Global Financial Regulatory Blog

Tag Archives: financial services

UK Regulators Launch Discussion on Diversity and Inclusion

Discussion Paper opens debate on potential new rules to improve diversity in financial services. By Rob Moulton, David Berman, Paul Davies, and Charlotte Collins On 7 July 2021, the FCA, the PRA, and the Bank of England published a joint Discussion Paper on diversity and inclusion in the financial sector. The regulators, in particular the … Continue Reading

UK Chancellor Outlines Future for Financial Services Post-Brexit

Equivalence decisions for EEA states, green finance and fintech initiatives are at the forefront of the UK government’s priorities. By Rob Moulton, Anne Mainwaring, and Anna Lewis-Martinez On 9 November 2020, the UK Chancellor of the Exchequer, Rishi Sunak, delivered a statement setting out plans for the start of a new chapter for UK financial … Continue Reading

HM Treasury Consults on Post-EU Financial Services Regulatory Framework

The UK government signals a diversion from the onshored regime towards a more flexible financial services regulatory framework. By Rob Moulton, Anne Mainwaring, and Anna Lewis-Martinez HM Treasury has published a consultation paper marking the start of Phase II of its financial services review, which will focus on the broader regulatory framework for financial services … Continue Reading

Singapore: New Best Execution Requirements

MAS confirms regulatory approach for best execution and timeline for compliance. By Farhana Sharmeen and Marc Jia Renn Tan On 3 September 2020, the Monetary Authority of Singapore (the MAS) issued a response to feedback about its proposal for capital markets service license holders, banks, merchant banks, and finance companies that conduct certain regulated activities … Continue Reading

Singapore: MAS Issues New Accountability Guidelines for Senior Management

The guidelines aim to strengthen the accountability of senior managers in financial institutions. By Farhana Sharmeen and Marc Jia Renn Tan On 10 September 2020, the Monetary Authority of Singapore (the MAS) issued guidelines (the Guidelines) to strengthen the accountability of individuals who are employed by, or acting for or by arrangement with, financial institutions, … Continue Reading

SMCR: FCA Updates Expectations on Fitness and Propriety Assessments and Conduct Rules Training

The FCA has provided updated guidance on the SMCR for solo-regulated firms, with new information on good and bad practices in two key areas. By David Berman and Anna Lewis-Martinez On 14 August 2020, the FCA updated its webpage on the Senior Managers and Certification Regime (SMCR) for solo-regulated firms. The updates include tables setting … Continue Reading

UK Government Proposes to Strengthen Protections Around Promotion of Financial Products and Cryptoassets

HM Treasury is planning significant changes to the financial promotion regime, including expanding its scope to certain cryptoassets, and amending the approval process for promotions of unauthorised firms. By Stuart Davis, Sam Maxson, and Anna Lewis-Martinez On 20 July 2020, HM Treasury published two consultation papers on a regulatory framework for approval of financial promotions … Continue Reading

HM Treasury Responds to the Call for Evidence on Regulatory Coordination

Financial Services Regulatory Initiatives Forum and the Regulatory Initiatives Grid to be introduced this summer. By: Anna Lewis-Martinez and Rob Moulton On 11 March 2020, HM Treasury published its response to the Call for Evidence on Regulatory Coordination. In the summer of 2019, the government launched HM Treasury’s Financial Services Future Regulatory Framework Review to … Continue Reading

HM Treasury Kicks Off Financial Services Future Regulatory Framework Review

Call for evidence on regulatory cooperation marks the first phase of the planned review. By Carl Fernandes, Nicola Higgs, Rob Moulton, and Charlotte Collins The Chancellor announced in the Spring Statement that HM Treasury would undertake the Financial Services Future Regulatory Framework Review — examining the long-term effectiveness of the UK regulatory regime and considering … Continue Reading
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