February 2022

Executive Summary

The UK Supreme Court recently confirmed in Bloomberg LP (Appellant) v ZXC (Respondent) [2022] UKSC 5 that in the UK a person under criminal investigation has a reasonable expectation of privacy prior to being charged.


The claimant, an individual anonymised as ZXC, had been under criminal investigation by UK law enforcement.  Bloomberg

On 25 February 2022, the FCA published Primary Market Bulletin No. 38 stating that it has added to its knowledge base a new technical note concerning Task Force on Climate-Related Financial Disclosures (TCFD) aligned climate-related disclosure requirements for listed companies. The technical note concerns:

  • Listing Rule (LR) 9.8.6R(8) and LR 14.3.27R which require premium listed

On 25 February 2022, the European Banking Authority (EBA) published a report concerning the European Systemic Risk Board’s (ESRB) recommendation for the introduction of an EU legal framework to uniquely identify legal entities engaged in financial transactions. The EBA’s report provides information on the substance, such as the legal form of the measure and the

Earlier this week we published a blog reporting on the FCA’s statement regarding the new financial sanctions that the UK has imposed on Russia. As the FCA identified in its statement, the imposition of sanctions creates a regulatory risk for firms and their staff (particularly senior managers) in the sense that, where the regulator identifies

On 24 February 2022, the FCA published a new webpage setting out examples of good practice and areas for improvement in relation to branch and ATM closures or conversions. The examples, although not exhaustive, set out the good practice that the FCA has seen since issuing guidance in September 2020 outlining its expectations of how

On 24 February 2022, the European Banking Authority (EBA) issued a final report containing guidelines on the limited network exclusion under the revised Payment Services Directive (PSD2).

Following the publication of the PSD2 in November 2015, the EBA and the European Commission received a number of queries on the application of the ‘exclusion’ under Article

On 24 February 2022, the Financial Ombudsman Service (FOS) published its latest diversity, inclusion and wellbeing report.

A periodic review, undertaken by independent advisers and published in December 2021, recognised the FOS’ good work in this area. It found that:

  • The organisation ‘continues to be open and inclusive to all customers.’
  • ‘The values of