On 23 October 2020, the FCA published Handbook Notice 81.
This Handbook Notice describes the changes to the FCA Handbook and other material made by the FCA Board under its legislative and other statutory powers on 23 July 2020, 30 September 2020 and 22 October 2020. The FCA also provides feedback on the following
On 22 October 2020, HM Treasury issued a statement following the third meeting of the UK – US Financial Regulatory Working Group which met virtually on 20 October 2020. The statement outlines the key themes of the meeting and the main topics of discussion. The Working Group meeting focused on five key themes: (1) the
The Serious Fraud Office (SFO) on Friday published a chapter from its handbook, which offers “comprehensive guidance” on Deferred Prosecution Agreements (DPAs). This is the first set of guidance specific to the SFO, and sets out how the agency will approach its use of DPAs and engage with companies where a
The New York City Department of Finance (“NYCDOF”) has published for comment proposed rules which would establish criteria and program guidelines for the New York City Commercial Property Assessment Clean Energy (“C-PACE”) Program. The proposed rules establish eligibility criteria for obtaining C-PACE loans for the purpose of retrofitting or renovating properties for energy efficiency
On 21 to 23 October 2020, the Financial Action Task Force (FATF) held its final quarterly plenary of 2020 as a virtual event. The discussions over three days mostly focussed on Strategic Initiatives reacting to the Covid-19 pandemic and progress made on country specific processes. The FATF also provided an update on their
On 22 October 2020, the European Commission launched a public consultation on the review of the Alternative Investment Fund Managers Directive (AIFMD). The public consultation follows the European Commission’s review report sent to the European Parliament and the Council on 10 June 2020. The review report concluded that, while the AIFMD has contributed
On 22 October 2020, the German Presidency of the Council held a meeting of a working party on financial services, agenda of which included discussion on the recently published European Commission proposal for a Regulation on digital operational resilience in financial services (DORA). We provided an overview of the proposed legislation in our earlier blog
Whatever the legal form of a joint venture, the collaboration and joint participation in the JV’s business objectives can present an enhanced corruption risk. This is because in some circumstances, a company entering into a JV could be criminally liable for the corrupt actions of its JV partner, the JV itself, or third parties
Introduction
On 21 October 2020, the UK Government published the Financial Services Bill (the Bill).
The Bill was introduced to the House of Commons and given its First Reading that day. First Reading stage is a formal stage where no debate takes place. MPs will next consider the Bill at Second Reading. The date
We have further updated our popular client briefing note ‘Doing business in the EU’ covering the temporary transitional relief measures EU27 Member States are implementing, if any, for the period after the transition period should the UK/EU not enter into a free trade agreement. For a copy of the updated briefing note please contact Simon