WORD OF THE DAY® – Clean-Up Call
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
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more
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
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
Congress- U.S. Senate- Committee on Banking, Housing, and Urban Affairs- Hearing: Considering the Index Fund Voting Process-...more
Federal Agencies- Federal Reserve Bank of New York- Survey of Consumer Expectations: Household Spending Expectations Rise Sharply; Credit Access Perceptions and Expectations Deteriorate Further-...more
Congress- U.S. Senate- Committee on Banking, Housing, and Urban Affairs- Brown Presses FSOC to Protect Consumer Data-...more
Congress- U.S. House of Representatives- Committee on Small Business- Committee Announces June Hearings- May 27, 2022- The House Small Business Committee announced several committee hearings throughout June:...more
Major Developments- Federal Reserve Board Minutes of the Federal Open Market Committee, May 3-4, 2022- The Federal Reserve Board and the Federal Open Market Committee released the attached minutes of the Committee...more
Key developments of interest over the last month include: In this Newsletter: For previous editions of the Global Payments Newsletter, please visit our Financial Services practice page. On 9 March 2022, President Biden signed...more
Future framework for regulation of UK financial services: Treasury Committee report - The House of Commons Treasury Committee has published its Fifth Report of Session 2021-22 on the future framework for regulating financial...more
Submission of statistical data: BoE Green Notice 2020/02 - The Bank of England (BoE) has published a Green Notice 2020/02 announcing future changes to the submission of statistical data to its Data and Statistics Division...more
CRD V and BRRD II-derived UK legislation: PRA statement on application of temporary transitional power - The UK Prudential Regulation Authority (PRA) has published a statement on the application of its temporary...more
30 July - The Financial Conduct Authority (“FCA”) updated its webpage on the High Court business interruption insurance test case. The Prudential Regulation Authority (“PRA”) published a consultation paper (CP11/20)...more
On 5 December 2019 the Bank of England (Bank), UK Prudential Regulation Authority (PRA) and UK Financial Conduct Authority (FCA) published coordinated consultation papers and policy on new requirements to strengthen...more
Partners Julia Smithers Excell and Stuart Willey, and associate Laura Kitchen of global law firm White & Case take a deep dive on the latest publications from EU and UK regulators aimed at providing supervisory clarity on the...more
2018 was a year of international scrutiny for digital currencies. As regulators around the globe wake up to the potential dangers posed by the new technology (now falling under the umbrella term of “cryptoassets”), pressure...more
In this newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset managers and...more
Legal & Regulatory - BRRD: FCA publishes modification by consent for Article 55 rules - Article 55 of the EU Bank Recovery and Resolution Directive 2014/59 (BRRD) requires European Economic Area (EEA) firms and...more
In This Issue: - Meeting of the SEC Advisory Committee on Small and Emerging Companies - FINRA Requests Comment on a Proposed Rule to Require Delivery of an Educational Communication to Customers of a Transferring...more
The Bank of England (“BOE”) and European Central Bank (the “ECB”) recently published a joint response1 to the report and short opinion issued late last year by the European Bank Authority (“EBA”) on how to improve the...more