On 9 January 2025, the Financial Conduct Authority (FCA) published its response to the independent panels’ 2023/24 annual reports.
The FCA has six independent statutory panels which represent the interests of consumers, regulated firms, and markets, and with which it is required to consult on the impact of its work, policies, and
On 10 January 2025, HM Treasury (HMT) issued its response following its November 2023 call for evidence on the exemption which pension funds currently have from the obligation to clear certain derivatives contracts. The government previously extended the exemption to 18 June 2025 and noted that it would conduct a review to determine
On 10 January 2025, the Prudential Regulation Authority (PRA) published the 2024 Annual Report of its Cost Benefit Analysis (CBA) Panel.
The CBA Panel is a statutory panel established to provide advice to the PRA and the Bank of England (BoE) on the preparation of CBAs. Since 1 August
On 10 January 2025, the Financial Conduct Authority (FCA) issued a Dear CEO letter to credit reference agencies, and providers of credit information services setting out its strategy for this portfolio.
The letter gives firms in the portfolio some insights into the FCA’s priority areas for the next two years. This includes embedding
On 10 January 2025, the Financial Conduct Authority, Prudential Regulation Authority and Bank of England jointly published Consultation Paper 25/1 ‘Financial Services Compensation Scheme – Management Expenses Levy Limit 2025/26’ (CP25/1).
In CP25/1 the regulators set out proposals for the Management Expenses Levy Limit (MELL) for the Financial Services Compensation Scheme
On 9 January 2025, the Financial Services and Markets Act 2000 (Collective Investment Schemes) (Amendment) Order 2025 (the Order) was laid before Parliament and published, along with an explanatory memorandum.
The purpose of the Order is to ensure that arrangements for qualifying cryptoasset staking do not amount to a collective investment scheme
On 9 January 2025, the Financial Conduct Authority (FCA) published the latest in its series of research notes on bias in artificial intelligence (AI).
The FCA has been carrying out research in the area of AI bias to help deepen its understanding of AI and its potential impact on financial services
On 8 January 2025, the Financial Markets Standards Board (FMSB) issued in final form its updated Statement of Good Practice – Front office supervision of wholesale traded markets. The Statement of Good Practice updates the FMSB’s 2017 publication on front office supervision and includes new guidance to help firms meet challenges to
On 7 January 2025, the Prudential Regulation Authority (PRA) published Policy Statement PS1/25 – Resolution assessments: Amendments to reporting and disclosure dates.
Background
In CP12/24, published in October 2024, the PRA proposed to amend rules 3.1 and 4.1 of the Resolution Assessment Part so that the timing of future report submissions
To all of our global readers we would like to take this opportunity to wish you all a Merry Christmas and a Happy New Year.
We will resume posting material following the festive period on 7 January 2025 although if there are any significant developments we will endeavour to provide an update.