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Showing 71 - 80 of 1160 matches filtered by 'Banking and finance'

  • The FCA publishes further updated tailored support guidance for mortgage firms

    The FCA has published finalised tailored support guidance (TSG) for mortgage firms, setting out its expectations on repossessions from 1 April 2021. The regulator also published the Coronavirus linked forbearance: key findings from its review of mortgage and consumer credit firms’ implementation of its TSG and the operational readiness of ...
  • Government acts to bring Buy-Now-Pay-Later products within the regulatory framework

    Following the Woolard Review (“the Review”) earlier this year, HM Treasury announced plans to bring Buy-now-pay-later (“BNPL”) credit agreements into regulation. The Government has now brought forward legislation to this effect, taking the first step to bring these products within the regulatory fold. BNPL products Many BNPL credit agreements rely ...
  • UK Budget 2021: A bright future for the UK FinTech ecosystem?

    On the 3rd of March 2021, Chancellor Rishi Sunak announced the latest UK budget. However, it came hot on the heels of the ground-breaking Kalifa Review into the UK’s flourishing FinTech industry. The Review highlighted that the UK is primed to become a world-leading FinTech hotspot, with a 10% current ...
  • LIBOR: the end is (formally) nigh

    Today marks an important milestone in LIBOR transition, with a formal announcement from the FCA that publication of most LIBOR settings will cease at the end of 2021. In a smoothly orchestrated move highlighting the importance of today’s news, derivatives trade body ISDA has announced guidance in relation to the ...
  • Remuneration and Culture for Regulated Firms

    Welcome to the fourth article in our Executive Remuneration series. In this article, we expand on considerations and issues of culture within the context of remuneration for regulated firms, which were briefly touched on in previous articles within this series. Although there are a large number of other considerations that ...
  • Future UK fintech strategy published in Kalifa Review

    Following the 2020 Budget, the Chancellor asked Ron Kalifa OBE to carry out an independent review of the UK’s fintech sector to establish priority areas for industry, policy makers, and regulators. The Kalifa Review of UK Fintech (the “Review”) is now published, which: sets out the key threats and opportunities ...
  • Limits to the operation in Italy of UK banks and investment companies after Brexit

    Starting from 1st January 2021, the provision of banking, financial investment services in Italy by British banks, electronic money institutions, and investment firms shall be deemed to be abusive, unless they have obtained the required authorizations to operate as third-country firms by the competent supervisory authorities. It is worth noting ...
  • Synthetic LIBOR and tough legacy contracts - FCA's enhanced powers

    Last June the UK Government announced that it would take legislative steps to assist with a narrow pool of “tough legacy” contracts that cannot transition from LIBOR by the current deadline of end-2021. The purpose of this article is to discuss these proposed steps and the recent public consultations. On ...
  • Upcoming FCA Consultation: A duty of care and potential alternative approaches

    This Spring, the Financial Conduct Authority (FCA) is due to consult on proposals to introduce an extensive duty of care owed by financial services providers to consumers.[1] This consultation will mark the next phase in a long-running debate about whether the FCA’s regulatory framework is sufficient or applied effectively enough ...
  • The Woolard Review: Buy-now-pay-later firms to be regulated by the FCA

    In September 2020, the FCA requested its former interim CEO, Chris Woolard, to conduct a review of change and innovation in the unsecured credit market. Details of the Review were published in October and a Call for Input was issued in early November. On 2 February 2021, the Woolard Review ...