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In June 2022, the Hong Kong Securities and Futures Commission (SFC) proposed a number of sweeping enforcement-related reforms which would have, among others, significantly enhanced the SFC’s ability to obtain investor compensation orders against regulated persons who had committed wrongdoing if enacted. Read more
The FCA has today published its policy statement and final rules (PS23/4) on improvements to equity secondary markets. This forms part of the Wholesale Markets Review (WMR) conducted by the FCA and HM Treasury (HMT) and follows a consultation in July 2022 (see our blog post here). The changes also support the objectives set out in the FCA’s Strategy 2022‑2025 and its recent business plans which include a commitment to strengthen the UK’s position in wholesale markets. 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 March and April 2023.Read more
The Stock Exchange of Hong Kong Limited (SEHK) recently published its new Guidance Note on Cooperation (Cooperation Note) and revised Enforcement Sanctions Statement (Sanctions Statement). The Cooperation Note is a brand new guidance note that stresses SEHK’s expectations regarding cooperation. It sets out examples of good cooperation with the possible benefits and examples of uncooperative conduct with the possible consequences. Read more
On 9 December 2022, the Chancellor of the Exchequer announced a package of reforms to the UK financial services sector – the "Edinburgh Reforms". We posted a summary of the Edinburgh Reforms here. To help you digest the proposals, we have created a series of webcasts which will explain:
what the key proposals are
who they might impact
next steps and timing
the potential significance and impact of the proposals
The Chancellor of the Exchequer has announced a set of reforms which, in tandem with the Financial Services and Markets Bill, the governments hopes will drive growth and competitiveness in the financial services sector. The Chancellor has made a written statement to Parliament on the measures proposed. 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 October and November2022. 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
The FCA has published a consultation on proposals aimed at improving the functioning of equity secondary markets (CP22/12). The proposals include changing aspects of trade reporting, waivers from pre-trade transparency and the tick size regime, and replacing the systematic internaliser (SI) status criterion for establishing when an investment firm is required to report transactions with a new designated reporter regime. Read more
