The Financial Services and Markets Bill – a new vision for future UK financial services

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

FCA consults on the new Consumer Duty

The FCA has published CP 21/36 which includes proposed new rules and guidance setting out a Consumer Duty which it considers will "fundamentally shift the mindset of firms" and establish an appropriate level of care to consumers. The consultation is open until 15 February 2022 and the FCA expects to confirm any final rules by the end of July 2022. Read more

Global FSR Outlook 2022: Anticipating change, being prepared

We are pleased to announce the launch of our Global FSR Outlook 2022. In this annual publication, our FSR team surveys the regulatory landscape for 2022 and identifies themes that we expect to be at the core of regulatory priorities globally over the next 12 months.
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PRA Seeks to Clarify Meaning of ‘Insurance Holding Company’

The PRA is proposing to introduce a new definition of 'insurance holding company' into its rulebook (CP17/21).  The change means that some companies that are currently regarded as 'mixed-activity insurance holding companies' would probably be reclassified as insurance holding companies for the purposes of group supervision. Read more