Despite concerns being raised through the consultation process, the Financial Conduct Authority (FCA) has implemented its proposals to shift some decision making from the Regulatory Decisions Committee (RDC) to senior FCA...more
As part of the proposed Banking Package (CRDVI), the European Commission has proposed a harmonised EU regulatory framework for third country bank branches.
...more
Almost a year after the Brexit transition period ended and the UK government is beginning to refine its thinking on how the financial services framework should evolve in a post-Brexit world in order to ensure it is fit for...more
Between Monday 11 and Friday 15 October our UK Financial Services Regulatory team will host a series of foundational training sessions across a variety of UK regulatory topics and themes.
...more
The PRA has published updates to its policy and a revised supervisory statement on ensuring operational continuity in resolution (PS 9/21 and SS4/21) following its consultation paper in October 2020 (CP 20/20). This bulletin...more
The first step in shaping the UK's financial services regime post-Brexit.
On 29 April 2021, the Financial Services Act 2021 (the Act) received Royal Assent. It is seen as the UK’s first step in control of the financial...more
On 14 May 2021 the FCA published its first Consultation Paper on a new “Consumer Duty” (CP21/13).1 The new Consumer Duty would...
...more
Certain UK incorporated holding companies of banks and investments firms will, for the first time, be required to obtain PRA authorisation in 2021. The required applications for authorisation are detailed and will require...more
Following a year that saw firms’ operational resilience arrangements put to the test, the FCA, the PRA and the Bank of England published their long-awaited final rules and guidance on operational resilience on 29 March 2021,...more
The UK government has announced a number of measures designed to respond to the economic shock arising from Covid-19 coronavirus – these include providing businesses of all sizes with access to a £330 billion package of...more
The Brexit engines at HM Treasury, the FCA, PRA and Bank of England are responding admirably to the challenge posed by Brexit to ensure that the UK has a continuing, robust and effective legal regime once the currently...more
On 20 December 2017, the European Commission published proposals to revise the framework for the prudential regulation of investment firms.
The proposals were anticipated and are an attempt to “ensure that investment firms...more
On 25 November 2015, the Prudential Regulation Authority (PRA) published a ‘waiver by consent’ in relation to the contractual recognition of bail-in requirements. To the extent that it would be impracticable for firms to...more
The UK Prudential Regulation Authority (PRA) has published a consultation paper on operational continuity for larger retail and investment banks. It follows on from a 2014 discussion paper on the topic and sets out proposals...more