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The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of... more +
The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -
BCLP

The EU’s Digital Operational Resilience Act 2022/2554 (DORA)

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Long IT sub-contracting chains can make it hard for financial institutions to understand the vulnerabilities in their IT estate and the location of key functions (where these may be located in entities who do not have a...more

Proskauer Rose LLP

Regulation Round Up - August 2024 - 2

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Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more

A&O Shearman

Bank of England Publishes Resolvability Assessment of Major UK Banks 2024

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The Bank of England has published the findings from its second assessment of the eight major U.K. banks under the Resolvability Assessment Framework. The assessment finds that the major U.K. banks have continued to make...more

A&O Shearman

Bank of England Discussion Paper on Approach to Innovation in Money and Payments

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Central bank money could interact with programmable platforms through the use of so-called "wholesale central bank digital currency" (wCBDC) technologies. To inform this work, the BoE proposes a program of experiments to test...more

Paul Hastings LLP

Daily Financial Regulation Update -- Friday August 2, 2024

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August 1, 2024- The European Artificial Intelligence Act (AI Act), the world's first comprehensive regulation on artificial intelligence, which was designed to ensure that AI developed and used in the EU is trustworthy,...more

Skadden, Arps, Slate, Meagher & Flom LLP

Bank of England Seeks Innovation in Money and Payments, With a Focus on Distributed Ledger Technology

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On 30 July 2024, the Bank of England published a discussion paper on its approach to innovation in money and payments (the Discussion Paper). A recurring theme is the Bank of England’s focus on the potential use of...more

BCLP

A deep dive into the FCA’s approach to the regulation of AI within financial services

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Last week the FCA issued three announcements concerning its approach to the digital future of financial services in the UK. Amongst these was the FCA’s AI Update, their response to the government’s recent AI consultation...more

Hogan Lovells

The Payments Newsletter including Digital Assets & Blockchain, February 2024

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Key developments of interest over the last month include: the European Parliament’s ECON Committee adopting draft reports on the European Commission’s PSR and PSD3 legislative proposals; ESMA consulting on 'reverse...more

A&O Shearman

Key Regulatory Topics: Weekly Update 23-29 Feb 2024

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Amongst the broad range of updates this week, at international level, the FSB published its thematic peer review on MMF Reforms and the BCBS published the outcomes of its meeting held on 28 and 29 February, including that it...more

BCLP

Joining the Dots - Will the UK’s New Critical Third Party Rules Truly Move the Dial for Financial Institutions?

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The announcement in 2021 of the intention to implement new rules directly targeting the types of tech service provider relied on by most financial institutions may be a necessary corrective given the heavy market...more

A&O Shearman

The U.K.’s New Regime for Critical Third Party Supervision

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Regulated financial services institutions and financial market infrastructure (FMI) providers often rely on third parties who provide significant services to them behind the scenes, including “cloud” services and IT services...more

A&O Shearman

Bank of England Publishes Policy Statement on Implementation of Basel 3.1 Standards

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The Bank of England has published a Policy Statement on the Implementation of the Basel 3.1 standards in the U.K., taking account of responses to its Consultation Paper 16/22 published in November 2022. The Basel 3.1 changes...more

Skadden, Arps, Slate, Meagher & Flom LLP

AI Insights: How Regulators Worldwide Are Addressing the Adoption of AI in Financial Services

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Following the declaration of the international artificial intelligence (AI) “Safety Summit” at Bletchley Park (Bletchley Summit) on November 1, 2023, and the White House’s October 30, 2023, Executive Order on AI (Executive...more

White & Case LLP

European leveraged finance battens down the hatches

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As our latest leveraged finance report reveals, European leveraged finance markets saw significant inertia through the course of 2022 as high inflation, rising interest rates and cooling M&A activity put the brakes on...more

White & Case LLP

Hitting the brakes: European leveraged finance battens down the hatches

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European leveraged finance markets saw significant inertia through the course of 2022 as high inflation, rising interest rates and cooling M&A activity put the brakes on leveraged loan and high yield bond issuance. How will...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Edinburgh Reforms: Big Bang 2.0 or Thoughtful Change?

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Following the recently introduced Solvency UK for insurers, the UK Chancellor of the Exchequer Jeremy Hunt (the UK finance minister) has announced the Edinburgh Reforms, a further series of reforms aimed at the UK financial...more

White & Case LLP

Operational resilience in the UK, EU and US: A comparison

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With a new operational resilience framework in force in the UK and similar reforms proposed in the EU and the US, we examine how the regimes compare and their practical impact on financial services firms....more

Latham & Watkins LLP

E-Money, Payment Services, and Insolvency

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Consumers and service providers should take note of some of the enhanced risks upon an e-money institution’s insolvency. Technology is rapidly changing the way customers and businesses interact with financial systems....more

BCLP

Banking Bites - October 2022

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Welcome to Banking Bites! This is our short summary flagging some key developments in your sector that we hope will inform your activities in your market....more

Proskauer Rose LLP

Regulation Round Up - October 2022

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Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. ...more

Paul Hastings LLP

Daily Financial Regulation Update -- Saturday, September 24, 2022

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September 23, 2022- The European Banking Authority (EBA) launched its annual EU-wide transparency exercise, as part of its efforts to monitor risks and vulnerabilities and to reinforce market discipline....more

A&O Shearman

UK Regulators Propose Changes to Margin Requirements for Non-Centrally Cleared Derivatives

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The U.K. Prudential Regulation Authority and Financial Conduct Authority have issued a joint consultation paper on proposals to amend the U.K. Binding Technical Standards on margin requirements for non-centrally cleared...more

Paul Hastings LLP

Daily Financial Regulation Update -- Friday, July 15, 2022

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The U.S. Senate Committee on Banking, Housing, and Urban Affairs held a hearing entitled, "Advancing National Security and Foreign Policy Through Export Controls: Oversight of the Bureau of Industry and Security."...more

BCLP

Banking Bites - June 2022

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New High Court case considers nature and scope of the Quincecare duty - In June, the Court of Appeal expanded the scope of a bank’s duty of care to protect its customers from fraud to encompass instructions by those other...more

Paul Hastings LLP

Daily Financial Regulation Update -- Saturday, June 18, 2022

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The Financial Action Task Force (FATF) concluded the last Plenary under the German presidency and produced policy recommendations to strengthen efforts to combat corruption and the misuse of virtual assets. The FATF again...more

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