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United Kingdom UK Brexit

Jones Day

FCA Consulting on Proposed Changes to the Derivatives Trading Obligation

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The Background: In 2021, the Financial Conduct Authority ("FCA") and HM Treasury began consulting on the Wholesale Markets Review (the "Review"), a broad review of the structure, functioning, and regulation of secondary...more

Mayer Brown

Labour's Plans for Financial Services Regulation: What We Know

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Labour have won the general election, with a landslide victory of 412 seats. We address the question for financial services firms: what are their regulatory plans for financial services? Although their election manifesto was...more

A&O Shearman

Bank of England Consults on Revisions to Statement of Policy on Enforcement

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On March 28, 2024, the Bank of England published a consultation paper on revisions to its Statement of Policy and Procedure on its approach to enforcement, published in January 2024, to reflect enhancements to the BoE's...more

A&O Shearman

HM Treasury Publishes Policy Statement on Next Phase of Smarter Financial Services Regulatory Framework

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On March 21, 2024, HM Treasury published a paper on the next phase of its Smarter Financial Services Regulatory Framework, the U.K.'s program of post-Brexit regulatory reforms for financial services. The original policy...more

A&O Shearman

UK Conduct Authority Consults on New Approach to Enforcement and Publication of Enforcement Investigations

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On February 27, 2024, the U.K. Financial Conduct Authority published a consultation on revisions to its Enforcement Guide, setting out proposals which aim to simplify the guidance and increase transparency around the FCA's...more

Latham & Watkins LLP

FCA’s 2024/25 Business Plan Signals Focus on Wholesale Markets Reform

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Fighting financial crime, protecting consumers’ needs, and bolstering wholesale markets are the regulator’s key priorities for the year ahead. On 19 March 2024, the FCA published its Business Plan for 2024/25, setting...more

Mayer Brown

Restructuring Downloaded: Episode 3

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In this episode Sheena Frazer and Amy Jacks discuss issues dealing with European assets post Brexit....more

Proskauer - Minding Your Business

UK Signs Hague 2019: New Clarity For Enforcement Of Choice Of Court Clauses In Finance Documents

Effective choice of court clauses (also known as jurisdiction clauses) are central to finance agreements. Reliable, certain process to enforce contractual obligations is essential for cross-border trade and finance...more

Cadwalader, Wickersham & Taft LLP

UK Government Confirms EEA UCITS Equivalent Under Overseas Funds Regime

To address the limitations of the current temporary marketing permission regime (“TMPR”), which permits EEA funds marketed in the UK before Brexit to continue to access the UK market, the UK government introduced the overseas...more

Cadwalader, Wickersham & Taft LLP

The Impact of the Retained EU Law - Revocation and Reform - Act 2023

The Retained EU Law (Revocation and Reform) Act 2023 (the “Act”) addresses domestic law that originally derived from the European Union, known as “retained EU law”. “Retained EU law” continued to apply to the UK at the end of...more

A&O Shearman

UK Financial Conduct Authority Publishes Rule Review Framework

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The U.K. Financial Conduct Authority has published its Rule Review Framework, setting out how it will set, measure and monitor the outcomes of its Handbook rules. The Rule Review Framework was mandated under the Financial...more

A&O Shearman

Planning ahead: our timeline of UK employment developments

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2024 promises to be a busy year for UK employers with plenty of changes to adapt to and prepare for. The post-Brexit employment law landscape continues to evolve, as new legislation has removed the special status of...more

A&O Shearman

Retained EU Law and EU Interpretive Principles Revoked from UK Statute Book

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The Retained EU Law (Revocation and Reform) Act 2023 (Consequential Amendment) Regulations 2023 (with related Explanatory Memorandum) came into force on January 1, 2024, clarifying that certain changes provided for under the...more

Morrison & Foerster LLP

Drafters Beware: Key 2023 English High Court Cases That May Affect Your Commercial Contracts in 2024 and Beyond…

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Although the general principles of English contractual law did not see a dramatic overhaul in 2023, parties to commercial contracts should still be aware of a number of cases in 2023 that tweaked, clarified or confirmed areas...more

A&O Shearman

The UK’s Lighter-Touch, Post-Brexit, Short Selling Regime

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The U.K. is currently engaged in a wide-ranging review of the inherited package of EU financial services law. The rules on short selling, which impose disclosure obligations and restrictions on persons seeking an economic...more

Littler

Legal Reforms in the UK: Clarity or Chaos for Employers on the Horizon?

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In the wake of the Retained EU Law (Revocation and Reform) Act 2023 (REUL Act) the UK Government has published draft regulations, with which employers will need to get to grips quickly as many of the new rules come into force...more

A&O Shearman

UK Almost Triples Spending on Subsidies Since Leaving the European Union

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Shearman & Sterling advises on many of the most significant subsidy matters in the UK and European Union. As part of this work, we have seen the increasing role that subsidy has played in the policy choices made by...more

Hogan Lovells

Steady as she goes - UK begins post-Brexit employment law reform

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The UK government has announced changes to employment law from 1 January 2024. It is branding some of the reforms, notably in relation to holiday and record keeping requirements, as a post-Brexit opportunity to remove...more

Trusaic

Class Action Pay Transparency Lawsuits On The Rise

Trusaic on

As we predicted, pay transparency has become a priority for employers worldwide in 2023. Governments and organizations are taking major steps to address disparities in pay and ensure workplace fairness. Failing to comply...more

A&O Shearman

Draft Legislation Published for Implementing UK's Retained EU Law (Revocation and Reform) Act 2023

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The draft Retained EU Law (Revocation and Reform) Act 2023 (Consequential Amendment) Regulations 2023, laid before Parliament on October 16, 2023, will implement certain aspects of the Retained EU Law (Revocation and Reform)...more

Katten Muchin Rosenman LLP

UK Financial Insights from Katten | Issue 3

UK Financial Insights from Katten is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds in the UK and Europe....more

Katten Muchin Rosenman LLP

Financial Markets and Funds Quick Take | Issue 18

Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more

Goodwin

Sunset on (some) Stamp Taxes: HMRC confirms 1.5% charge on issuance and capital raising transfers to depositary receipt and...

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HM Revenue & Customs (“HMRC”) has published a policy paper, accompanied by draft legislation, which confirms the removal of the 1.5% charge to stamp duty and stamp duty reserve tax (“SDRT”) on the issuance of UK shares into...more

A&O Shearman

Revocation of the Collective Investment in Transferable Securities (Contractual Scheme) Regulations 2013 is Postponed

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The Financial Services and Markets Act 2023 (Commencement No. 3) (Amendment) Regulations 2023 were made on August 25, 2023, postponing the revocation of the Collective Investment in Transferable Securities (Contractual...more

A&O Shearman

FCA Reviews Treatment of Politically Exposed Persons

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The U.K. Financial Conduct Authority has launched a review of the treatment by regulated financial services firms of Politically Exposed Persons based in the U.K. Firms are currently obliged, under the Money Laundering,...more

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