The Standard Formula Podcast | Developments on the Horizon for the UK Change-in-Control Regulatory Regime
Brexit & Financial Services: Preparing for the End of the Transition Period
September 19, 2024- The Federal Reserve Bank of New York’s Open Market Trading Desk issued a statement announcing it intends to conduct a small value term repo operation with Primary Dealers....more
UK Financial Insights from Katten is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds in the UK and Europe....more
Post-pandemic most firms have settled into permanent hybrid working arrangements. Two years after the FCA published its statement reminding firms of its ability to visit “any location where work is performed […] including...more
In July 2024, the UK’s Financial Conduct Authority (“FCA”) published its “Quarterly Consultation Paper No. 44” (“Consultation”), which proposed introducing a requirement to provide criminal background checks on owners and...more
September 9, 2024- Securities and Exchange Commission Chief Accountant Paul Munter made a statement at the 2024 AICPA & CIMA Conference on Banks & Savings Institutions....more
As the UK Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) consider feedback to their consultation on guidance regarding the UK change-in-controller regime (consultation paper 25/23), we provide a...more
1. Bank regulation - 1.1 PRUDENTIAL REGULATION a) General - (i) EU - EBA: Opinion on measures in accordance with Article 458 CRR following a notification by the De Nederlandsche Bank - Status: Final - The EBA has...more
From 1 August 2024, the UK changed its rules on how payments are made for investment research. UK firms may now use bundled payments for third-party research and trading commissions, subject to certain requirements being...more
On 7 August 2024, the UK Financial Conduct Authority (FCA) published an update regarding its ongoing assessment of crypto firms’ adherence to the cryptoasset financial promotions rules introduced in October 2023. See our 23...more
August 9, 2024 - The U.S. Department of the Treasury, Federal Reserve Board, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, Securities and Exchange Commission, Commodity Futures Trading...more
The House of Lords Financial Services Regulation Committee announced that it has reopened the following inquiries into: The Financial Conduct Authority's enforcement guidance consultation (CP24/2). The deadline for...more
Welcome to the latest edition of the Spectrum, covering hot-topic issues in the structured finance markets in the U.S. and UK. This edition features the new UK securitization regime, eHELOCs, and climate risk disclosures....more
The Prudential Regulation Authority has published a policy statement on the leverage ratio treatment of omnibus account reserves and minor amendments to the leverage ratio framework. PRA rules require firms to exclude from...more
Key topics in Akin’s July 2024 Sustainability/ESG Policy and Regulatory Update include: Updated Assessment of SFDR by EU Regulators: The European Supervisory Authorities have proposed changes to the Sustainable Finance...more
The Payment Systems Regulator (PSR) and the Financial Conduct Authority (FCA) have launched a joint call for information on the opportunities and risks of digital wallets for people and businesses. This comes as recent data...more
Coinciding with the publication of its first report on how it has taken forward its new secondary UK competitiveness and economic growth objective, the FCA has published a Call for Input (CfI) on how far it may be appropriate...more
As implementation of the EU’s Digital Operational Resilience Act (DORA) approaches, financial market participants and their technology service providers (both in and out of Europe) face a critical compliance deadline. The new...more
INTRODUCTION - Asset managers (i.e., investment advisers) offering funds in more than one country are accustomed to adapting to different regulatory requirements. However, the challenges presented by the global regulation...more
Firms have just over six months until the transition period for implementing the UK Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) and the Bank of England rules and guidance on operational resilience...more
Compliance with UK MAR depends on effective systems - The UK Market Abuse Regulation (UK MAR) requires firms to identify and report instances of potential market abuse. Their ability to do this depends on the effectiveness...more
On 11 July 2024, the Financial Conduct Authority (FCA) published Policy Statement PS24/6 (Policy Statement), in which it sets out its final UK listing rules and summarises feedback to its earlier consultation and stakeholder...more
The U.K. Financial Conduct Authority has finalized its regulated fees and levies 2024/25. These include the FCA periodic fees, the Financial Ombudsman Service general levy, Money and Pensions Service levies, Devolved...more
July 5, 2024 - Federal Reserve Bank of New York President and CEO John C. Williams gave a speech entitled, “Managing the Known Unknowns,” at the Suresh Tendulkar Memorial Lecture, Reserve Bank of India, Mumbai, India....more
Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. Key developments in June 2024: 28 June PRIIPs Regulation: The Joint Committee...more