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
On 26 March 2024, the Financial Conduct Authority (FCA) issued its finalised guidance in relation to financial promotions on social media (Finalised Guidance). Background - The Finalised Guidance follows the FCA’s July...more
The FCA finalised social media guidance in relation to financial promotions published on 26 March 2024 acknowledges that social media has become a central part of firms’ marketing strategies allowing them to reach a large...more
Social media raises a novel set of risks and challenges to effective financial services regulation, particularly in the field of consumer protection and market integrity. Specifically, regulators have expressed concerns...more
In a move with significant implications for the crypto sector, the UK has enacted legislation to bring cryptoassets within the scope of the existing financial services regulatory regime. The relevant provisions of the...more
The FCA is continuing to crack down on firms and ‘finfluencers’ using social media for non-compliant and illegal financial promotions and this week has announced plans to update its existing guidance on social media and...more
The Financial Conduct Authority (FCA) is consulting on updated guidance on financial promotions on social media platforms, such as TikTok and Instagram. The last significant guidance on this topic was in 2015, which focussed...more
Regulator clarifies that existing FCA rules will continue to apply but will also reflect the evolving landscape of financial promotions on social media. On 17 July 2023, the FCA published a guidance consultation (GC23/2)...more
From 8 October 2023, marketing of cryptoassets in the UK will be subject to a general restriction on financial promotions,1 breach of which is a criminal offence. The restriction will apply to communications capable of having...more
In our Alert Marketing Cryptoassets and Services in and Into the UK: Shifting Regulatory Sands, we noted the policy statement issued by HM Treasury (HMT) on cryptoasset promotions and the Financial Conduct Authority (FCA)...more
On 1 February 1 2023, HM Treasury (HMT) issued a further policy statement on cryptoasset promotions in the UK, "Government approach to cryptoasset financial promotions regulation policy statement”. It updates HMT’s January...more
The regulator described the steps it is taking to increase scrutiny of advertisements about financial products and services on social media platforms. On 3 February 2023 the FCA published an analysis of its financial...more
In a previous client alert (New Risk Warning Rules for UK Private Fund Managers: Action Required), we discussed the rules governing the main risk warnings for financial promotions of high-risk investments, which came into...more
On the 6 December 2022, the Financial Conduct Authority ("FCA") published its consultation on a financial promotion approvals gateway. The consultation paper (CP22/27) considers how the gateway will operate, including how the...more
In our previous client alert, we mentioned the need for managers to review new rules contained in PS22/10, published by the UK Financial Conduct Authority (FCA). The rules governing the main risk warnings for financial...more
The U.K. Financial Conduct Authority has launched a consultation on proposed changes to the financial promotion rules. The proposals range from rules relating to the approval by authorized firms of financial promotions of...more
HM Treasury has launched a consultation on proposed changes to the financial promotion exemptions for high net worth individuals and sophisticated investors. The aim of the proposals is to mitigate the misuse of the...more
On 19 January 2022, the UK Financial Conduct Authority (“FCA”) published a consultation paper (CP22/2) (the “Consultation”) setting out its proposals to strengthen its financial promotion rules for high-risk investments...more