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In this blog post, we round-up key forthcoming developments in the UK and at EU and International levels in financial services regulation which are expected to happen in October and November2022. Read more
The Financial Conduct Authority (FCA) has this month published its policy statement (PS22/11) confirming its final rules reshaping the Appointed Representative (AR) regime to make authorised financial firms acting as principal more responsible for their ARs.
The FCA had previously set out its proposals and invited feedback in a consultation paper (CP21/34) in December 2021. In seeking to address harms and protect consumers, these proposals focused on: (i) collecting additional information on ARs and strengthening reporting requirements for principals; and (ii) clarifying and strengthening the responsibilities and expectations of principals. Read more
In a speech delivered at Mansion House on 19 July 2022, the Chancellor of the Exchequer, The Rt Hon Nadhim Zahawi MP, sets out the government's vision for the future of UK financial service and discusses proposals which aim to keep the UK "the most open, inclusive, welcoming, competitive, safe, and transparent place to do financial services business, in the world". The government's vision for a "more open, competitive, green, and technologically enabled" financial sector is being delivered in the form of the Financial Services and Markets Bill (Bill) which was introduced in Parliament today. Read more
On 5 April 2022, the Spanish Council of Ministers approved a Draft Bill on the creation of an Independent Financial Ombudsman (Autoridad Administrativa Independiente de Defensa del Cliente Financiero, the "Financial Ombudsman"). Read more
In this blog post, we round-up key forthcoming developments in the UK and at EU and International levels in financial services regulation which are expected to happen in February and March 2022. Read more