Monitoring the progress of the Financial Services and Markets Bill and regulatory divergence between the UK and the EU will continue as a key theme in 2023. The Financial Services and Markets Bill leaves a significant amount of the essential regulatory detail to be developed later by HM Treasury (through regulations), followed by development of … Continue Reading
As the FCA’s remit continues to grow, the regulator pledges flexibility in the face of global financial and geopolitical headwinds. By Rob Moulton, Anne Mainwaring, Jaime O’Connell, and Dianne Bell On 7 April 2022, the FCA released its new Business Plan as part of a package including a three-year strategy document setting out the outcomes … Continue Reading
This annual publication outlines some of the primary focus areas in 2022 for UK-regulated financial services firms. There has been a marked shift away from dealing with immediate post-Brexit priorities to more fundamental consideration of the direction of travel of UK financial services regulation, and this is borne out across many of the topics covered … Continue Reading
FCA makes clear that it expects a cultural shift in how firms focus on consumers. By David Berman, Nicola Higgs, Rob Moulton, and Charlotte Collins On 7 December 2021, the FCA published its second Consultation Paper (CP21/36) on introducing a new Consumer Duty. This follows an earlier consultation in May 2021, which set out high-level … Continue Reading
The FCA is proposing to set higher expectations for firms operating in retail markets. By Andrea Monks, David Berman, Jon Holland and Charlotte Collins On 14 May 2021, the FCA published a Consultation Paper (CP21/13) on introducing a new Consumer Duty. This consultation is intended to fulfil the FCA’s new statutory obligation to consult on … Continue Reading
