HM Treasury unveiled yesterday its long awaited consultation paper for a new Insurer Resolution Regime ("IRR") with the consultation set to run until 20 April 2023. Read more

On 19 December 2022 the Bank of England ("BoE") published its annual report on Financial Market Infrastructures' ("FMIs") supervision which sketches the BoE's work undertaken during 2021/22 and sets out its supervisory approach for 2022/23 ("Report"). Read more

The FCA's review of firms' progress on implementing the Consumer Duty contains some important guidance for firms to follow in the lead up to 31 July 2023. Read more

The Upper Tribunal has issued its judgment in the case of Moneybrain Ltd v The Financial Conduct Authority. The judgment is relevant to cryptoasset businesses, particularly those dealing with tokens that have some (theoretical or practical) correlation to other assets, and the promotional material in respect of these tokens. Read more

What are authorised institutions (AIs) required to do when they receive a customer complaint? On 6 January 2023, the Hong Kong Monetary Authority (HKMA) issued its updated Supervisory Policy Manual (SPM) module IC-4 on complaints handling and redress. The updated IC-4 imposes new requirements on AIs under an enhanced complaints handling framework, in line with one … Read more

Herbert Smith Freehills LLP has published an article in Butterworths Journal of International Banking and Financial Law on artificial intelligence (AI) and the Consumer Duty. Read more

The IP Division of the Court of Rome has issued a preliminary injunction to prohibit the minting and marketing of Non-Fungible-Tokens (“NFT”) that, unauthorised, reproduced well-known trade marks owned by the Juventus football club. Read more

Herbert Smith Freehills recently hosted a webinar to discuss the way in which the recent Russian oil price cap measures will operate across the UK, EU and US and to consider the potential challenges that may arise for companies wishing to deal in Russian oil and those who provide related services. The introduction of the … Read more