On 4 September 2024, the Payment Systems Regulator (PSR) published a consultation paper, CP24/11, on Faster Payments APP scams: Changing the maximum level of reimbursement.
In CP24/11, the PSR is proposing to change the maximum level of reimbursement for the Faster Payments authorised push payment (APP) scams reimbursement requirement. The
On 4 September 2024, the Financial Conduct Authority (FCA) launched a consultation on proposed guidance for UK trade repositories (TRs) registered under Article 55 of the UK European Market Infrastructure Regulation (UK EMIR), ahead of the implementation of the new UK EMIR reporting requirements that apply from 30 September
On 4 September 2024, the Financial Conduct Authority (FCA) published a report setting out its findings from follow-up work on payment account access and closures. The report also sets out the FCA’s expectations of firms and proposed next steps.
The report follows on from the FCA’s September 2023 report on UK Payment Accounts:
On 2 September 2024, the Financial Services and Markets Act 2023 (Commencement No. 7) Regulations 2024 were made and published on legislation.gov.uk.
These Regulations are the seventh commencement Regulations made under the Financial Services and Markets Act 2023 (FSMA 2023).
Section 1 of FSMA 2023 revokes retained EU law which is referred to
On 29 August 2024, the Bank of England announced that the Prudential Regulation Authority (PRA) would publish its second and last set of near-final Basel 3.1 rules on 12 September 2024. The PRA will also publish a consultation paper covering the capital-related aspects of its Strong and Simple regime for smaller firms on
On 22 August 2024, the Financial Conduct Authority (FCA) updated its webpage on the Overseas Funds Regime (OFR).
The updated webpage confirms that the OFR gateway will be opened to new schemes (not currently in the Temporary Marketing Permissions Regime (TMPR)) on 30 September 2024, while landing slots for
On 19 August 2024, the Financial Conduct Authority (FCA) updated its webpage on the sustainability disclosure requirements (SDR) and investment labelling regime, to include a new section on downloadable labels.
The new section is intended for distributors who are subject to the new requirements in ESG 4.1.16R to 4.1.19R, which were introduced into
In our latest Global Regulation Tomorrow Plus podcast, Jonathan Herbst, Hannah Meakin and Anita Edwards discuss PRA Consultation Paper 11/24, which sets out proposals updating the regulator’s approach to international banks.
Listen to the episode here.
In Episode 4 of our podcast series ‘Let’s talk asset management’ Jonathan Herbst, Hannah Meakin and Anita Edwards discuss the UK Financial Conduct Authority’s final rules for a new option to pay for investment research.
Listen to the episode here.
On 8 August 2024, the Financial Conduct Authority (FCA) published Consultation Paper CP24/16: The Value for Money Framework. In CP24/16, the FCA is consulting on detailed rules and guidance for a new value for money (VFM) framework for savers invested in default arrangements of workplace defined contribution (DC)