Published concurrently with Consultation Paper 25/14 (CP 25/14) on the proposals for stablecoin issuance and cryptoasset custody in the UK, Consultation Paper 25/15 (CP 25/15) sets out the UK Financial Conduct Authority’s...more
Following the publication by HM Treasury of the draft legislation establishing a financial services regulatory regime for cryptoassets in the UK, on 28 May 2025 the UK Financial Conduct Authority (FCA) published Consultation...more
6/6/2025
/ Cryptoassets ,
Cryptocurrency ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
HM Treasury ,
New Legislation ,
New Regulations ,
Proposed Rules ,
Regulatory Requirements ,
Stablecoins ,
UK
On 20 May 2025, the UK Prudential Regulation Authority (PRA) published a policy statement (PS6/25) on business conducted within branches of international banks operating in the UK, as well as its booking model expectations...more
5/28/2025
/ Banking Sector ,
Banks ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
New Regulations ,
Policy Updates ,
Prudential Regulation Authority (PRA) ,
Regulatory Requirements ,
Reporting Requirements ,
Risk Management ,
UK
A welcome wind of regulatory change is noticeable in Germany. On May 20, 2025, the Federal Financial Supervisory Authority (BaFin) published a consultation on a draft ordinance to amend the ownership control ordinance and the...more
On 9 May 2025, the Financial Conduct Authority (FCA) issued policy statement PS 25/4, setting out, and bringing into force, final rules on investment research payment options for fund managers.
The new rules follow the...more
As part of the UK government’s aim to create legislation establishing a regulatory framework for cryptoassets, on 2 May 2025 the UK Financial Conduct Authority (FCA) published Discussion Paper DP25/1....more
On 7 April 2025, the United Kingdom’s HM Treasury opened a consultation (the Consultation) on proposals to streamline the regulatory framework for alternative investment fund managers (AIFMs). Alongside the Consultation, the...more
5/8/2025
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Reform ,
HM Treasury ,
Investment ,
Investment Funds ,
Investment Management ,
Private Equity ,
Proposed Legislation ,
Regulatory Requirements ,
UK
Since December 2024, cryptoassets and related services are regulated in the European Union by the Markets in Crypto-Assets Regulation (MiCA). Although the regulation provides a comprehensive set of rules for issuers of...more
5/5/2025
/ Blockchain ,
Corporate Governance ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
FinTech ,
Investment Management ,
MiFID II ,
Regulatory Requirements
On 29 April 2025, HM Treasury published near-final draft legislation establishing a financial services regulatory regime for cryptoassets in the UK, along with a policy note explaining the intended policy outcomes of the...more
We are pleased to present “The Capital Ratio,” a new podcast that explores key regulatory topics impacting the banking and financial sector. In our debut episode, we dive into the key regulatory considerations for U.K. and...more
On 5 March 2025, the FCA published its findings from its multi-firm assessment of governance and valuation practices within the private market sector (Review) along with a press release. The Review focused on firms operating...more
In February 2025, Camille Blackburn, director at the Financial Conduct Authority (FCA), set out the FCA’s current supervisory priorities for the asset management and alternatives sector (Sector) in a “Dear CEO”...more
3/5/2025
/ Anti-Money Laundering ,
Asset Management ,
Conflicts of Interest ,
Consumer Financial Products ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Investment ,
Investment Management ,
Private Equity ,
Regulatory Agenda ,
Regulatory Requirements ,
Risk Management
On 25 February 2025, Sarah Pritchard, executive director of consumers, competition, and international at the UK Financial Conduct Authority (FCA), delivered a speech at the Investment Association Roundtable where she outlined...more
3/3/2025
/ Banking Sector ,
Disclosure Requirements ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Hedge Funds ,
Investment ,
Investment Management ,
Market Participants ,
Non-Bank Lenders ,
Private Equity ,
Regulatory Oversight ,
Regulatory Requirements ,
Risk Management ,
UK
On 12 February 2025, the UK Prudential Regulation Authority (PRA) issued a policy statement on streamlining firm-specific capital communications (the Policy Statement). The statement finalises policy that was the subject of a...more
On 1 November 2024, the UK Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) published a joint policy statement (PS 18/24) on the prudential assessment of acquisitions and increases in control. The...more
1/27/2025
/ Acquisitions ,
Banking Sector ,
Compliance ,
Corporate Governance ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Investment Funds ,
Limited Partnerships ,
Mergers ,
New Guidance ,
New Regulations ,
Private Equity ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Regulatory Requirements ,
UK
On 8 January 2025, the UK’s HM Treasury issued a statutory instrument amending the scope of “collective investment schemes” (the Amendment) under the Financial Services and Markets Act 2000 (Collective Investment Schemes)...more
Financial centres around the world have been hosts to branches and representative offices of international banks since as early as the 19th century. The term “branch” refers to a local establishment of a foreign financial...more
12/11/2024
/ Bank of England ,
Banking Sector ,
Banks ,
EU ,
False Claims Act (FCA) ,
Financial Institutions ,
HSBC ,
Legislative Agendas ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Regulatory Oversight ,
Regulatory Requirements ,
Silicon Valley ,
UK
Solvency II is organised around three core pillars of prudential regulation, which ensure the safety and soundness of (re)insurers, in line with the scale, nature and complexity of their business:
- Pillar One focuses on...more
9/4/2024
/ Capital Requirements ,
EIOPA ,
EU ,
European Banking Authority (EBA) ,
Financial Institutions ,
Insurance Industry ,
ORSA ,
Outsourcing ,
Prudential Regulation Authority (PRA) ,
Regulatory Requirements ,
Risk Management ,
SMCR ,
Solvency II ,
UK
The PRA has released an important statement on its approach to funded reinsurance. Our view is that the statement endorses the conceptual principle that funded reinsurance (particularly to offshore counterparties) should best...more
8/2/2024
/ Banking Sector ,
Capital Requirements ,
Collateral Agreements ,
Financial Institutions ,
Financial Services Industry ,
Insurance Industry ,
Life Insurance ,
Prudential Regulation Authority (PRA) ,
Regulatory Requirements ,
Reinsurance ,
Risk Management ,
Solvency II ,
Standard Contractual Clauses ,
UK