News & Analysis as of September 18, 2024

Financial Services Authority › United Kingdom

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The Financial Services Authority is an independent financial regulatory body within the United Kingdom. The FSA establishes standards for most financial services markets, exchanges, and firms and pursues legal... more +

Economic Crime and Corporate Transparency Act 2023 - anti-money laundering considerations for the regulated sector

A&O Shearman on 10/27/2023

As part of the Economic Crime and Corporate Transparency Act 2023, there are two new 'pay-away' exceptions to the need for a firm in the regulated sector to file a Defence against Money Laundering - Previously a firm in...more

UK Sustainability Disclosure Requirements – A Recap

Morrison & Foerster LLP on 9/29/2023

The UK’s financial services regulator, the Financial Conduct Authority (FCA), has delayed the release of its policy statement setting out the final rules of the Sustainability Disclosure Requirements (SDRs), leaving asset...more

The Brexit Freedoms Bill and the MiFID Override for Financial Services Regulation

A&O Shearman on 10/25/2022

U.K. financial regulation includes a small and unusual provision, the so-called “MiFID override,” which prioritises the EU’s MiFID II regime over the U.K.’s own regulatory framework when determining questions of what is...more

Funds and asset management regulatory news, April 2021 # 2

Hogan Lovells on 4/26/2021

FCA approach to handling of Connaught complaints about FSA/FCA -Following the report of Raj Parker's "Independent Review into the FSA and FCA's handling of the Connaught Income Fund Series 2 and connected companies", the...more

UK Ring-Fencing Order Brings Full Regime Into Force From January 2019

A&O Shearman on 12/17/2018

The U.K. Financial Services (Banking Reform) Act 2013 (Commencement No. 12) Order 2018 has been made. The Order brings into force, from January 1, 2019, those provisions of the Financial Services (Banking Reform) Act 2013 on...more

Decisions of a private body acting as a ‘Skilled Person’ cannot be judicially reviewed

A&O Shearman on 11/30/2018

In an important decision on when private bodies can be subject to judicial review, the Court of Appeal confirmed that KPMG’s decisions as a “Skilled Person” (per s166 Financial Services and Markets Act 2000 (FSMA)) in a...more

UK Legislation Implements Financial Services and Markets Act 2000 Updates to Secondary Legislation

A&O Shearman on 10/31/2016

The Financial Services (Banking Reform) Act 2013 (Consequential Amendments) (No. 2) Order 2016 was made...more

Enforcement Week I: Troubling Questions Raised in HSBC Prosecution

Thomas Fox - Compliance Evangelist on 7/18/2016

We had an interesting week of anti-corruption enforcement actions last week, both in the US and the UK. We have now had four Foreign Corrupt Practices Act (FCPA) enforcement actions since the announcement of the Depart Of...more

Latest Keydata enforcement action sets out valuable lessons for compliance officers

A&O Shearman on 7/1/2016

In this decision report we consider the FCA's final notice issued to Peter Francis Johnson on 19 May 2016. ?Mr Johnson was formerly the compliance officer and money laundering reporting officer (MLRO) for Keydata...more

FCA Chief announces Project Innovate: Helping Firms Meet the Technological and Regulatory Challenge

Pillsbury - Global Sourcing Practice on 6/19/2014

The head of the UK's Financial Conduct Authority, Chief Executive Martin Wheatley, used a speech at Bloomberg, London given on 3 June 2014 to promote the FCA's Project Innovate (the drafted text of Martin Wheatley's speech...more

Behind the Curve – Are Legal & Regulatory Concerns Preventing UK Financial Service Companies from Fully Harnessing Social Media?

Morrison & Foerster LLP on 8/26/2013

Today’s consumers want to engage in a new way with the companies from which they buy goods and services. Although some UK financial services organisations are leading the way in terms of their use of social media, on the...more

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Financial Services Authority › United Kingdom

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