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Showing 81 - 90 of 1186 matches filtered by 'Banking and finance'

  • 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 ...
  • Regzone Webinar Series

    Webinars available on demand: This page contains recordings of CMS webinars, available to view on demand. Webinars are a convenient way to stay informed and hear from our legal experts. CMS Fintech Bytes Listen to all episodes here. Future of Finance in CEE: Impact of Brexit on finance transactions in ...
  • Has the Chancellor introduced enough new developments to make a difference to the FinTech sector? (Part 2 of 2)

    In his keynote speech opening London FinTech Week, the Chancellor of the Exchequer, Rishi Sunak, announced a series of new policy developments relating to FinTech. In particular: the launch of a new FCA ‘scale box’ and Centre for Finance, Innovation and Technology (“CFIT”); and new initiatives relating to the UK’s ...
  • Wide range of new initiatives announced for UK FinTech by Chancellor (Part 1 of 2)

    On 19 April 2021, during his opening keynote speech at a launch event for FinTech Week, the Chancellor of the Exchequer, Rishi Sunak, announced new proposals for UK FinTech, as follows: A new FCA ‘scale box’ and Centre for Finance, Innovation and Technology (“CFIT”) would be launched; A new Central ...
  • Default Notices for Consumer Credit Agreements: Have you made the changes?

    Firms are reminded that the required amendments to default notices must be made by 2 June 2021. The Consumer Credit (Enforcement, Default and Termination Notices) (Coronavirus) (Amendment) Regulations 2020 (“Amending Regulations”) came into force on 2 December 2020 and the 6-month transitional period firms were granted to apply these changes ...