The European Securities and Markets Authority (ESMA) recently published its first formal guidance on the use of artificial intelligence (AI) in the provision of retail investment services. The guidance outlines AI’s potential...more
After several years of negotiations between the European Commission, European Council, and European Parliament following the publication of the initial draft proposal in November 2021, AIFMD II was published in the Official...more
The new UK Financial Conduct Authority (FCA) sustainability disclosure requirements (SDR) and investment labels regime for managers of funds launches in July 2024, with a phased application through to December 2026. The SDR...more
The last few years have thrown many surprises at businesses. Organizations across all sectors have faced inflation, global conflicts, supply chain challenges, a pandemic, and continually changing government policies. In 2023,...more
1/23/2023
/ Automotive Industry ,
Capital Markets ,
Cryptocurrency ,
Energy Sector ,
EU ,
False Claims Act (FCA) ,
FDIC ,
Financial Services Industry ,
FinTech ,
Food and Drug Administration (FDA) ,
Life Sciences ,
Tax Credits
The UK Financial Conduct Authority (FCA) recently published its consultation paper, CP22/20, on the use of Sustainability Disclosure Requirements (SDR) and investment labelling. The consultation paper proposes rules to help...more
Kwasi Kwarteng, the Chancellor of the Exchequer of the new UK government led by Prime Minister Liz Truss, presented his “Growth Plan 2022” to Parliament last Friday 23 September 2022. The Growth Plan 2022 outlines the UK...more
The UK Financial Conduct Authority (FCA) announced on July 9 that, while changes to the scope of the UK commodity position limits regime are being consulted on, it will not take enforcement action against firms that breach...more
The UK Financial Conduct Authority and Prudential Regulation Authority have published statements setting out their expectations of dual-regulated and solo-regulated firms on their senior managers and certification regime...more
While offering guidance on which financial services workers could be considered essential, the UK Financial Conduct Authority says that firms themselves are best placed to make those decisions. ...more
The spread of the coronavirus (COVID-19) continues to impact global financial markets and private funds. Institutional investors, funds-of-funds, family offices, and other investors in private funds should consider the...more
The European Commission (the Commission) has made sustainable finance an express initiative within its overall plans to strengthen capital markets in the European Union. In July 2018, the Commission sought advice from the...more
Following its consultation earlier this year, the UK Financial Conduct Authority has now published a policy statement setting out its final rules for extending the Senior Managers and Certification Regime to solo-regulated...more
In a global environment of heightened regulatory accountability and scrutiny, the Bank of England, Financial Stability Board, and Financial Conduct Authority have signalled their continued interest in promoting the need for...more
Following an assessment by the European Commission (the Commission) of how the European Market Infrastructure Regulation (EMIR) has been working since it entered into force on 16 August 2012 and the phasing in of its various...more
The Financial Conduct Authority (FCA) has recently published its final guidance on statements of responsibilities, responsibilities maps, and its policy statement on the new FCA directory for financial services workers, ahead...more
The proposals pave the way for the integration of environmental, social, and governance considerations into the day-to-day thinking of financial services firms....more
In a report issued by the UK Cryptoassets Taskforce, authorities break down the key concepts of cryptoassets; consider application of the current regulatory perimeter to different cryptoassets; and discuss the impact, risks,...more
The Financial Conduct Authority (FCA) proposed guidance on 11 October 2018 for formulating a Statement of Responsibilities for Senior Managers, ahead of the extension of the Senior Managers and Certification Regime (SMCR) to...more
The Financial Conduct Authority and Prudential Regulation Authority published policy statements on 4 July on the extended Senior Managers and Certification Regime, setting out near final rules for solo-regulated firms and...more
As part of its 2015 workplan to reduce misconduct risk in financial institutions, the Financial Stability Board is consulting on recommendations for data reporting on the use of compensation tools to address misconduct risk....more
The EU regulation on key information documents (KIDs) for packaged retail and insurance-based products (PRIIPs) took direct effect in the European Union on 1 January 2018. This LawFlash outlines at a high level the...more
Aware of the risks of regulatory arbitrage developing post-Brexit, a key feature of the Commission’s proposals allows ESAs to monitor the practices of EU27 regulators....more
The Financial Conduct Authority has published a Consultation Paper containing its proposals to expand the Senior Managers and Certification Regime to all FSMA-authorised firms; the window for providing comments to the FCA...more
Brexit notwithstanding, the United Kingdom implemented MiFID II locally, on time; however, FCA deferred the opportunity to assist industry by clarifying the implications of the new research payment regime for global asset...more
The European Securities and Markets Authority foresees regulatory and arbitrage risks in Brexit and has issued an opinion as a practical tool to help achieve supervisory convergence among EU regulators—Brexit negotiations...more