On 24 October 2023, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) (together, the Regulators) published their joint policy statement (Policy Statement) to remove the existing limits on the...more
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
On 25 October 2023, the FCA published a statement (Statement) warning about common issues with cryptoasset marketing in the UK.
The FCA has been supervising firms’ compliance with its new cryptoasset financial...more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
10/24/2023
/ CFTC ,
Corporate Transparency Act ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Diversity and Inclusion Standards (D&I) ,
Enforcement Actions ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
FinCEN ,
Securities and Exchange Commission (SEC) ,
UK
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
The FCA has published a policy statement (“PS23/13”) on introducing a “gateway” for firms that approve the financial promotions of unauthorised firms. PS23/13 supports amendments made to the Financial Services and Markets Act...more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
9/18/2023
/ Biden Administration ,
Bitcoin ,
Blockchain ,
China ,
Cryptoassets ,
Environmental Social & Governance (ESG) ,
False Claims Act (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Services Industry ,
Fund Managers ,
Loans ,
Non-Fungible Tokens (NFTs) ,
Securities ,
Securities and Exchange Commission (SEC) ,
UK ,
UK Brexit
As part of the UK’s post-Brexit regulatory reforms, the UK government is working to repeal and replace retained EU financial services law with new domestic rules – this includes the UK’s onshored version of the Securitisation...more
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
8/22/2023
/ Cryptoassets ,
Cryptocurrency ,
Data Privacy ,
DTCC ,
EU-US Privacy Shield ,
European Commission ,
Financial Conduct Authority (FCA) ,
HM Treasury ,
Human Rights ,
Supply Chain ,
Transparency ,
UK
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
The Financial Conduct Authority (FCA) has published a statement (Statement) on its expectations for UK cryptoasset businesses (CBs) complying with the Travel Rule (as defined below).
From 1 September 2023, CBs will be...more
On 27 July 2023, Depository Trust & Clearing Corporation (“DTCC”) announced its decision to exit the Global Markets Entity Identifier (“GMEI”) business by 22 August 2023. Through its GMEI business, DTCC issued Legal Entity...more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
7/28/2023
/ CFTC ,
Cybersecurity ,
Data Privacy ,
Digital Currency ,
EU-US Privacy Shield ,
European Commission ,
Executive Compensation ,
Financial Conduct Authority (FCA) ,
HM Treasury ,
Proxy Voting Guidelines ,
Securities and Exchange Commission (SEC) ,
UK
On 28 June 2023, the UK’s Law Commission (“Commission”) published its final report (“Report”) setting out its recommendations to UK Parliament on proposed changes to UK law to ensure it better recognises and protects digital...more
On 4 July 2023, the Financial Conduct Authority (“FCA”) published a letter (“Letter”) that it has sent to cryptoasset firms warning them that they must prepare for changes to the financial promotions regime that come into...more
European Commission Proposes Legal Framework for Digital Euro -
The European Commission (Commission) published its ‘Single Currency Package’ on 28 June 2023 with proposals to establish a legal framework for the creation of...more
The European Commission (“Commission”) published its ‘Single Currency Package’ on 28 June 2023 with proposals to establish a legal framework for the creation of a potential digital euro alongside the cash euro. The...more
As a major post-Brexit milestone, HM Treasury (“HMT”) has announced that the Financial Services and Markets Bill received Royal Assent on 29 June 2023. For more information on the development of the Financial Services and...more
As a major step forward in post-Brexit relations between the two jurisdictions, the UK and EU have signed the highly anticipated memorandum of understanding (“MoU”) on UK-EU regulatory cooperation in financial services. HM...more
Challenging economic conditions have made it even more attractive for certain General Partners (GPs) to seek to maintain existing assets owned by fund vehicles. Continuation funds offer GPs a mechanism for doing this by...more
The Financial Conduct Authority (the “FCA”) recently announced its “near-final” rules on financial promotions for cryptoassets. The FCA published its highly anticipated policy statement, “Financial promotion rules for...more
Four Key Considerations Since SEC Amended Form PF -
In early May, the Securities and Exchange Commission (SEC) adopted a final rule amending Form PF, the confidential reporting form for certain SEC-registered investment...more
6/14/2023
/ Biometric Information Privacy Act ,
CFTC ,
Climate Change ,
Crypto Exchanges ,
Cryptoassets ,
Data Privacy ,
Digital Assets ,
Environmental Social & Governance (ESG) ,
EU ,
False Claims Act (FCA) ,
New Legislation ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Texas ,
UK ,
Whistleblowers
Katten recently hosted an interesting and insightful panel discussion on the latest market abuse trends in the UK and US. The session was presented Katten Financial Markets Regulatory Partner Neil Robson alongside RQC Group’s...more
The International Organization of Securities Commissions (“IOSCO”) recently published a consultation report (CR01/2023) (“Consultation”) on draft policy recommendations (“Recommendations”) to support greater regulatory and...more
Daniel Davis Shares Views on Digital Asset Regulation During House Subcommittee Hearing -
In testimony before the US House of Representatives Subcommittee on Commodity Markets, Digital Assets, and Rural Development, Daniel...more
5/31/2023
/ Biden Administration ,
Bitcoin ,
Cryptoassets ,
Cryptocurrency ,
Environmental Social & Governance (ESG) ,
European Parliament ,
Financial Conduct Authority (FCA) ,
HM Treasury ,
New York ,
Non-Fungible Tokens (NFTs) ,
Privacy Laws ,
Securities and Exchange Commission (SEC) ,
State Privacy Laws ,
UK