News & Analysis as of

United Kingdom Risk Management

Herbert Smith Freehills Kramer

Handy client guide to privilege

We have published a client guide to legal professional privilege under English law. This guide comprises: A decision tree: intended as a quick reference to help determine which documents can legitimately be withheld on...more

Hogan Lovells

UK: FCA consults on a prudential regime for cryptoasset firms

Hogan Lovells on

As part its ongoing programme of consulting on elements of the new regulatory regime for cryptoassets, the FCA has published Consultation Paper CP25/15: “A prudential regime for cryptoasset firms”, and is inviting feedback...more

A&O Shearman

Basel Committee on Banking Supervision discusses key initiatives

A&O Shearman on

The Basel Committee on Banking Supervision (BCBS) had met to discuss a range of initiatives, following the GHOS meeting which took place earlier this month. The discussions focused on: Recent market developments and the...more

A&O Shearman

PRA Phase 1 of Pillar 2A review

A&O Shearman on

The UK Prudential Regulation Authority (PRA) has published a consultation paper (CP12/25) setting out Phase 1 of its Pillar 2A review. This first phase review seeks to address the consequential impact of the near-final PRA...more

White & Case LLP

PPP trends: Lessons learned from the UK and Australia

White & Case LLP on

Over the past 30 years, the United Kingdom and Australia have helped shape the global PPP landscape, setting the standard for private sector involvement in infrastructure delivery. As both countries now scale back their use...more

A&O Shearman

IOSCO publishes final reports on finfluencers, online imitative trading practices and digital engagement practices

A&O Shearman on

The International Organization of Securities Commissions (IOSCO) has published final reports on finfluencers, online imitative trading practices and digital engagement practices, accompanied by a press release. These reports...more

Skadden, Arps, Slate, Meagher & Flom LLP

PRA Announces Updates to Approach of Responsible Openness to International Banks

On 20 May 2025, the UK Prudential Regulation Authority (PRA) published a policy statement (PS6/25) on business conducted within branches of international banks operating in the UK, as well as its booking model expectations...more

Fox Rothschild LLP

Best Practices for Securing Data Used to Train and Operate AI Systems

Fox Rothschild LLP on

The National Security Agency’s Artificial Intelligence, Security Center (AISC), together with the Cybersecurity and Infrastructure Security Agency (CISA), the Federal Bureau of Investigation (FBI), the Australian Signals...more

Hogan Lovells

Unlocking Liquidity: How secondary sales support pension schemes in insurance buy-in/buy-outs

Hogan Lovells on

The market for insured risk transfer solutions for UK defined benefit pension schemes has continued to grow in recent years, as increased competition among insurers and improved funding positions has enabled more and more...more

Hogan Lovells

Raising the bar – Changes to mandatory and discretionary exclusions under the Procurement Act 2023

Hogan Lovells on

The Procurement Act 2023 (the "Act") introduces a more expansive and centralised exclusion regime. For compliance professionals, the implications are significant: exclusion can now arise from a broader range of conduct –...more

A&O Shearman

GHOS Meeting: Basel III implementation and climate-related financial risks

A&O Shearman on

The Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on Banking Supervision (BIS), met to discuss the implementation of Basel III and its work on climate-related...more

Thomas Fox - Compliance Evangelist

Daily Compliance News: May 21, 2025, The I Want You Back Edition

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen in to the Daily Compliance...more

A&O Shearman

CMORG AI Taskforce releases comprehensive AI Baseline Guidance

A&O Shearman on

The Cross Market Operational Resilience Group's (CMORG) AI Taskforce has released its AI Baseline Guidance Review (dated January 2025), accompanied by a press release. The CMORG AI Taskforce conducted a baseline review of...more

BCLP

UK Water Infrastructure: A Waterfall of Investment Opportunities, RAPID Success?

BCLP on

The UK's water sector is not just evolving; it is undergoing a monumental transformation, presenting infrastructure investors with an extraordinary chance to participate in building a more resilient and sustainable future...more

Hogan Lovells

Dear CFO: Liquid Assets? We would like to see receipts. Love, PRA.

Hogan Lovells on

Banks relying on back-leveraged SRT trades in the UK now face increased regulatory scrutiny. The PRA's "Dear CFO" letter warns that not all repo financings collateralised by SRT tranches meet the trading book’s liquidity...more

Hogan Lovells

CASS: An introduction to contingency planning

Hogan Lovells on

Hogan Lovells and Teneo have worked together to produce the first in a series of articles aimed at helping regulated firms (and particularly those that hold client money and safe custody assets) better understand the rules...more

Mayer Brown

PRA Consultation: Matching Adjustment Investment Accelerator (MAIA)

Mayer Brown on

INTRODUCTION - The recent “Solvency UK” reforms to Solvency II represent the UK’s tailored approach to insurance prudential regulation post-Brexit, aiming to enhance flexibility and competitiveness in the insurance...more

Alston & Bird

UK Publishes Software Security Code

Alston & Bird on

Cyber security supply chain risks are growing, and attacks on vendors and other third parties cause severe disruption to businesses. For example, in recent years we have seen many incidents that have involved threat actors...more

A&O Shearman

PRA consults on withdrawal of SS20/15: Supervising building societies' treasury and lending activities

A&O Shearman on

The Prudential Regulatory Authority (PRA) has published a consultation paper (CP/11/25) proposing the deletion of supervisory statement (SS) 20/15, which outlines the supervision of building societies' treasury and lending...more

A&O Shearman

FCA findings from smaller asset managers and alternatives business model review

A&O Shearman on

The UK Financial Conduct Authority (FCA) has published findings of its review of smaller asset managers and alternatives business models, together with a press release. The review formed part of the FCA's alternatives...more

Mayer Brown

RMBS Securitisation – FAQS: What You Need to Know About the FCA Consultation on New Rules for UK Mortgages

Mayer Brown on

The FCA issued a consultation paper on 7 May 2025 seeking feedback on regulatory proposals to simplify advice rules and affordability assessments for mortgages, making it easier, faster and cheaper for consumers to make...more

Hogan Lovells

Seeing the light: rights of light in the post protocol era and early resolution of disputes

Hogan Lovells on

We were delighted to be joined by our panel of leading rights of light experts, including Paul Tonkin and Jonathan Karas KC - the authors of the rights of light protocol - and Nathasha Bray and Jerome Webb, who were part of...more

Mayer Brown

UK Weekly Sanctions Update - Week of May 5, 2025

Mayer Brown on

In this weekly update, we summarise the most notable updates in the UK sanctions world. If you have any questions in respect of any of the developments set out below, please do not hesitate to contact a member of our London...more

A&O Shearman

Key elements of the 2025 CCP Stress Test

A&O Shearman on

The Bank of England (BoE) has published key elements to its 2025 Stress Test of UK Central Counterparties (CCPs), along with a spreadsheet containing the relevant market stress scenarios. This exercise, the fourth of its...more

Skadden, Arps, Slate, Meagher & Flom LLP

The PRA’s Views on the BPA Market and the Matching Adjustment Investment Accelerator

In a recent speech, Gareth Truran, the executive director of insurance supervision at the UK Prudential Regulation Authority (PRA), set out observations on growth in bulk purchase annuity (BPA) deals. The number of BPA deals...more

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