The UK’s cryptoassets financial promotions regime – everything you need to know... April 25, 2024 United Kingdom: Cryptoassets are never far away from the news and have been the subject of increased regulatory scrutiny during the last couple of years, with the government and the FCA concerned by events in the crypto sector such as the collapse of FTX and increasingly volatile prices.
Financial Market Infrastructures (FMI) Sandboxes March 7, 2024 United Kingdom: In an effort to promote innovative technologies in financial services, HM Treasury now has a power to introduce financial markets infrastructure (FMI) sandboxes to facilitate the testing of new technologies. This represents an exciting new direction for regulation as an enabler for innovation, as well as providing opportunities for the UK to be at the forefront of the FinTech revolution.
A new regime for Financial Promotion Approvers January 31, 2024 United Kingdom: The financial promotions regime (FPR), which operationalises the financial promotions prohibition (FPP), has long been out of step with its more restrictive sister, the general prohibition regime.
The Financial Services and Markets Act 2023: The Senior Managers and Certification Regime (SM&CR) – where are we headed? November 9, 2023 United Kingdom: On 9 December 2022, the Chancellor of the Exchequer made a series of announcements which relate to reforms (at various stages of development) to drive growth and competitiveness in the financial services sector, commonly known and referred to as the "Edinburgh Reforms".
Accountability of the Payment Systems Regulator August 17, 2023 United Kingdom: The Financial Services and Markets Act 2023 (the Act) is a landmark piece of legislation. It introduces significant and far-reaching reforms to the UK's evolving financial services landscape. It is central to the Act's measures that the expert and independent UK regulators are better placed to address the nuanced and evolving financial services market by providing a flexible and responsive regulatory regime.
How will the new critical third party regime affect you? August 4, 2023 United Kingdom: Third-party service providers are an increasingly significant element of the global financial services (FS) ecosystem. They have been described as too important to fail and are perceived to present an increasing risk to financial stability.
The Financial Services and Markets Act 2023 – reform of cryptoassets regulation July 25, 2023 United Kingdom: Over recent years, cryptoassets and activities relating to their use have evolved into an increasingly complex market.
The Financial Services and Markets Act 2023: reform of the financial services regulators’ objectives July 13, 2023 United Kingdom: The proposed changes to the financial services regulators’ objectives are not only a matter of interest for regulated financial services, but are also significant for all those who use the financial markets.
Overview of the Financial Services and Markets Act July 3, 2023 United Kingdom: The Financial Services and Markets Act 2023 (the Act) is a landmark piece of legislation. It introduces significant and far-reaching reforms to the UK’s financial services landscape that will affect almost all financial services firms and those that use financial services and markets. The Act’s provisions will, directly or indirectly, affect us all.