On 28 March 2024, the Financial Action Task Force (FATF) published a table setting out the status of the implementation of Recommendation 15 by FATF members and other jurisdictions with the most materially important virtual asset service provider activity. The table follows a stocktake of current levels of implementation across the global network.
On 28 March 2024, there was published the Accelerated Settlement Taskforce’s report. The Taskforce was established as part of the Edinburgh Reforms and at its broadest its Terms of Reference ask what the case is for the UK moving to an accelerated settlement cycle such as T+1 and over the longer term to T+0
On 28 March 2024, the Bank of England (BoE) published a Consultation Paper (CP) on proposed changes to statements of policy and procedure following the Financial Services and Markets Act 2023 (FSMA 2023).
FSMA 2023 introduced several important updates to the UK’s regulatory framework for financial services and certain
On 28 March 2024, the Bank of England (BoE) and Financial Conduct Authority (FCA) published a joint response to phase two industry recommendations and future strategy.
The BoE and the FCA are working together, and with industry, to improve the data collection process for both regulators and firms. In February 2021
On 28 March 2024, the Bank of England (BoE) published a statement following the latest review of the joint-authority Memorandum of Understanding (MoU) between itself and the FCA, PRA and the Payment Systems Regulator. The statement provides that overall the Authorities consider that co-operation between themselves is working well. The Authorities
On 27 March 2024, the FCA published a Consultation Paper, CP24/4, setting out proposed guidance and changes to the regulatory framework for pensions dashboard service firms.
Background
Pensions dashboards will be digital interfaces which allow consumers to find their pensions and view basic information about them in one secure place. The Government has created the
On 27 March 2024, the Bank of England (BoE) published ‘Financial Stability in Focus: The FPC’s macroprudential approach to operational resilience’. The Financial Stability in Focus publication sets out the Financial Policy Committee’s (FPC) view on specific topics related to financial stability, and this edition focuses on the FPC’s macroprudential approach
On 27 March 2024, the Financial Conduct Authority (FCA) updated its webpage on fund tokenisation to add information on the Technology Working Group’s phase 2 report, published on 26 March 2024.
The FCA and HM Treasury are observers on the industry-led Group, which is considering the implementation of fund tokenisation in the UK.
On 27 March 2024, the European Securities and Markets Authority (ESMA) published a statement on deprioritising supervisory actions linked to the clearing obligation for third-country pension scheme arrangements (TC PSA), pending the finalisation of the review of the European Market Infrastructure Regulation (EMIR). The Council of the EU and
On 27 March 2024, the European Securities and Markets Authority (ESMA) published a statement including practical guidance supporting the transition and consistent application of MiFID II and MiFIR in light of the changes introduced to them by Regulation 2024/791 (MiFIR review) and Directive 2024/790 (MiFID II review).
The statement complements the draft interpretative