The FCA has confirmed changes to its rules to allow for an increase in the single transaction contactless payment threshold from £45 to £100. The contactless threshold for multiple transactions […] [...]

Mortgages The FCA’s Mortgages Tailored Support Guidance sets out its expectation that firms should not enforce mortgage repossessions, except in exceptional circumstances, before 1 April 2021. The FCA published updated […] [...]

On 23 February 2021, the FCA finalised its guidance setting out its view on how firms should comply with their obligations under the FCA’s Principles for Businesses and ensure that […] [...]

On 5 March 2021, the FCA announced the dates that panel bank submissions for all LIBOR settings will cease, after which representative LIBOR rates will no longer be available. This […] [...]

On 26 March 2021, HMT announced that technical negotiations were concluded on the UK and EU MoU. HMT states that formal steps need to be undertaken on both sides before […] [...]

On 19 March 2021, the FCA announced it was extending the temporary measures in relation to the requirement for firms to issue 10% depreciation notifications to investors, which were put […] [...]

On 24 March 2021, the FCA launched its campaign, ‘In confidence, with confidence’, encouraging individuals working in financial services to report potential wrongdoing to the FCA, and reminds them of […] [...]

On 9 April 2020, the PRA published its business plan for the year ahead. The PRA confirms that it has had to reassess its plans in light of COVID-19 and […] [...]

On 7 April 2020, the FCA set out its business priorities for the year ahead, with a specific focus on the challenges presented by the Covid-19 pandemic. Throughout the pandemic, […] [...]

In September 2019, the FCA and the PRA published their policy statement (PS) PRA PS 22/19 and FCA PS 19/23 on new reporting requirements which would apply to regulated mortgage […] [...]

On 29 March 2021, the FCA published a Decision Notice in respect of Jon Frensham (formerly known as Jonathan James Hunt), an independent financial adviser and the sole director at […] [...]

On 26 March 2021, the FCA summarised the feedback it received to its Call for Input in December 2019. This explored the opportunities and risks from open finance, as well as how […] [...]

On 29 March 2021, the Prudential Regulation Authority (PRA), the Financial Conduct Authority (FCA), and the Bank of England (‘the Bank’) in its capacity of supervising financial market infrastructures (FMIs), […] [...]

On 29 March 2021, the FCA published its final rules and guidance on new requirements to strengthen operational resilience in the financial services sector – PS21/3. In December 2019, the […] [...]

All firms under the obligations of SM&CR must have identified, certified & assessed their Certified Staff (“Directory Persons”) and have submitted the relevant information to the FCA before 31 March […] [...]

On 26 January 2021, the Basel Committee on Banking Supervision published for consultation two technical amendments to the standard on minimum haircut floors for securities financing transactions (“SFTs”). The technical […] [...]

The Financial Action Task Force (“FATF”) held a Plenary meeting between 22 and 25 February 2021.  Delegates representing the 205 members of the Global Network and observer organisations, such as […] [...]

On 16 February 2021, the Jersey Financial Services Commission (“JFSC”) issued a public statement relating to civil financial penalties totalling about £700,000 imposed on three companies in the SG Kleinwort […] [...]

On 17 January 2020, the Serious Fraud Office (“SFO”) updated its Operational Handbook to include a new chapter on evaluating a compliance programme. The update considers the relevance of compliance programmes […] [...]

On 26 February 2021, HM Treasury published an independent report on the UK Fintech sector by Ron Kalifa OBE.  At the Budget 2020, the Chancellor asked Ron Kalifa OBE to […] [...]