Another step in the transformation of the FCA: Using the new cancellation and variation power

The FCA has published Consultation Paper 21/28: New cancellation and variation power: Changes to the Handbook and Enforcement Guide (CP21/28). The proposals in CP21/28 relate to and provide guidance on the new power which the regulator was given under the Financial Services Act 2021 (FS Act) to allow it to act more quickly where an FCA-authorised firm is not – or does not appear to be – carrying on FCA-regulated activities. Read more

European Commission announces new EU AML Package

On 20 July 2021, the European Commission (the “Commission”) announced a package of four legislative proposals (the “Package”) to strengthen its anti-money laundering and countering the financing of terrorism (“AML/CFT”) rules. Read more