Roundtable Discussion about the Future of Retail Banking
The UK’s Advertising Standards Authority (ASA) has ruled that two UK retail banking advertisements, which made claims about the financial institution’s green credentials, were “misleading” and “omitted material information.”...more
Welcome to Banking Bites! This is our short summary flagging key developments in the UK that we hope will inform your activities in your market....more
On 22 April 2022, the FCA published the findings of its review of financial crime controls at six relatively new and primarily digital challenger banks that all offer similar products to traditional retail banks. These six...more
A report from the Taskforce on Innovation, Growth and Regulatory Reform provides recommendations for how the UK can “re-imagine” its approach to regulation post-Brexit. On 16 June 2021, the Taskforce on Innovation,...more
On 14 May 2021, the FCA published Consultation Paper CP21/13 outlining much-anticipated proposals relating to the standards expected of regulated firms to ensure the protection of retail consumers. The Consultation Paper...more
The FCA is proposing to set higher expectations for firms operating in retail markets. On 14 May 2021, the FCA published a Consultation Paper (CP21/13) on introducing a new Consumer Duty....more
The UK Financial Conduct Authority (FCA) has published Sector Views, its annual report examining how each financial sector is performing....more
Hackers who targeted airport currency exchange mainstay Travelex in a ransomware attack on New Year’s Eve have alerted British media that they possess 5 GB of sensitive customer data from the company “since gaining access to...more
Disruption continues to be the norm for those in the payments and retail banking sectors. 2018 was dominated by preparations, or talk about preparations, for Brexit and 2019 started out in the same vein, with many firms...more
The U.K. Financial Conduct Authority has published a Progress Report on its Strategic Review of Retail Banking Business Models. The FCA launched the Review in April 2017 and published a purpose and scope document in October...more
In this newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset managers and...more