On 12 February 2025, the Prudential Regulation Authority (PRA) issued Policy Statement 2/25: Streamlining firm-specific capital communications (PS2/25).
In PS2/25 the PRA provides feedback on the responses it received to its earlier consultation paper (CP9/24) and sets out its final policy and rules which are intended to streamline firm-specific capital communications
On 11 February 2025, the Treasury Committee published letters to the Financial Conduct Authority (FCA) and Financial Ombudsman Service (FOS) about the circumstances that surrounded the departure of the Chief Ombudsman, Abby Thomas, last week.
The letters were written following a session in which members of the Committee were not satisfied
On 11 February 2025, the Bank of England (BoE) published a speech by its Governor, Andrew Bailey, entitled ‘Are we underestimating changes in financial markets?’.
In the speech, Mr Bailey discusses the scale and significance of changes to financial market activity in recent years and what the impact is on financial stability. He
On 11 February 2025, the Financial Conduct Authority (FCA) published a new webpage, ‘Pension dashboards: how to register with the Money and Pension Service’ (MaPS). The webpage sets out what pension providers need to do in order to register their connection with the pensions dashboard ecosystem provided by MaPS.
On 11 February 2025, the Bank of International Settlements published a speech by Denis Beau, First Deputy Governor of the Bank of France, at the Cercle IA et finance.
In his speech Mr Denis discusses, from a supervisor’s perspective, the opportunities and risks of AI and then the conditions necessary for effective regulation of AI
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
On 10 February 2025, the Bank of England (BoE) published a speech on ‘Financial Market Infrastructure (FMI) regulation in a changing world: our priorities for 2025’, delivered by its executive director for FMI, Sasha Mills.
Priority areas
In the speech, Ms Mills outlines how the BoE plans to use
On 7 February 2025, the Financial Conduct Authority (FCA) amended its webpage on the bond consolidated tape to provide an update on next steps.
In the updated ‘next steps’ section, the FCA confirms that the tender documents for the process to appoint a bond consolidated tape provider (CTP) will be published
On 7 February 2025, the Financial Ombudsman Service (FOS) published a policy statement confirming that it will start charging professional representatives, including claims management companies (CMCs), to refer cases to it.
Background
The Financial Services and Markets Act (FSMA) 2023 gives the FOS the power to make rules
On 7 February 2025, the Financial Conduct Authority (FCA) published a webpage providing its analysis and insights on the financial promotions data collected from 1 January 2024 to 31 December 2024,
The data covers action taken against authorised firms breaching financial promotion rules and referrals and investigations into unregulated activity.
Key messages include: