This fourth article of a series on crypto assets considers which crypto assets are subject to the market abuse regulation (MAR), and the particular challenges that may present. Read more

On 29 October Lord Sharkey introduced a Private Members' Bill into the House of Lords, which proposed amending the Financial Services and Markets Act 2000 ("FSMA") to empower the FCA to introduce a duty of care owed by authorised persons to consumers in carrying out regulated activities under FSMA (the "Bill"). The Bill proposed that a duty of care be defined as an obligation to exercise reasonable care and skill when providing a product or a service. Read more

On 31 October 2019, the Hong Kong Securities and Futures Commission (SFC) published a circular (Circular) on the use of electronic data storage providers (EDSPs) by licensed corporations (LCs). In the Circular, the SFC has reminded LCs of their obligation to ensure the preservation and integrity of those records or documents they are required to keep under the Securities and Futures Ordinance (SFO) and the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (collectively, Regulatory Records) – and stressed that this obligation continues to apply even where LCs rely on EDSPs either exclusively or in conjunction with on-site data hosting. Read more

Every quarter our financial services regulatory team publishes the Financial Services Regulatory Timeline, a look ahead at key regulatory milestones in the coming months and years in a range of areas, created for our clients in financial institutions. Three areas covered in the Timeline are Financial Crime, Enforcement, and Market Abuse. For the readers of our corporate crime e-bulletins, we have produced these sections as a Calendar of key developments in Financial Crime, Market Abuse and Enforcement which can be accessed here. Read more

In this blog post, we round-up forthcoming developments in the UK and at EU and International levels in financial services regulation which are expected for November 2019. Read more

In a circular issued to authorised institutions (AIs) on 23 October 2019, the Hong Kong Monetary Authority (HKMA) indicated that it will conduct a regular survey to collect information on AIs’ exposures referencing interbank offered rates (IBORs) and their progress in preparing for transition to alternative reference rates (ARRs). Depending on the survey results, the HKMA will take appropriate follow up action. Read more

On 16 October 2019, the FCA published its Feedback Statement on Climate Change and Green Finance. The paper summarises the key themes arising from feedback to the FCA's Discussion Paper (18/8) as well as the FCA's responses and intended next steps. Read more

The Hong Kong Securities and Futures Commission (SFC) and the China Securities Regulatory Commission (CSRC) have reached a consensus to commence preparations for an investor identification regime for southbound trading of the Mainland-Hong Kong Stock Connect (Stock Connect). Read more