In this blog post, we round-up forthcoming developments in the UK and at EU and International levels in financial services regulation which are expected for July 2021. Read more

The Taskforce on Innovation, Growth and Regulatory Reform (TIGRR) submitted its report on the UK's approach to regulation after its withdrawal from the EU to the Prime Minister on 15 June 2021. Read more

On Tuesday 8 June, the Bank of England launched its Climate Biennial Exploratory Scenario (BES), a stress-testing exercise on the financial risks from climate change. Read more

The Hong Kong Stock Exchange is to increase the profit requirement for companies seeking to list on the Main Board of the Stock Exchange by 60%. This is a smaller increase than was initially proposed in the consultation paper. This will mean that a listing applicant relying on the profit test to satisfy its eligibility for listing will need to have profits in its most recent financial year of not less than HK$35 million (increased from HK$20 million currently) and in the two preceding years, in aggregate, profits of not less than HK$45 million (increased from HK$30 million currently). These changes, as set out in the consultation conclusions, will become effective on 1 January 2022. Read more

In this blog post, we round-up forthcoming developments in the UK and at EU and International levels in financial services regulation which are expected for June 2021. Read more

The FCA has published an important consultation in respect of its enhanced powers under the UK’s legislative solution for the transition of so-called “tough legacy” LIBOR contracts, including the all-important question as to which legacy LIBOR contracts will be within the scope of the legislative fix: Benchmarks Regulation: how we propose to use our powers over use of critical benchmarks. Read more

On 29 April 2021, the Financial Services Act 2021 received royal assent. The Act is a milestone in implementing the UK Government’s wider Future Regulatory Framework initiative and represents the first major step towards HM Government’s objective of maintaining the competitive position of the UK financial services industry whilst capitalising on new opportunities following the end of the Brexit transition period. Read more

We are delighted to announce the launch of our new Climate Change Notes blog. With climate change experts across our global network, Herbert Smith Freehills is at the forefront of major developments. On our Climate Change Notes blog we share some of our industry-leading thinking. Read more