Draft Legislation
Transparency and the ownership of foreign companies – BEIS response to Call for Evidence
The Department for Business, Energy and Industrial Strategy (BEIS) has published the response to its Call for Evidence on the creation of a register of ownership and control of foreign companies that purchase property in the UK or enter into … Continue reading
Corporate Crime update – March 2018
Welcome to the March 2018 edition of our corporate crime update – our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters. Our update now covers a number of jurisdictions. For the full update on each jurisdiction, … Continue reading
Corporate Crime Monthly Update January 2017
Welcome to the January 2017 edition of our corporate crime update – our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters. Our update now covers a number of jurisdictions. For the full update on each jurisdiction, … Continue reading
Publication of the Criminal Finances Bill 2016-17
The Criminal Finances Bill 2016-17 (the "Bill") was presented to Parliament and had its first reading in the House of Commons on Thursday 13th October. In a press release on the same day, the Home Office stated that the new … Continue reading
Filed under Corporate Crime, Draft Legislation, UK Government
UK: FPC seeks new macro-prudential tools
The Bank of England’s Financial Policy Committee (FPC) has recommended that HM Treasury should exercise its statutory power to prescribe two new macro-prudential measures, thereby granting the FPC powers of direction in the residential mortgage market, covering both owner-occupied and … Continue reading
Filed under Bank of England, Banking, FCA, PRA, UK Government, Uncategorized
UK consults on bringing seven new benchmarks within the regulatory framework
The Government has launched a consultation on bringing additional financial benchmarks into the regulatory framework originally implemented for LIBOR. The consultation is based on recommendations by the Fair and Effective Markets Review, a joint review by HM Treasury, the Bank of … Continue reading
Filed under Banking, FCA, Regulatory Reform, UK, UK Government, UK Legislation
UK Insurance Bill introduced to Parliament aims to modernise business insurance law
Following publication of the report of the Law Commissions of England and Wales and of Scotland, making recommendations for reform to modernise business insurance law, the Government has introduced an Insurance Bill to Parliament which includes the majority of those … Continue reading
Filed under Draft Legislation, Insurance, UK, UK Government
UK: Chancellor announces joint review of how wholesale financial markets operate by HM Treasury, FCA and the Bank of England
The Chancellor has today announced the launch of a joint review by the Treasury, the Bank of England and the Financial Conduct Authority (FCA) into the way wholesale markets operate. The Fair and Effective Markets Review will focus on the wholesale … Continue reading
Filed under Bank of England, Banking, FCA, UK Government
UK: New Regulators’ Code now in force
On 6 April 2014 the new Regulators’ Code (the “Code”) replaced the Regulators’ Compliance Code, which dated back to December 2007. The Code applies to a range of regulators, including more than 50 national regulators, all local authorities and some … Continue reading
Filed under BIS, FCA, FSA, PRA, UK Government
UK: reviewing the fairness, transparency, speed and efficiency of enforcement decision-making processes at the FCA and the PRA
The Chancellor has launched a review of the fairness, transparency, speed and efficiency of the enforcement decision-making at the financial services regulators, as part of the government’s focus on strengthening accountability in the financial services industry. A call for evidence to … Continue reading
