On 29 April 2026, the Bank of England published an updated version of its Statement of Policy concerning its approach to cost benefit analysis when making rules for central counterparties and central securities depositories. The update takes into account feedback from the Cost Benefit Analysis (CBA) Panel. The Prudential Regulation Authority has also
On 29 April 2026, the Financial Conduct Authority (FCA) published Market Watch 85.
In this edition of Market Watch the FCA discusses how the Economic Crime and Corporate Transparency Act 2023 can help firms share customer information to fight economic crime.
On 28 April 2026, the Bank of England published a speech by Charlotte Gerken (Executive Director, UK Deposit Takers Supervision) entitled Maintaining momentum: progress in mutual supervision.
In this speech Charlotte Gerken discusses the Prudential Regulation Authority’s (PRA) regulatory and supervisory changes since 2025 and outlines next steps following the PRA and
On 29 April 2026, the Financial Conduct Authority (FCA) published Consultation Paper 26/15: Reviewing the financial promotions rules for consumer credit (CP26/15).
Background
Before the Consumer Duty’s (Duty) introduction in July 2023, the FCA were frequently urged to review and update the financial promotion rules in chapter 3 of
Last month the Prudential Regulation Authority (PRA) published a Final Notice imposing a financial penalty of £10,625,000 on U K Insurance Limited (UKI) in connection with a “double-counting” error which led to a miscalculation of UKI’s Solvency II balance sheet during 2023 and 2024 and consequently an overstating of its solvency
The changes to SMCR published by the PRA and the FCA on 21 April have been welcomed by firms across sectors.
Many of the changes in this Phase 1 of reforms to SMCR took effect on 24 April, and – in very broad terms – afford firms more flexibility in some areas, relax some of
On 28 April 2026, the European Banking Authority (EBA) published a draft Implementing Regulation which amends Implementing Regulation (EU) 2023/1718 with regard to closely correlated currencies in accordance with the Capital Requirements Regulation (CRR).
Article 354 of the CRR mandates the EBA to develop implementing technical standards (ITS) specifying
On 24 March 2026, the Financial Conduct Authority issued a Final Notice to Dinosaur Merchant Bank Limited, imposing a financial penalty of £338,000 for failing to detect and report suspicious orders and transactions in its contract for difference business.
For the key takeaways from this case, as well as the key findings, please see our