Aug 16, 2024 FCA criticises auditor for CASS report failings By Sara Cody Duncan Campbell Simon Treacy In a first of its kind, the Financial Conduct Authority has censured an auditor for failing to report breaches of the FCA’s client asset...
Aug 02, 2024 A changing landscape: Bank of England’s approach to innovation in money and payments By Simon Treacy Against the backdrop of a rapidly evolving payments landscape, the Bank of England has launched a discussion paper on how it should...
Jul 04, 2024 EU institutions explore AI in financial services By Simon Treacy As our mid-year legal outlook shows, the legal impact of AI adoption is not limited to the tech sector. Financial services firms are...
Apr 25, 2024 CRO letter from PRA: Thematic review of private equity related financing – what do banks need to do before the August 2024 deadline? By Premlata Fagan In recent months regulatory focus has been on the scale, breadth, complexity and interconnectedness of banks’ private equity related...
Mar 14, 2024 Your guide to UK Banking Regulation in 2024 By Alastair Holt Simon Treacy Alastair Holt and Simon Treacy have co-authored the UK chapter for GLI’s Banking Regulation 2024. Banks continue to operate in a...
Mar 14, 2024 UK unveils measures to curb de-banking By Harry Eddis Frances Hodgkins Arjun Lakhani Olivia Murphy Bethan Poole Simon Treacy +3 more... Show less New draft legislation shows how banks and other firms will have to give customers more info when ending payment contracts. The reforms,...
Feb 26, 2024 Four options for firms to consider when approaching the EU’s CRD6 By Jankee Gohil Simon Treacy As the legislative process for CRD6 / CRR3 comes to a close, attention is turning to what firms need to do to comply with the incoming...
Feb 02, 2024 PRA issues second largest fine for historic failings: what can we learn from this week’s action? By Clare McMullen Joseph Richmond Saurabh Gupta Stephen Clipsham +1 more... Show less On the day it confirmed a change to its penalty policy that many expect will lead to larger penalties, the PRA issued its second largest...
Jan 16, 2024 New SMCR fine: right-sizing controls to your business risk (and SMF delegations) By Joseph Richmond Duncan Campbell Saurabh Gupta Bit by bit, enforcement actions are giving us more clarity on what “reasonable steps” means for senior managers. The latest news: the...
Dec 13, 2023 Prioritisation and sequencing: FCA doubles down on savings rates - and says Consumer Duty enforcement is coming By Quynh McGrath Elizabeth Dowd FCA Chair Ashley Alder and CEO Nikhil Rathi just appeared before the Treasury Committee. They reported on various areas of interest...
Dec 13, 2023 Financial Regulation Legal Outlook 2024 By Rakhee Pattani Our Financial Regulation Outlook 2024 explores the key regulatory developments that we expect to see in the Banking, Asset Management and...
Nov 20, 2023 EBA speech draws connection between AI and operational resilience By Raza Naeem Terry Yiangou Simon Treacy Amber Heron +1 more... Show less The European Banking Authority has published a speech by its chair, José Manuel Campa, on operational resilience in EU financial...
Oct 27, 2023 FCA reviews how payments firms stop money mules ahead of Government action plan By Simon Treacy Snapshot:FCA shares findings from review of payment account providers’ systems and controls against money mule activityFirms are...
Oct 13, 2023 Update on recent financial regulatory developments in the U.S. By Stephen Clipsham Brad Caswell Our U.S. Financial Regulation Group have published their latest update covering the most critical regulatory developments in the U.S....
Oct 02, 2023 Proposals for a revised UK ring-fencing regime By Michael Kent Peter Bevan Sumit Indwar Alastair Holt +1 more... Show less On 28 September 2023, the Government published its long-trailed consultation paper outlining proposals for material near-term reforms to...
Sep 11, 2023 FCA calls on wholesale banks to keep up standards By Premlata Fagan FCA writes to CEOs at wholesale banks about its priorities.Bosses told to show how their firms manage risks.CEOs must agree next steps...