News & Analysis as of

Governance Standards United Kingdom

Latham & Watkins LLP

FCA Sets Out Findings From Review of Firms’ Treatment of Vulnerable Customers

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The regulator found many examples of good practice, but also published further guidance and case studies to help firms address areas for improvement....more

Paul Hastings LLP

New Regulatory Era for English Football

Paul Hastings LLP on

On March 19, 2024, the U.K. government proposed legislation, known as the “Football Governance Bill”, which will introduce a new Independent Football Regulator (“IFR”). In short, and subject to ongoing Parliamentary debate,...more

Proskauer - Regulatory & Compliance

Consumer Duty Implementation: Good Practice and Areas for Improvement

On 20 February 2024, the United Kingdom’s Financial Conduct Authority (“FCA”) published guidance (the “Guidance”) on the implementation of the Consumer Duty. The Consumer Duty came into force for “open” products and...more

Mitratech Holdings, Inc

Happy birthday, ChatGPT! Celebrating 1 year with the top 10 milestones in AI governance

Mitratech Holdings, Inc on

A year in review for the ChatGPT (chatbot generative pre-trained transformer) — and a look ahead at the global response to AI & which governance “guardrails” are required. On November 30th, 2023, the world will celebrate...more

Latham & Watkins LLP

FCA Finds Further Improvement Needed on Design, Delivery, and Disclosure of ESG Funds

Latham & Watkins LLP on

The FCA has set out good and poor practices for asset managers to consider in relation to funds with ESG or sustainable characteristics. On 16 November 2023, the FCA published the findings from its review of how asset...more

Cadwalader, Wickersham & Taft LLP

UK Institute of Directors: UK’s FRC Should Maximize Adaptability of Governance Code

In September 2023, the UK’s Institute of Directors (IoD) announced its broad support for changes to the UK Corporate Governance Code proposed by the Financial Reporting Council (FRC). The FRC’s proposed revisions seek to...more

BCLP

FCA Primary Market Bulletin No. 44

BCLP on

Primary Market Bulletin No. 44 reminds issuers of the: ..use of multimedia content (including audio and video) in regulatory news announcements; ..FCA’s position on the requirement for a prospectus when shares are...more

ArentFox Schiff

UK FCA: United Kingdom’s Recent Focus on Consumer Best Interests

ArentFox Schiff on

In a welcome change in approach to financial market regulation, the United Kingdom’s Financial Conduct Authority (FCA) is requiring market participants to deliver good outcomes for consumers. On July 27, 2022, the FCA...more

Hogan Lovells

The Sun Also Rises on Pre-pack Administration Reform

Hogan Lovells on

In 2015, responding to mounting concerns about pre-pack administration sales, a set of voluntary industry measures were introduced to address the perceived lack of transparency and trust in the process – especially when the...more

Hogan Lovells

Coronavirus: Actions For Pension Trustees

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The COVID19 crisis has changed the landscape for pension scheme trustees. This note discusses the potential impacts and actions trustees should consider taking in relation to the following areas. ...more

A&O Shearman

UK Conduct Regulator Wants Asset Management Sector to Reflect on Risks to Customers and Markets

A&O Shearman on

The U.K. Financial Conduct Authority has published two letters addressed to the CEOs of firms in the asset management and funds sectors. The first letter is addressed to CEOs of FCA-authorized firms directly managing...more

Proskauer Rose LLP

UK Financial Conduct Authority Identifies Significant Shortcomings in Firms Operating Appointed Representative Platforms

Proskauer Rose LLP on

On 20 May 2019, the UK Financial Conduct Authority ("FCA") published its findings of its multi-firm review into the supervision by principal firms of their appointed representatives ("ARs") operating in the investment...more

Hogan Lovells

Charges and governance requirements for Defined Contribution pensions

Hogan Lovells on

This note sets out the areas in which restrictions on charges and governance requirements apply to trustees or managers of occupational money purchase schemes. These requirements have been introduced over the last two years...more

K&L Gates LLP

Brexit Broker; UK Leader Strikes a Deal (Maybe)

K&L Gates LLP on

This policy insight highlights some of the key political issues relating to the United Kingdom’s (UK) imminent referendum to decide whether to withdraw from the European Union (EU). After weeks of discussions and...more

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