The Minister for External Relations of the Government of Jersey (GoJ) recently announced a public consultation seeking views on a number of proposed changes to the operation of the Common Reporting Standard (CRS) and the US...more
On October 5, 2023, the Department of Finance (Canada) launched a public consultation as part of its periodic review of the key statutes governing federally-regulated financial institutions: the Bank Act, the Insurance...more
The government is consulting on proposed draft legislation that will bring BNPL within the FCA’s regulatory perimeter. Whilst a proportionate approach may be evident in the tailoring of pre-contractual information...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. It is expected that the implementation...more
The European Commission has published a Communication detailing the Sustainable Europe Investment Plan that will support the European Green Deal Investment Plan. The Communication is accompanied by a proposed Regulation to...more
The Financial Stability Board has published a progress update on its ongoing work to tackle market fragmentation. The update follows the FSB’s June 2019 Report on Market Fragmentation, which explored the link between market...more
In 2012, the Wheatley Review recommended reform rather than replacement of LIBOR, on the basis that a transition to a new benchmark would pose an unacceptably high risk of financial instability. Reform came in the form of a...more
The Equator Principles Association (EPA) has released the much-awaited draft text of Equator Principles 4 (EP4). Further consultation of the draft text will be coordinated by the EPA in July and August, and it is anticipated...more
The Financial Stability Board has published a progress report on the activities and work plan of its Cyber Incident Response and Recovery working group. The working group was established in 2018 with a mandate to develop a...more