On 28 May 2024, the Financial Conduct Authority (FCA) published a new webpage setting out observations and insights on the preparations firms have made towards complying with PS21/3: Building operational resilience. The FCA is asking firms to ensure they are ready to comply with the rules on operational resilience by 31 March
On 28 May 2024, HM Treasury (HMT) confirmed which firms have been designated under Part 8B of the Financial Services and Markets Act 2000 for the provision of cash access services.
The firms that have been designated as relevant current account providers are Barclays Bank UK plc, the NatWest Group, Lloyds Banking Group
On 27 May 2024, the European Banking Authority (EBA) published its final guidelines on the simple, transparent and standardised (STS) criteria for on-balance sheet securitisations under Article 26a(2) of the Securitisation Regulation.
The main objective of the guidelines is to provide a single point of consistent interpretation of the STS criteria and ensure a common
On 24 May 2024, the Building Societies Act 1986 (Amendment) Bill 2023-24 received Royal Assent.
The Bill was introduced in December 2023 with the aim of helping building societies to access more funding from sources other than customer savings. The draft explanatory notes to the Bill explained that it was intended to put building
On 22 May 2024, the Securitisation (Amendment) Regulations 2024 were made.
The explanatory memorandum published alongside the Regulations explains that they make amendments to the UK’s securitisation regime, as part of HM Treasury’s programme to deliver a Smarter Regulatory Framework for financial services. The Securitisation Regulations 2024 establish the new legislative framework under which financial
Following on from our previous blog in relation to FCA CP24/2 (Our Enforcement Guide and publicising enforcement investigations – a new approach), the House of Lords Financial Services Regulation Committee has closed its call for evidence following the prorogation of Parliament on 24 May 2024. When committees are reappointed in the new Parliament following
On 24 May 2024, the Financial Services Compensation Scheme (FSCS) published its Outlook Report for May 2024.
The Outlook Report provides an update on compensation figures and the levy for 2024/25, following the ‘first look’ that was published in November 2023.
The Outlook Report highlights that the annual levy for 2024/25
In our latest Global Regulation Tomorrow Plus podcast we focus on the FCA’s finalised guidance on the new anti-greenwashing rule. We consider the scope of the new rule, the key differences between the finalised guidance and that consulted on, some “dos and don’ts” for firms and then finally a few words on a new anti-greenwashing
On 24 May 2024, the Financial Conduct Authority (FCA) published Handbook Notice No 119, which describes the changes made to the FCA Handbook by the Executive Regulation and Policy Committee and the FCA Board under their legislative and other statutory powers.
Securitisation (Smarter Regulatory Framework and Consequential Amendments) Instrument 2024
In summary