategy, the UK government committed to looking at changes to allow payment service providers (PSPs) more time to investigate suspicious payments to help tackle authorised push payment (APP) fraud. HM...more

476 Results
 / 
View per page
Page: of 20

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide