Global Financial Regulatory Blog

Tag Archives: HM Treasury

Recap on Reforming the UK Capital Markets

A reminder of the ongoing reforms to implement recommendations from the Lord Hill and Kalifa Reviews. By James Inness, Anna Ngo, and Johannes Poon The outcome of the UK Secondary Capital Raising Review, launched on 12 October 2021 to improve further capital raising processes for UK publicly traded companies, was published by HM Treasury on … Continue Reading

Major Reforms to UK Secondary Capital Raising Processes

The landmark UK Secondary Capital Raising Review Report takes a holistic approach in making bold and comprehensive recommendations to improve the UK secondary capital raising processes and ecosystem. By James Inness, Anna Ngo, Ryan Benedict, and Johannes Poon On 19 July 2022, HM Treasury published the UK Secondary Capital Raising Review Report (the Report) that … Continue Reading

Wholesale Markets Review Consultation Response Aims for “Tailored” UK Approach

The consultation response heralds innovation-friendly reform to the UK wholesale capital markets regime. By Rob Moulton and Dianne Bell On 1 March 2022, HM Treasury published its response to the July 2021 consultation on the Wholesale Markets Review after considering the feedback received. The consultation response sets out changes that are expected to “liberate businesses … Continue Reading

UK Government Announces Fundamental Overhaul of the UK Prospectus Regime

The changes indicate a more dynamic and flexible UK prospectus regime with the FCA to play a central role through enhanced rule-making powers. By Chris Horton, James Inness, Anna Ngo, and Johannes Poon On 1 March 2022, the UK government (through HM Treasury (HMT)) announced the outcome of its consultation to reform the UK prospectus … Continue Reading

UK to Regulate Cryptoasset Promotions

HM Treasury has confirmed that it will bring certain unregulated cryptoassets within scope of the financial promotions regime. By Stuart Davis, Rob Moulton, and Charlotte Collins On 18 January 2022, the UK government confirmed its intention to bring the promotion of certain cryptoassets into scope of regulation. HM Treasury has been considering for some time … Continue Reading

Review of UK Appointed Representatives Regime to Increase Burden on Principal Firms

UK regulators are considering how they can strengthen the regime to enhance standards and reduce risk. By Nicola Higgs and Charlotte Collins On 3 December 2021, the FCA published a Consultation Paper (CP21/34) on changes to its rules regarding the Appointed Representatives (AR) regime. HM Treasury simultaneously published a Call for Evidence, seeking views on … Continue Reading

HM Treasury Initiates Post-Brexit Review of the UK’s AML and CTF Regime

Recent publications come in light of UK’s “greater autonomy” in setting AML and CTF regulations following Brexit. By Jon Holland, Rob Moulton, and Jonathan Ritson-Candler Background to the review On 22 July 2021, HM Treasury published both a Call for Evidence on a review of the UK’s anti-money laundering (AML) and counter-terrorist financing (CTF) regulatory … 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

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 Announces Welcome Proposed Amendments to the UK Benchmarks Regulation

The proposals enhance the FCA’s powers to ensure an orderly wind-down of critical benchmarks and to deal with “tough legacy” contracts that cannot transition from LIBOR. By Nicola Higgs and Ella McGinn On 23 June 2020, the FCA published a statement welcoming HM Treasury’s announcement that the Treasury intends to bring forward legislation to amend … Continue Reading

Brexit Progress Report: 1 of 10 Key Regulatory Focus Areas for UK/European Wholesale Markets in 2019

By David Berman, Carl Fernandes  Nicola Higgs, Rob Moulton and Charlotte Collins In our January publication, we highlighted what we were seeing as the top regulatory focus areas for our clients during the year ahead, focusing on wholesale market structures and conduct risk. In a series of 10 blog posts, we will take a closer look at … 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
LexBlog