The FCA publishes proposals to ban sale of crypto-derivatives to retail consumers

The Financial Conduct Authority (“FCA“) has published proposals to ban the sale of derivatives or exchange traded notes (“ETNs“) which reference certain types of cryptoassets (“crypto-derivatives“), to address harm posed to retail consumers. The scope of the ban would extend to the sale, marketing and distribution of all derivatives (ie. options, futures and contracts for … Read more

FCA calls for input on proposed Cross-sector Sandbox by 30 August 2019

New technologies, such as artificial intelligence (“AI“) and distributed ledger technology (“DLT“), continue to have a significant impact on the way in which firms, customers and regulators interact.  Firms introducing innovative business models whose products or services fall under the jurisdiction of different sectoral regulators can find themselves having to address competing regulatory expectations. As … Read more

Corporate Crime update – Spring 2019

Welcome to the Spring 2019 edition of our corporate crime update – our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters. Our update now covers a number of jurisdictions. Read more

FCA’s First Annual Perimeter Report – have you crossed the line?

The FCA has published its first annual perimeter report, reflecting on perimeter issues. The perimeter is basically the legal boundary determining what the FCA regulates (and therefore also what it does not regulate). Andrew Bailey, CEO of the FCA commented that the perimeter “is tested by the actions of particular firms and how those actions … Read more

Herbert Smith Freehills launches new banking litigation blog

Our Banking Litigation team has launched their new Banking Litigation Notes blog, focusing on the latest banking litigation developments of interest to financial institutions.  The team’s first post highlights our recent briefing on the latest communication from the FCA and PRA to ensure firms are properly prepared for the transition from LIBOR to alternative interest rate … Read more