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On February 26, the UK’s Financial Conduct Authority (FCA) wrote to Chief Executives in the asset management and alternatives sector to set out their current supervision priorities (the Portfolio Letter).
The UK’s Treasury has set out an Action Plan to ensure that regulation promotes growth and investment. Noting that while regulation has many benefits, the UK’s current stance is hindering its international competitiveness through unnecessary and disproportionate regulatory requirements.
In Primary Market Bulletin 54, the Financial Conduct Authority addresses concerns about deliberate, unintentional and unlawful disclosure of market sensitive information during ongoing M&A transactions.
The UK’s Financial Conduct Authority has published findings from its multi-firm review of valuation processes for private market assets.
As set out in our previous Cabinet News & Views issue of December 2024 here, the Court of Appeal has found that some commissions paid to car dealerships for arranging loans were potentially unlawful as the loan agreements did not disclose the amount of commission the lender was paying to the broker with sufficient clarity, and adequate customer consent was not received.
As previewed in our prior Cabinet News &Views issue here, the UK’s Accelerated Settlement Taskforce Technical Group has published its implementation plan for the first day of trading for T+1 settlement to be scheduled for 11 October 2027.
The UK’s Prudential Regulation Authority has recently published various statements regarding its current approach to its regulation of banking in the UK, including delaying implementation of Basel 3.1 rules.
Regulation (EU) 2022/2554 on digital operational resilience for the financial sector (“DORA”), which establishes a uniform set of requirements relating to the security of network and information systems supporting financial system participants’ business processes, is now live as of 17 January 2025, without any transitional provision.
The UK’s Prudential Regulation Authority has issued a consultation paper on proposals for rules and expectations for regulated firms to report operational incidents and material third-party arrangements in order to collect data to enable monitoring and responses to risks.
The UK’s Financial Conduct Authority and Prudential Regulation Authority have issued a joint policy statement on their guidelines for the prudential assessment of acquisitions and increases in qualifying ‘controlling’ holdings in regulated firms.