To all of our global readers we would like to take this opportunity to wish you all a Merry Christmas and a Happy New Year.
We will resume posting material following the festive period on 7 January 2025 although if there are any significant developments we will endeavour to provide an update.
On 20 December 2024, the Financial Conduct Authority (FCA) issued Policy Statement 24/19 ‘Enhancing the National Storage Mechanism’ (PS24/19).
In PS24/19 the FCA summarises the feedback it received to its earlier proposals to change the NSM’s data requirements for ‘regulated information’ and sets out final rules. It also sets out longer-term
On 20 December 2024, the Financial Conduct Authority (FCA) published Handbook Notice 125.
This Handbook Notice describes the changes to the FCA Handbook and other material made by the FCA Board and the Executive Regulation and Policy Committee of the FCA under their legislative and other statutory powers on 9 December 2024
Introduction
On December 2, 2024, the United Kingdom (UK) reached a number of further environmental, social and governance (ESG) milestones.
Almost a year ago, the Financial Conduct Authority (FCA) published its final rules and guidance on Sustainability Disclosure Requirements (SDR) and investment labels. The new rules and
On 19 December 2024, the Bank of England (BoE) published certain papers regarding central counterparty (CCP) resolution.
Power to direct a CCP to address impediments to resolvability
Earlier this year the BoE issued a consultation paper describing its proposed approach to exercising its power to direct a CCP to address impediments
On 13 December 2024, the Bank of England published a web page concerning the latest annual CBEST thematic which is intended to inform the financial sector on the findings and lessons learned from the CBEST programme, which assesses the cyber resilience of key financial institutions through security testing performed in ‘live’ corporate environments.
CBEST is
On 19 December 2024, the Financial Markets Standards Board (FMSB) published as final its Standard for Client Onboarding: Documentation and Processes and Annexes.
The Standard has been drafted to allow onboarding firms to continue to fully apply the UK’s Risk Based Approach to know-your-customer and provides more granular, documentary guidance for the practical implementation
On 19 December 2024, the European Securities and Markets Authority (ESMA) issued a statement regarding the transitional regime for crypto asset service providers (CASPs) under Article 143(3) of the Regulation in markets in crypto assets (MiCAR).
Article 143(3) of the MiCAR states that “Crypto-asset service providers that provided their