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Showing 51 - 60 of 1160 matches filtered by 'Banking and finance'

  • China Futures Law: netting, collateral and prudential requirements for banks

    The Standing Committee of the National People’s Congress of the People’s Republic of China (the “NPC”) published a draft Futures Law in May. The main purpose of the Futures Law is to codify the law in relation to futures (being standardized exchange-traded derivatives). The Futures Law also regulates other markets, ...
  • Bitesize Briefings: FCA - Difficult Conversations

    FCA - Difficult Conversations Sometimes things don't go to plan and when that happens, firms may find themselves having difficult conversations with the FCA. Our bitesize breakfast briefings are packed with practical tips based on our collective experiences, designed to help you navigate those conversations and manage challenging situations. Episode ...
  • Cryptoassets and fraud – remedies available from English courts

    In ION Science Ltd v Persons Unknown and others[1], the English Commercial Court added to a string of recent judgments which offer effective remedies for dealing with frauds and thefts related to cryptoassets. The judgment further reinforces that cryptoassets can be treated as “property” under English law and is a ...
  • FCA’s findings into cryptoasset consumer research 2021 – what does the public think of crypto?

    On the 17th of June 2021, the Financial Conduct Authority (“FCA”) released a new publication covering insights gathered from research into consumer attitudes towards the ownership of cryptocurrencies.[1] This is the fourth study on this topic that the FCA has conducted since October 2018, examining potential harms and benefits to ...
  • PRA publishes draft rules and statement of enforcement policy for bank holding companies

    On 21 June 2021, the Prudential Regulation Authority (“PRA”) published a Consultation Paper (CP12/21) detailing its proposals to apply its existing rules for consolidated prudential requirements and certain notification requirements at the level of UK bank holding companies directly, rather than at the level of their regulated subsidiaries as has ...
  • Pay for your coffee with crypto? In El Salvador you can!

    The FCA announced on 3rd June 2021 that they were extending the end date of the Temporary Registrations Regime (“TRR”) for existing cryptoasset businesses from 9th June 2021 to 31st March 2022. On 8th June 2021, El Salvador President Nayib Bukele’s proposal to make bitcoin legal tender was approved by ...
  • Risk-weighting cryptoassets: BCBS consults on the prudential treatment of cryptoasset exposures

    On 10 June 2021, global standard setter the Basel Committee on Banking Supervision (“BCBS”) published a consultation on the prudential treatment of banks’ cryptoasset exposures, with comments to be submitted by 10 September 2021. This anticipated consultation follows earlier international and domestic statements on this topic, including the Financial Stability ...
  • Consumer credit information sheets updated by FCA

    The FCA has published revised consumer credit information sheets on its webpage. In accordance with section 86A of the Consumer Credit Act 1974, lenders are required to include a copy of the relevant information sheet when notifying a consumer that they are in arrears or default. The sheets have been ...
  • Back to the drawing board for Amigo: FCA succeeds in challenging its proposed Scheme of Arrangement

    The Court (Mr Justice Miles) has refused to sanction a scheme of arrangement (the “Scheme”) between ALL Scheme Limited (the “Company”) and its creditors. The Company is an entity within the Amigo group of companies (the “Group”). The Group is the provider of “guarantor loans”, offering credit to those who ...
  • FCA publishes ‘CP21/23: A new “Consumer Duty”’ (owed by financial services firms)

    On 14 May 2021, the Financial Conduct Authority published ‘CP21/13: A new Consumer Duty’, its consultation on introducing a new “Consumer Duty” for financial services firms dealing with consumers. The Consumer Duty proposed in this new consultation would relate to products and services sold to “retail clients” (a very wide ...