HMT Financial Services Future Regulatory Framework Review: call for evidence on regulatory coordination

HM Treasury (“HMT“) has launched the first phase (a call for evidence on regulatory coordination) in its Future Regulatory Framework Review (“the Review“), originally announced by the then Chancellor in his Spring Statement and more recently repeated in his 2019 Mansion House speech.

This Review is focused on improving the coordination between the various regulators/government bodies in the financial sector. Responses to the call for evidence are requested by 18 October 2019.

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UK: FCA’s competition remit – new Memorandum of Understanding between the CMA and FCA sets out framework for co-operation between both regulators

The Competition and Markets Authority (CMA) and the Financial Conduct Authority (FCA) have agreed a new Memorandum of Understanding (MoU) which sets out a framework for co-operation between the two regulators in relation to competition issues, consumer protection, access to payment systems and the sharing of information for the performance of their functions.  The MoU, dated 12 June 2014, replaces an earlier MoU of April 2013 between the CMA’s predecessor, the OFT, and the FCA.  Continue reading