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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
The PRA released its Business Plan 2023/24 on 2 May 2023. The plan sets out the PRA's planned activities grouped under four strategic priorities. Read more
The FCA has released its Business Plan 2023/24; the plan covers the second year in the FCA's three-year Strategy. This is one document among the annual publications issued by the regulator which provide insight into its priorities and focus... Read more
On 30 March 2023, HM Treasury launched a Call of Evidence, alongside Discussion Paper 23/3 jointly issued by the FCA and PRA, on the Senior Mangers and Certification Regime ('SMCR'). The review of the SMCR was announced as part of the Edinburgh Reforms which were unveiled by the Chancellor of the Exchequer, Jeremy Hunt, in December 2022. Read more
On 30 March 2023, the UK Government published (i) its updated Green Finance Strategy (Strategy) and (ii) a consultation on the future regulatory regime for Environmental, Social, and Governance (ESG) ratings providers (Consultation). Both publications are part of a wider set of ESG-related publications such as the Powering Up Britain – Net Zero Growth Plan … Read more
Overview This week, the government published the draft Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) Order 2023 (Order) along with an explanatory memorandum. This is the latest in a raft of measures enhancing the UK’s oversight of cryptoasset activities, raising consumer protection standards while providing greater certainty for business. The Order follows the … Read more
This article was first published in The Banker on 3 March 2023. Final decision yet to be made The world of money is changing. The received wisdom of “cash is king” has long been declining and the world is gradually moving to a more digitised banking space where digital deposits and payments have become dominant; … 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
