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Showing 51 - 60 of 978 matches filtered by 'Banking and finance'

  • Crowdfunding: FCA confirms new rules for P2P platforms

    On 4th June 2019 the Financial Conduct Authority (the “FCA”) published final rules for peer-to-peer (or P2P) lending platforms. The new rules are the result of the FCA’s consultation that launched in July 2018, with the FCA stating that the new rules are designed to help better protect investors and ...
  • FCA and PRA fines highlight firms' accountability for failures of their outsourcing providers

    The importance the financial regulators place on effective oversight and management of outsourcing arrangements has been highlighted by both the PRA and the FCA in the fines they have imposed totalling £1,887,252 on R.Raphael & Sons plc (the “Bank”) for failing to manage its outsourcing arrangements properly. Effective management of ...
  • Brexit news for financial services firms – from 10 May 2019 to 24 May 2019

    1. PRA: Speech by Sam Woods: Stylish regulation Text of this speech, given on 16 May 2019 follows, in which Sam Woods considers the UK system of regulation post-Brexit, including comparing the UK and EU approaches to regulation. He sets out six principles for an effective regulation framework and suggests ...
  • Brexit news for financial services firms - from 26 April 2019 to 9 May 2019

    1. HoC European Scrutiny Committee: 64th Report of Session 2017-19 Section 7 of the report discusses recent developments with regard to the powers of the EU’s supervisory authorities. Although the matter is no longer under scrutiny by the Committee, it has referred the matter to the attention of TSC. The ...
  • Recommended response to FCA warning to firms operating in general insurance sector

    This article first appeared on Practical Law, and is published with the permission of the publishers. Overview On 10th April 2019, the FCA issued three publications concerning the general insurance (GI) sector, alongside a clear warning to firms operating in this sector. These publications comprise the FCA’s findings of its ...
  • Brexit news for financial services firms from 13 April 2019 to 25 April 2019

    1. FCA: THE FUTURE OF FINANCIAL CONDUCT REGULATION A speech delivered by Andrew Baily on 23 April 2019 discussing, amongst other things, Brexit. The full speech can be accessed here. “Our regulatory landscape can be viewed as comprising two spaces, an EU and a non-EU one. By this I mean ...
  • Brexit update for financial services firms - week ending 12 April 2019

    In outline: On 11th April the EU published the text of the decision of the European Council in response to the UK’s request for a further extension of the Article 50 notice period (see Document 1 below and the UK acceptance at Document 2 below). The decision provides a second ...
  • Brexit update for financial services firms - week ending 5 April 2019

    In outline: The flow of Brexit related FS publications has slowed as we await the outcome of the UK’s application for a further extension of the Article 50 notice period (see Other publications below) and the special European Council on 10 April. The House of Commons European Scrutiny Committee published ...
  • Crowdfunding: European Parliament steps up investor protection in its amendments to proposed regulation

    On 27 March 2019 the European Parliament adopted its position on the Commission's proposals for common rules for crowdfunding platforms across Europe. The Commission published the original draft regulation (the "Crowdfunding Regulation") in March 2018, which proposed that national regulators have more responsibility for supervising crowdfunding platforms. This initiative forms ...
  • FCA publishes Mortgages Market Study: MS16/2

    On 26 March the FCA published Mortgages Market Study: Final Report (MS16/2.3). The final report focuses on first-charge residential mortgages and considers whether there is healthy competition in the mortgage market and contains an update on remedies. The FCA had previously published its interim report (MS16/2.2) and the terms of ...