Search Filters

Advanced Search Advanced Search
Date range:

Showing 61 - 70 of 1635 matches

  • Crowdfunding: The Council for the EU publishes the next step towards an EU Crowdfunding Regulation

    On 26 June 2019, the Council for the European Union published a compromise proposal in relation to the European Commission’s draft framework to regulate crowdfunding platforms in the EU (the "Crowdfunding Regulation"). The proposed regulation is part of the Council’s efforts to improve access by investors and businesses to new financing sources.  The compromise proposal published follows the European...
  • PRA Dear CEO Letter to Fast Growing Firms

    On 12 June 2019 the PRA published a new ‘Dear CEO’ letter summarising the regulator’s findings from a review of 20 non-systemic deposit taking firms that it has undertaken over the past year. The firms reviewed are mostly growing faster than the market as a whole, so the PRA refers ...
  • The overdraft market - a new era

    Described as the “biggest overhaul to the overdraft market for a generation”, the FCA has announced the introduction of reforms to address what it sees as a dysfunctional overdraft market. This follows on from their consultation paper which, alongside the repeat use remedies (mentioned below), will come into force on 18 December 2019.
  • Brexit news for financial services firms - from 25 May 2019 to 7 June 2019

    1. FCA/AFM: JOINT AGREEMENT FCA and the Dutch Authority for the Financial Markets (AFM) met on 3 June 2019 and have signed a joint agreement of cooperation (the text of which has not been published). FCA notes that, in addition to building cooperation and information sharing post-Brexit, the agreement also ...
  • 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 ...