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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
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.
With a month to go until the Investment Firms Prudential Regime (IFPR) starts to apply on 1 January 2022, the FCA has published its final policy statement (PS21/17). PS21/17 contains final rules and feedback to the FCA's third consultation on IFPR, CP21/26. The FCA has made some relatively minor adjustments and clarifications and affected firms should consider how to factor in these changes within their IFPR implementation. Read more
When the UK authorities published their final policy on operational resilience at the end of March 2021, it was broadly acknowledged – including by the PRA itself – that the operational resilience landscape would continue to develop. The latest act on the UK stage is the PRA's proposals to apply the group provisions in the Operational Resilience Part of the PRA Rulebook relevant to Capital Requirements Regulation (CRR) firms to holding companies. 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 December 2021 and January 2022.Read more
Scott Balber and Pamela Terry have contributed to Global Investigations Review’s The Guide to International Enforcement of Securities Laws with a chapter entitled “Strategic Considerations in Cross-Border Investigations”. Read more
On 9 November 2021, HM Treasury (HMT) published a consultation paper on the Future Regulatory Framework Review for financial services. This paper builds on the topics and feedback received to the previous consultation paper from October 2020 and the broader vision for Better Regulation set out in the BEIS consultation from July 2021. Read more
The Hong Kong Securities and Futures Commission (SFC) has recently announced a disciplinary action against a licensed corporation and its manager-in-charge (MIC) for internal control failures relating to its placing activities and recording of client order instructions. Read more
On 2nd November 2021, Jessica Rusu, the Chief Data, Information and Intelligence Officer at the Financial Conduct Authority (FCA) spoke at the Chief Data Officer Exchange for Financial Services forum. The speech provided a useful round-up of the FCA's focus on data across its operations and activities. Read more
