Tag Archives: Competition

UK FCA ASSET MANAGEMENT MARKET STUDY – FINAL REPORT

On 28 June 2017, the FCA published the highly anticipated final findings of its Asset Management Market Study ("Final Report"), which can be accessed here. This follows the release of its interim report in November 2016 and the subsequent intensive … Continue reading

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Filed under Asset management, FCA, Funds, Regulatory Reform

Managing risk: a disputes perspective (2017)

Herbert Smith Freehills recently held its annual disputes client conference exploring some key legal and compliance risks facing major corporates. Following opening remarks by Mark Shillito, head of dispute resolution for the UK and US, there were presentations on cyber … Continue reading

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Filed under Banking, Commercial Litigation, Insurance, Investigations, Investment banking, Investment Funds, Retail Banks, UK

UK: FCA Asset Management Market Study – Interim Report

The FCA has published its Asset Management Market Study Interim Report, which can be accessed here, with annexes. The FCA sets down a clear marker as to its direction of travel. Clearly uninhibited by Brexit on the horizon, it is … Continue reading

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Filed under Asset management, FCA, UK

UK: Concurrent competition powers for the Financial Conduct Authority and Payment Systems Regulator

On 1 April 2015 the Financial Conduct Authority (FCA) obtained new concurrent competition powers under the Competition Act 1998 (CA98) and the Enterprise Act 2002 (EA02) for financial services in the UK. The Payment Systems Regulator (PSR) has also obtained … Continue reading

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Filed under FCA

UK: FCA’s competition remit – new Memorandum of Understanding between the CMA and FCA sets out framework for co-operation between both regulators

The Competition and Markets Authority (CMA) and the Financial Conduct Authority (FCA) have agreed a new Memorandum of Understanding (MoU) which sets out a framework for co-operation between the two regulators in relation to competition issues, consumer protection, access to … Continue reading

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Filed under FCA, Regulatory Reform, UK

EU: the European Commission’s proposed Directive on Payment Accounts

The European Commission has published proposals for a Directive on the transparency and comparability of payment account fees, payment account switching and access to basic payment accounts.   

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Filed under Banking, EU, Europe, European Regulation, Retail Banks, Uncategorized

UK: BoE and FSA relax the barriers to entry for new bank entrants

The FSA and the Bank of England (BoE) have published the results of their review into barriers to new entrants to the banking sector.  The Review sets out significant changes to regulatory requirements and authorisation processes which, taken together, aim to … Continue reading

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Filed under Bank of England, Banking, FCA, FSA, PRA, Regulatory Reform, UK

UK: Financial Conduct Authority (FCA)’s Risk Outlook and Business Plan for 2013 published

The FCA’s Risk Outlook (FCA RO) has been published today, setting out the regulator’s current thinking on conduct in financial markets by analysing the root causes and emergence of conduct risk, and identifying the forward-looking risks that the FCA deems pose the greatest … Continue reading

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Filed under Asset management, Banking, Client Money, Europe, FCA, Funds, Insurance, Investment Funds, Regulatory Reform, Retail Banks, UK

Temporary Product Intervention Rules: inadequate safeguards

The FSA is consulting (as it is required to do under the Act) on the new power given to the FCA under the Financial Services Act 2012 to issue temporary product intervention rules without the chore of a consultation (CP12/35). … Continue reading

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Filed under FCA, FSA, FSA Consultations, FSA Rules, Herbert Smith Freehills, Regulatory Reform, Retail Banks, UK