On 28 May 2024, the Financial Conduct Authority (FCA) published a new webpage setting out observations and insights on the preparations firms have made towards complying with PS21/3: Building operational resilience. The FCA is asking firms to ensure they
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HMT confirms firms designated for the provision of cash access services
On 28 May 2024, HM Treasury (HMT) confirmed which firms have been designated under Part 8B of the Financial Services and Markets Act 2000 for the provision of cash access services.
The firms that have been designated as relevant…
ESMA publishes report on application of MiFID II marketing requirements
On 27 May 2024, the European Securities and Markets Authority (ESMA) published a combined report on its 2023 Common Supervisory Action (CSA) and the accompanying Mystery Shopping Exercise (MSE) on marketing disclosure rules under MiFID II.
The findings set out…
EBA publishes final guidelines on STS criteria for on-balance-sheet securitisation
On 27 May 2024, the European Banking Authority (EBA) published its final guidelines on the simple, transparent and standardised (STS) criteria for on-balance sheet securitisations under Article 26a(2) of the Securitisation Regulation.
The main objective of the guidelines is to…
Building Societies Act 1986 (Amendment) Bill receives Royal Assent
On 24 May 2024, the Building Societies Act 1986 (Amendment) Bill 2023-24 received Royal Assent.
The Bill was introduced in December 2023 with the aim of helping building societies to access more funding from sources other than customer savings.…
The Securitisation (Amendment) Regulations 2024
On 22 May 2024, the Securitisation (Amendment) Regulations 2024 were made.
The explanatory memorandum published alongside the Regulations explains that they make amendments to the UK’s securitisation regime, as part of HM Treasury’s programme to deliver a Smarter Regulatory Framework…
FCA enforcement consultation – impact of the general election
Following on from our previous blog in relation to FCA CP24/2 (Our Enforcement Guide and publicising enforcement investigations – a new approach), the House of Lords Financial Services Regulation Committee has closed its call for evidence following the prorogation…
Latest FSCS Outlook Report
On 24 May 2024, the Financial Services Compensation Scheme (FSCS) published its Outlook Report for May 2024.
The Outlook Report provides an update on compensation figures and the levy for 2024/25, following the ‘first look’ that was published in…
New Global Regulation Tomorrow Plus Episode: FCA’s finalised guidance on the anti-greenwashing rule
In our latest Global Regulation Tomorrow Plus podcast we focus on the FCA’s finalised guidance on the new anti-greenwashing rule. We consider the scope of the new rule, the key differences between the finalised guidance and that consulted on, some…
FCA published Handbook Notice No 119
On 24 May 2024, the Financial Conduct Authority (FCA) published Handbook Notice No 119, which describes the changes made to the FCA Handbook by the Executive Regulation and Policy Committee and the FCA Board under their legislative and other…