Brexit Next: Legal Implications
The impact of Brexit - click here for the latest news on the impact in the financial services sector and here for a broader view for all businesses operating in, and trading with, the UK
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Post Lehman, regulators all over the world introduced legislative measures to prevent banks being “too big to fail”. Now the regulatory net is being more widely cast across the financial services industry to ensure it remains operationally resilient in the face of deep and fast-moving change.
A key focus of the Open Banking initiative is the use of technology to put consumers in control of their data, making it easier for them to move, manage, and make more of their money. In the insurance sector it is easy to draw many parallels. Like banks, many traditional insurers have extensive legacy systems, which can make digital transformation challenging, and hold or have access to vast data...
The European Court of Justice (CJEU) was recently asked to rule on the EU's Solvency II Directive (and all earlier legislations regulating life insurance) regarding the cancellation rights of insurance policyholders.
LIBOR transition has been firmly highlighted as a key topic for 2020 with the Bank of England (the Bank), the Financial Conduct Authority (FCA) and the Working Group on Sterling Risk-Free Reference Rates (RFRWG) publishing a series of documents outlining priorities and milestones for the coming year, to ensure firms are preparing for the cessation of LIBOR from the end of 2021.
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