On 18 November 2024, the Ministry of Foreign Affairs (Ministerie van Buitenlandse Zaken) published its consultation on the draft bill of the Corporate International Responsibility Act (Wet internationaal verantwoord ondernemen) (the Act). The Act will implement the EU Corporate Sustainability Due Diligence Directive (Directive 2024/1670, the CSDDD), into Dutch
On 25 November 2024, HM Treasury published the text of a speech by the Economic Secretary to the Treasury, Tulip Siddiq MP, outlining the Government’s approach to tokenisation and regulation. In the speech, which was delivered at the Tokenisation Summit on 21 November 2024, Ms Siddiq discussed the initiatives the Government is taking forward
On 21 November 2024, the Financial Ombudsman Service (FOS) published a feedback statement on responses to its consultation on charging professional representatives.
The FOS asked 8 questions, as part of its 2024/25 Plans and Budget Consultation Paper, about implementing a charging regime for professional representatives in the UK to help inform next
On 21 November 2024, the Consumer Composite Investments (Designated Activities) Regulations 2024 were made and published on legislation.gov.uk, along with an explanatory memorandum.
The Regulations replace assimilated law in relation to the UK Packaged Retail and Insurance-based Investment Products (PRIIPs) Regulation, establishing a new legislative framework for the regulation of Consumer Composite Investments, formerly
On 21 November 2024, the Bank of England (BoE) and Financial Conduct Authority (FCA) published a report setting out the results of their third survey of artificial intelligence (AI) and machine learning in UK financial services.
Background
In the report, the BoE and FCA highlight the increasing use of
On 20 November 2024, the Basel Committee on Banking Supervision issued a press release which stated that it members unanimously reaffirmed their expectation of implementing all aspects of the Basel III framework in full, consistently and as soon as possible. The press release added that the Basel Committee would be issuing its guidelines for counterparty
On 21 November 2024, the International Organization of Securities Commissions (IOSCO) issued a consultation report on pre-hedging.
Definition
For the purposes of the consultation report, IOSCO proposes to define pre-hedging as “trading undertaken by a dealer, in compliance with applicable laws and rules, including those governing frontrunning, trading on material non-public information/insider dealing
On 21 November 2024, the Financial Conduct Authority (FCA) launched a consultation, CP24/22, on its proposal to make further temporary changes to how firms handle motor finance complaints where they involve a commission arrangement.
Background
In January 2024, the FCA introduced new rules for handling motor finance complaints where there was a discretionary
Join our panel of lawyers from Asia, Dubai, Europe, London and the US who will explore the key regulatory developments, issues and considerations and examine some real-world case studies.