On November 23, 2018, the FCA published its second Brexit consultation, Consultation Paper 18/36: Brexit: Proposed changes to the Handbook and Binding Technical Standards – second consultation (CP18/36). In CP18/36 the FCA sets out its proposals for amending the Handbook and onshoring BTS related to those statutory instruments that HM Treasury published after its first Brexit consultation paper published in October. A list of the HM Treasury statutory instruments and BTS covered by the consultation can be found in Annexes 3 and 4 of CP18/36.
December 13, 2018
The findings of our recent review into the state of recovery and resolution laws for banks against the Financial Stability Board’s (FSB) Key Attributes have been published as a chapter in the European Investment Bank’s (EIB) new study, "Banking in Africa: Delivering on Financial Inclusion, Supporting Financial Stability".
November 30, 2018
There are two methods which allow the marketing of alternative investment funds (AIFs) in the EU by alternative investment fund managers (AIFMs).
Since the global financial crisis, there has been an ever-increasing focus globally on holding those in senior positions within regulated financial institutions accountable for their actions.
November 01, 2018
Following on from the FCA’s consultation papers on Brexit which were published earlier this month, the Bank of England (BoE) has now issued a package of communications setting out proposed changes to its rules and some of the binding technical standards that have been allocated to it under the Financial Regulators’ Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018.
October 26, 2018
One of the biggest impacts of Brexit will probably be felt in the financial services industry and within that by investment banks as the EU’s central hub, London, will lose full access to the single European Market.
Much has been written about the impact of Brexit on wholesale financial services, but surprisingly much less attention has been given to its impact on retail financial services.
October 18, 2018
On October 10, 2018, the FCA published Consultation Paper 18/29: Temporary permissions regime for inbound firms and funds (CP18/29).
Italy’s highest court, the Corte di Cassazione (Cassazione) has published a decision concerning claims-made clauses. In this summary, we report on this recent decision and its impact on future rulings by Italian courts dealing with claims-made clauses in insurance contracts.
October 01, 2018
The financial services industry constitutes around 7 per cent of UK GDP, directly employs 1.1 million people (two thirds of them outside London) and contributes a significant proportion of tax revenue to the UK.
September 19, 2018