On 22 November 2018, there was published the draft Political Declaration setting out the framework for the future relationship between the EU and the UK. Amongst other things, the Political Declaration considers the future of cooperation in the financial services sector:
On 21 November 2018, HM Treasury published explanatory information for two upcoming EU Exit statutory instruments (SIs):
On 21 November 2018, the FCA published a speech delivered by Rob Gruppetta, Head of the Financial Crime Department, entitled ‘AI and financial crime: silver bullet or red herring?’. Some of the key points to note from the speech include:
On 22 November 2018, the European Investment Bank (EIB) published the fourth edition of its banking in Africa report. This latest report, Banking in Africa: Delivering on Financial Inclusion, Supporting Financial Stability, includes the results of the EIB’s survey of banking groups operating in Africa. It also contains three thematic chapters which address the
On 24 May 2018, the European Commission released a set of legislative proposals on financing sustainable growth. Among these legislation proposals was a draft Regulation on the establishment of a framework to facilitate sustainable investment.
On 21 November 2018, the European Parliament’s Committee on Economic and Monetary Affairs (ECON) published a draft report (dated 16
On November 16, 2018, the Securities and Exchange Commission (“SEC”) issued a statement on the application of federal securities laws to the issuance and trading of, and investment in, digital asset securities. While the statement encourages technological innovations that benefit investors and capital markets, it emphasizes that market participants must still adhere to federal securities
On 20 November 2018, the FCA published a webpage summarising its research into designing effective current account prompts, together with the full report (the Report). The research was conducted following banks and building societies committing to deliver a package of prompts to their customers. These prompts aim to: increase consumers’ engagement with their current account,
On 20 November 2018, the Bank of England (BoE) published a letter (dated 19 November 2018) sent to chief finance officers (CFOs) of firms within scope of its statement of policy on valuation capabilities to support resolvability (SoP). The letter notifies firms of the SoP published in June 2018 and is intended to provide
On 20 November 2018, the Bank of England (BoE) published a press release announcing a change of publication date for the Financial Stability Report and BoE stress testing results. These items, scheduled for 5 December 2018, will now be instead published on 28 November 2018. The date has been changed to allow the BoE to
On 19 November 2018, the Credit Transfers and Direct Debits in Euro (Amendment) (EU Exit) Regulations 2018 were made, and have been published on legislation.gov.uk. The draft Regulations were first published on 5 September 2018 (our blog on which can be found here), and were subsequently amended and laid before Parliament on 8