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. Continue reading
Tag: FCA
Regulation in Focus Podcast: FCA’s regulatory decision-making proposals – faster and less costly, but at what price?
The latest edition of our Regulation in Focus podcast series features Karen Anderson and Andrew Procter, both partners in our FSR practice and both former regulators, in conversation about the FCA’s plans to streamline regulatory decision-making, which – if the FCA proceeds as proposed – will be a significant change to how authorisation, supervision and enforcement are delivered. Karen and Andrew review the arguments which led to the establishment of the Regulatory Decisions Committee to provide independent administrative decision-making. They then outline the FCA’s plans for change and discuss whether the regulator has a strong case. Continue reading
FCA’s regulatory decision-making proposals – faster and less costly, but at what price?
The Financial Conduct Authority (FCA) has published its Consultation Paper CP21/25 on a new approach to decision making in the issuing of statutory notices, as had previously been foreshadowed in the 2021/2022 Business Plan. Continue reading
August 2021: The month ahead in financial services regulatory developments…
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 August 2021.
FCA CEO sets out transformational agenda for the regulator and the regulated – the 2021/22 FCA Business Plan
On 15 July, the UK Financial Conduct Authority (FCA) published its 2021/22 Business Plan. The FCA’s – still fairly new CEO – Nikhil Rathi took the opportunity to deliver an ambitious and wide ranging statement. He set out the new and existing challenges that the FCA faced as well as the clear changes he, and his executive team, were looking to make to the way in which the regulator operates. Continue reading
Bank of England and HMT announce CBDC Taskforce amid new plans to accelerate digitalisation of UK financial services
Yesterday the Bank of England (BoE) and HM Treasury (HMT) released a statement announcing the joint creation of a Central Bank Digital Currency (CBDC) Taskforce. The Chancellor has also announced ambitious and complementary plans to encourage growth of UK fintechs and “cement the UK’s position as the world’s pre-eminent financial centre.”
As the FCA identifies a culture dividend from diversity and inclusion, firms should prepare for more scrutiny
In the wake of the 2007/08 financial crisis, Neelie Kroes, EU Competition Commissioner, pithily summarised diversity and inclusion (D&I) shortcomings in the financial services industry with reference to a mythical ‘Lehman Sisters’ which, she said, would have weathered the storm better than the real Lehman Brothers.
Regulation in Focus Podcast Episode 4 – March 2021
The FCA’s recently released guidance on protecting vulnerable customers is the subject of our latest podcast. It features Karen Anderson, Cat Dankos and Ben Goodman from our contentious financial services regulatory practice in London, discussing how the guidance will further the FCA’s aim of ensuring that vulnerable consumers experience outcomes as good as other consumers and receive consistently fair treatment across all FCA regulated firms and sectors.
LIBOR Discontinuation: FCA non-representativeness announcement
The FCA today made its much anticipated announcement that all LIBOR settings will either cease to be provided by any administrator or will no longer be representative:
- immediately after 31 December 2021, in the case of all sterling, euro, Swiss franc and Japanese yen settings, and the 1-week and 2-month US dollar settings; and
- immediately after 30 June 2023, in the case of the remaining US dollar settings.
March 2021: The month ahead in financial services regulatory developments…
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 March 2021.