On 6 February 2025 the House of Lords Financial Services Regulation Committee published its report entitled ‘Naming and shaming: how not to regulate’ on the FCA’s November 2024 CP24/2, Part 2 regarding the controversial ‘name and shame’ proposals (which we summarised here). Responses to the FCA’s consultation are due next Monday 17th February
Notice in a nutshell: CFD provider, Infiniox Capital Limited, fined for missing transaction reports
The FCA has published a Final Notice imposing a fine of £99,200 on a CFD provider for failing to make transaction reports over a 6 month period. We summarise below the key facts and potential impact for other firms who, in light of FCA expectations, may wish to consider proactively reviewing their own reporting and
Horizon scanning: UK regulatory topics to look out for in 2025
In this article we look at key regulatory topics for 2025 that will have a significant impact on institutions operating in the UK financial services space. We have not attempted to list every single reform expected this year but rather pick out the top reforms in both the wholesale and retail space, as well as
Merry Christmas and a Happy New Year to our readers
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.
Failure to prevent fraud: What do financial services firms need to be thinking about now?
In October, we published an article setting out five key steps for regulated financial services firms to be thinking about in relation to the new failure to prevent fraud (FTPF) offence. We also have a number of more general publications on this topic which can be found on our knowledge hub.
The
Inside information: It could be sooner than you think
Last month the FCA published Primary Market Bulletin 52 (PMB 52) discussing a number of potential issues, and practical steps for issuers to consider, in relation to the identification, handling and dissemination of inside information in accordance with the UK Market Abuse Regulation.
In our latest briefing we summarise the areas covered in
Failure to Prevent Fraud – Risk Assessments
Introduction
On 6 November 2024 the UK government published its long-anticipated guidance on the failure to prevent fraud offence (the Guidance).
The new offence will come into force in September 2025. It will apply both to UK and to non-UK organisations, where there is some nexus to the UK. The only defence for an
Name and Shame Round Two: FCA publishes consultation on redrafted proposals
On 28 November 2024 the FCA published CP24/2, Part 2 in relation to its controversial ‘name and shame’ proposals, having trailed this in oral evidence before the House of Lords Financial Services Regulation Committee earlier this month. In the paper, the CP24/2 proposals have been re-drafted with a view to addressing the concerns raised about
Motor finance commission and beyond: An action plan for your business
1. Introduction
Three claims by individuals against motor finance lenders have recently been upheld by the Court of Appeal which decided that they should receive refunds of commission payments that the lenders had made to the car dealers who were acting as intermediaries/ brokers in respect of the finance arrangements (interest was also awarded to
Global Regulation Tomorrow Plus: FCA survey results on non-financial misconduct
In February this year the FCA sent a survey to over 1,000 regulated wholesale financial services firms asking a series of questions about incidents of non-financial misconduct recorded by the firms in the years 2021, 2022 and 2023. In this latest Global Regulation Tomorrow Plus episode, Katie Stephen, Hannah Meakin, Simon Lovegrove and Catherine Pluck