The tone of the papers suggests that a fundamental reform of the Regime will be unlikely.
On 30 March 2023, the PRA and the FCA published a joint Discussion Paper (FCA DP23/3 and PRA DP1/23) seeking feedback on the...more
Discussion Paper opens debate on potential new rules to improve diversity in financial services.
On 7 July 2021, the FCA, the PRA, and the Bank of England published a joint Discussion Paper on diversity and inclusion in...more
7/8/2021
/ Bank of England ,
Banking Sector ,
Comment Period ,
Consultation ,
Discussion Draft ,
Diversity ,
Diversity and Inclusion Standards (D&I) ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Prudential Regulation Authority (PRA) ,
UK
The PRA has released a largely positive report, along with nine follow-up actions and recommendations on the SMCR for PRA-regulated firms.
Key Points:
..There is no need for major changes to the SMCR.
..There are...more
The FCA, Bank of England, and PRA have published updated rules for firms post-Brexit and intend to delay many (but not all) onshoring changes.
Key Points:
..The FCA has published an updated version of the FCA Handbook,...more
10/20/2020
/ Bank of England ,
Cross-Border Transactions ,
Dear CEO Letter ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Onshoring ,
Prudential Regulation Authority (PRA) ,
Time Extensions ,
Transitional Arrangements ,
UK ,
UK Brexit
Q&As for UK Regulated Firms -
Although the general election result has provided some certainty in relation to what happens next from a Brexit perspective, there are still many outstanding questions. In addition, a large...more
1/7/2020
/ Cross-Border Transactions ,
EU ,
EU Passport ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Member State ,
No-Deal Brexit ,
Onshoring ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Prudential Regulation Authority (PRA) ,
Transitional Arrangements ,
UK ,
UK Brexit ,
Withdrawal Agreement
The Taskforce’s final report outlines the UK’s policy and regulatory approach to crypto-assets and distributed ledger technology in financial services.
Key Points:
..The Report provides an overview of crypto-assets and...more
UK regulators expand on plans to smooth the transition for inbound passporting firms in the event of a “no deal” Brexit.
Overview -
HM Treasury published draft legislation on 24 July 2018 to establish a temporary...more
The FCA and the PRA have published their Policy Statements, setting out final rules on the SMCR regimes for insurers and FCA solo-regulated firms.
Key Points:
..The FCA has announced that the extended SMCR will apply to...more