Banking & finance

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FCA Rules on Diversity and Inclusion
20.05.2022

On 20 April 2022, the FCA published PS22/3, setting out its policy statement and final rules on diversity and inclusion on company boards and executive management (Policy Statement) building on the proposals in Consultation Paper 21/24 (CP21/24). The Policy Statement introduces new Listing Rules (Listing Rules) and amendments to the ...
Tokenised Funds Series: Paper 4 – Disputes considerations
18.05.2022

CMS has published a series of papers in collaboration with the IA. These papers explore the basics of tokenised funds, the regulatory considerations, and prospectus disclosures that may be necessary. This is the fourth paper in which we look at the dispute resolution considerations in the context of tokenised funds. ...
The Privy Council's Quincecare decision in RBSI v JP SPC 4
18.05.2022

In a decision that will be welcomed by banks, the Privy Council has held that a bank’s Quincecare duty does not extend beyond being a duty owed to the bank’s customer. The Privy Council’s decision in Royal Bank of Scotland International Ltd (Respondent) v JP SPC 4 and another (Appellants) ...
Securities litigation - meaning of "persons discharging managerial responsibility" under FSMA
17.05.2022

Introduction In a recent decision the English High Court has clarified the meaning of “persons discharging managerial responsibility” for the purposes of establishing liability under s.90A/Sch 10A of FSMA. In doing so the High Court declined the defendant’s application for strike out and summary judgment of the institutional investors claim ...
Climate Transition Plans: UK call for evidence launched
16.05.2022

Until 13 July 2022 comments are sought on the approach to be adopted for climate transition plans for UK companies and financial institutions. Launched by the Transition Plan Taskforce (‘TPT’), mandated by the UK Government to develop a ‘gold standard’ for transition plans, feedback is requested on 22 questions relating ...

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Agency Database

Netherlands Authority for the Financial Markets

Term:

Netherlands Authority for the Financial Markets

Other Names:

AFM

Definition:

Area:

Type:

Regulator

Country:

Netherlands

URL:

http://www.afm.nl/en
SIX Exchange Regulation

Term:

SIX Exchange Regulation

Other Names:

Definition:

Area:

Type:

Regulator

Country:

Switzerland

URL:

https://www.ser-ag.com/en/home.html
Slovenian Bank Association

Term:

Slovenian Bank Association

Other Names:

Združenje bank Slovenije (ZBS)

Definition:

Area:

Type:

Trade Association

Country:

Slovenia

URL:

http://www.zbs-giz.si/en/
Surveillance of the Financial Sector Commission

Term:

Surveillance of the Financial Sector Commission

Other Names:

Commission de Surveillance du Secteur Financier (CSSF)

Definition:

Responsible for financial regulation in Luxembourg. The competent authority for the authorisation and supervision of payment institutions (article 20); and MiFID.

Area:

Type:

Regulator

Country:

Luxembourg

URL:

http://www.cssf.lu/en/
Swedish Central Bank

Term:

Swedish Central Bank

Other Names:

Sveriges Riksbank

Definition:

Responsible for monetary policy with objectives of maintaining price stability and promoting a safe and efficient payment system.

Area:

Type:

Regulator

Country:

URL:

https://www.riksbank.se/sv/
Swiss Financial Market Supervisory Authority

Term:

Swiss Financial Market Supervisory Authority

Other Names:

FINMA

Definition:

Area:

Type:

Regulator

Country:

Switzerland

URL:

http://www.finma.ch/e/Pages/default.aspx
Securities Industry and Financial Markets Association (SIFMA) [Defunct]

Term:

Securities Industry and Financial Markets Association (SIFMA) [Defunct]

Other Names:

SIFMA Europe, AFME

Definition:

Defunct. Merged with LIBA to form AFME

Area:

Type:

Trade Association

Country:

EU

URL:

http://www.sifma.org/
Swiss National Bank

Term:

Swiss National Bank

Other Names:

SNB

Definition:

Conducts monetary policy; ensures price stability.

Area:

Type:

Regulator

Country:

Switzerland

URL:

http://www.snb.ch/en/

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Latest sector news

24.05.2022
BIS: Diversity and inclusion – embracing the true colours in financial supervision
This FSI Insights paper looks at emerging regulatory approaches on D&I practices of financial institutions. It finds that although there has been noticeable progress in improving...
firms' D&I practices most of the progress has focused on gender diversity. It suggests that standards and guidance on D&I might be helpful to accelerate the pace of progress and broaden the scope beyond gender.
Supporting links:
- Link 1
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24.05.2022
ECB: Enhancing cooperation in the fight against money laundering
This joint blog by Elizabeth McCaul and Edouard Fernandez-Bollo looks at three areas of supervision where enhanced cooperation between AML/CFT supervisors and prudential supervisors can improve...
the effectiveness of supervision. These are: granting authorisations and withdrawing licences; assessing and reassessing board members, and identifying deficiencies in the control environment.
Supporting links:
- Link 1
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24.05.2022
FCA: Mutual societies registration function
This webpage provides an update on FCA’s work over 2021/22 and a breakdown of societies on the register.
Supporting links:
- Link 1
24.05.2022
HMT: Speech by John Glen
Text of John Glen’s speech follows, in which he discusses legislative changes to support the credit unions sector to be included in the forthcoming Financial Services...
and Markets Bill.
Supporting links:
- Link 1
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24.05.2022
BoE: 2021 Biennial Exploratory Scenario
BoE has published the results of the scenario on financial risks arising from climate change. BoE notes that UK banks and insurers need to do much...
more to understand and manage their exposure to climate risks.
Supporting links:
- Link 1
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Partner Details

Simon Morris
Partner +44 20 7367 2702 simon.morris@cms-cmno.com View CV

Paul Edmondson
Partner +44 20 7367 2877 paul.edmondson@cms-cmno.com View CV

Ash Saluja
Partner +44 20 7367 2734 ash.saluja@cms-cmno.com View CV

Iain Batty
Partner +48 22 520 5528 iain.batty@cms-cmno.com View CV

Joachim Kaetzler
Partner +49 69 71701 132 joachim.kaetzler@cms-hs.com View CV

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Banking & finance

Latest Reports

Top report

FCA Rules on Diversity and Inclusion

Tokenised Funds Series: Paper 4 – Disputes considerations

The Privy Council's Quincecare decision in RBSI v JP SPC 4

Securities litigation - meaning of "persons discharging managerial responsibility" under FSMA

Climate Transition Plans: UK call for evidence launched

Jargon Buster

Agency Database

Latest sector news

BIS: Diversity and inclusion – embracing the true colours in financial supervision

Supporting links:

ECB: Enhancing cooperation in the fight against money laundering

Supporting links:

FCA: Mutual societies registration function

Supporting links:

HMT: Speech by John Glen

Supporting links:

BoE: 2021 Biennial Exploratory Scenario

Supporting links:

News Wizard

Partner Details

Simon Morris

Paul Edmondson

Ash Saluja

Iain Batty

Joachim Kaetzler