On 30 April 2025, UK Finance published the third version of its Financial Abuse Code (the Code).
The Code was first launched in 2018 with the aim of increasing awareness and understanding amongst firms and their staff of financial abuse and how to identify the signs. It was revised in 2021 and has now
On 30 April 2025, the Prudential Regulation Authority (PRA) published consultation paper CP10/25 – Enhancing banks’ and insurers’ approaches to managing climate-related risks – Update to SS3/19.
Background
The PRA explains that since it first set expectations for firms on climate change in 2019, firms have begun to build their climate-related risk
On 30 April 2025, the Bank of England (BoE) published the Technical Standards (Simplified Obligations) Instrument 2025, which revokes the retained EU law Technical Standard 2019/348 on Simplified Obligations (SO UKTS).
The BoE published a consultation paper in December 2024 setting out its proposal to revoke the SO UKTS –
On 30 April 2025, the House of Commons Treasury Committee published a report on the acceptance of cash.
Background
The acceptance of physical currency in the UK is not currently specified in legislation, meaning that UK businesses and organisations can choose which payment methods they accept without a legal duty to accommodate customers’ varying
On 30 April 2025, the Financial Conduct Authority (FCA) updated its webpage for consultation paper CP24/8 on extending the Sustainability Disclosure Requirements (SDR) and investment labels regime to portfolio management.
Background
The FCA has previously published a consultation paper, CP22/20, and subsequent policy statement PS23/16 which introduced a package of
On 29 April 2025, the Financial Conduct Authority (FCA) published a speech on its agenda to combat market abuse, which was delivered by its joint executive director of enforcement and market oversight, Therese Chambers, at the Market Abuse and Market Manipulation Summit.
Ms Chambers flags that the FCA’s new 5-year strategy for
On 30 April 2025, the Basel Committee on Banking Supervision (Basel Committee) revised its Principles for the Management of Credit Risk (Credit Risk Principles).
The Credit Risk Principles provide guidelines for banking supervisory authorities to evaluate banks’ credit risk management processes in four key areas: (i) establishing a suitable credit risk
On 30 April 2025, the European Banking Authority (EBA) issued a Consultation Paper containing a draft Commission Delegated Regulation which amends Commission Delegated Regulation (EU) 2023/206 of 5 October 2022 supplementing the Capital Requirements Regulation (CRR) with regard to regulatory technical standards (RTS) specifying the types of factors to
On 28 April 2025, the European Parliament’s Committee on Economic and Monetary Affairs published a draft report on safeguarding and promoting financial stability amid economic uncertainties. Among other things the Rapporteur identifies several macro-financial risks and stresses the need for robust crisis preparedness mechanisms to safeguard the EU’s financial system. The rapporteur also highlights the
On 29 April 2025, the European Commission adopted a Delegated Regulation supplementing the Regulation on markets in crypto-assets (MiCA) with regard to regulatory technical standards (RTS) specifying the arrangements, systems and procedures to prevent, detect and report market abuse, the templates to be used for reporting suspected market abuse, and the coordination procedures