Recent Articles

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  30/04/2024

  Financial Services Webinars On Demand

  View recordings of CMS financial services webinars available on demand.Webinars are a convenient way to stay informed and hear from our legal experts. Webinars On Demand

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  25/04/2024

  CMS Banking Disputes Report 2024

  Working with litigation analytics company, Solomonic, CMS has published its Banking Disputes Report 2024, a data-driven review of the Banking and Finance sector’s dispute-related activity to identify key trends, how banking disputes are being determined in 2024 and what might lie ahead.Key findings of the 2024 report:The Banking and Finance sector had the highest volume of new High Court claims filed in 2023. This trend has continued into Q1 2024. Our report looks at the types of claims being filed.2023 demonstrated the “long tail” of market events with claims still being filed...

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  25/04/2024

  Spain: Parliamentary proceedings begin to create the Independent Administrative Authority for the Defence of Financial Customers

  On April 5, the draft law for the creation of the Financial Customer Defence Authority was published in the Official Gazette of the Spanish Parliament.1. INTRODUCTIONThe current text being processed includes modifications introduced in the previous legislature´s parliamentary procedure and which were supported by the majority of MPs. These modifications include the financing of the new Authority by financial institutions and the possibility of appealing binding decisions before the civil courts, thus guaranteeing the protection of financial clients.The Authority aims to resolve complaints...

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  11/04/2024

  Lexology Masterclass: The future of AI in financial services, where innovation meets regulation

  On 29 February, our CMS Financial Services Regulatory team and Nextwave hosted a Lexology Masterclass on the future of AI in financial services.In this webinar, we offered practical insights into how financial institutions are navigating the AI landscape, and looked at the challenges to regulating AI, how firms are approaching AI and how they can leverage existing technologies.By using the link below, anyone who wants to learn more or revisit the session can view the webinar on demand: Watch webinar  

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  10/04/2024

  FCA Consultation on Payment Optionality for Investment Research (CP24/7)

  On 10 April 2024, the FCA published a consultation on Payment Optionality for Investment Research (CP24/7). In the consultation, the FCA proposes a new option for asset managers when paying for investment research, in addition to existing options.  Under the current UK rules, which stem from the legacy EU MiFID II regime, there are two ways in which UK asset managers can currently pay for investment research: By agreeing a separate research charge with each of their clients, with the payment for research made from a Research Payment Account (the “RPA model”); and By paying...

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  02/04/2024

  ESMA feedback statement on shortening the EU settlement cycle reveals widespread industry concern

  The European Securities and Markets Authority (ESMA) has released a feedback statement summarising comments received from market participants during its consultation on shortening the EU settlement cycle.Under the EU Central Securities Depositories Regulation (CSDR), all transactions in transferable securities and other similar instruments executed on a trading venue must be completed no later than the second business day following the trade date. The CSDR also established a settlement discipline regime, which includes measures to prevent failed settlements.Since its adoption, financial markets...

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