Tracks financial services regulatory developments and provides insight and commentary
In recent years, diversity and inclusion (D&I) in the financial services sector has become a focus for regulators around the world. Individual regulators, however, have taken different approaches to D&I to reflect the local socio-economic environment.
Below, we provide a high-level summary of the position across a number of key jurisdictions updating our table published…
In the latest instalment of our Regulation Around the World series, Financial Services partners in 15 jurisdictions cover recent developments concerning anti-money laundering.
Our global updater is accompanied by further analysis and insights in our Regulation Around the World podcast which is available now to stream and download. The podcast features speakers from the…
In the summer of 2023, the European Commission issued a payment services legislative package which amends the existing Payment Services Directive 2 (PSD2). A new Directive, PSD3, was proposed together with a Regulation, the Payment Services Regulation (PSR). In addition, a further Regulation was proposed, a Regulation on a Framework for…
The Department of Justice (DOJ) announced on September 17, 2024 that it has withdrawn its 1995 Bank Merger Guidelines, effectively overhauling how it reviews M&A transactions involving banks and bank holding companies. According to the DOJ, the 2023 Merger Guidelines are its sole authoritative statement across all industries that identify the factors and…
Singapore has passed legislative amendments to enhance its anti-money laundering and countering the financing of terrorism (AML/CFT) regime. Such changes will, amongst other things, enable more effective prosecution of money laundering offences, enhance the enforcement and supervisory efforts of AML/CFT regulators, and align the city-state’s AML/CFT framework with international standards.
Read our new…
On August 28, 2024, the Financial Crimes Enforcement Network (FinCEN) issued a final rule that will impose new anti-money laundering and countering terrorism financing (AML/CFT) program requirements on registered investment advisers and exempt reporting advisers (collectively, Covered IAs) by, among other things, including Covered IAs within the definition of “financial…
On 20 August 2024, the Financial Services Regulatory Authority (the FSRA), the financial services regulator in the Abu Dhabi Global Market, published Consultation Paper No. 7 of 2024 (CP7) on a proposed regulatory framework for the issuance of stablecoins that are backed by a fiat currency, or what CP7 refers to as…
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.
In Episode 3 of our podcast series ‘Let’s talk asset management’ Frank Herring and Simon Lovegrove discuss the EU Retail Investment Strategy.
Listen to the episode here.
On July 25, 2024, in the case of Federation of Americans for Consumer Choice, Inc., et al. v. United States Department of Labor, et al., (“Federation of Americans”) the United States District Court for the Eastern District of Texas issued an order staying the effective date of the DOL’s final fiduciary rule (and related amendments…
In PS24/9 (Payment optionality for investment research) the FCA sets out final rules for a new option to pay for investment research and sets out its feedback to its earlier consultation in CP24/7. To remind everyone, the new option will exist alongside those already available, i.e., payments for research from a firm’s own resources and…
Last week, two major stablecoin announcements were made to support Hong Kong’s efforts in facilitating the responsible development of its virtual asset ecosystem.[1] On 17 July 2024, the Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) jointly published consultation conclusions on the proposed regulatory…
On 9 July 2025, the European Banking Authority (EBA) published a consultation paper on the revision of the guidelines on product oversight and governance arrangements for retail banking products to take into account products with ESG features and greenwashing risks.
Background
In 2015, the EBA issued Product Oversight and Governance Guidelines (POG…
On 8 July 2025, the European Commission (Commission) adopted a Delegated Regulation that will insert a review clause into the Delegated Regulation that it adopted on 10 June 2025 which amends the list of high-risk countries laid down in Commission Delegated Regulation (EU) 2016/1675.
Background
On 14 July 2016, the Commission adopted Delegated…
In this podcast Matthew Gregory, Haney Saadah and Janna Garcia discuss the Financial Conduct Authority’s recent multi-firm review of risk management and wind-down planning
at e-money and payments firms alongside the regulator’s Dear CEO letter from earlier this year which outlined the FCA’s priorities for payments firms.
Listen to this episode here.
On 8 July 2025, the Prudential Regulation Authority and the Financial Conduct Authority jointly released a policy statement (PS11/25) providing feedback to the proposed amendments to the PRA Rulebook and FCA Guidance concerning the de minimis threshold for the loan to income (LTI) flow limit in mortgage lending, as consulted on…
In the second podcast of our new mini-series covering UK cryptoasset regulation Jonahan Herbst, Hannah Meakin and Matthew Gregory discuss the key features of qualifying stablecoins.
Listen to the episode here.
On 8 July 2025, the Financial Conduct Authority (FCA) published feedback to the Interim Working Group’s (IWG) Final Report which set out recommendations for the design and operations of the new governance framework of the credit information industry, the Credit Reporting Governance Body – CRGB.
In its feedback, the FCA supports…
On 8 July 2025, the Australian Prudential Regulation Authority (APRA) released a consultation paper on implementing APRA’s decision to phase out Additional Tier 1 (AT1) capital instruments.
Background
APRA is seeking feedback on proposed amendments that give effect to the phase out of AT1 capital instruments and replace them with predominantly…
Background
On 2 July 2025, the Australian Prudential Regulation Authority (APRA) announced that it had received the final independent expert report on BUSS (Queensland) Pty Ltd, the trustee for The Building Unions Superannuation Scheme (Queensland) (BUSSQ). BUSSQ has over the past four years experienced some disruption with director resignations in 2022…
On 7 July 2025, the Australian Securities and Investments Commission (ASIC) announced that it was seeking feedback on proposals to remake five legislative instruments relating to financial reporting relief.
Background
Under the Legislation Act 2003, all legislative instruments are automatically repealed, or ‘sunset’, after 10 years, unless ASIC takes action to preserve them.…
On 7 July 2025, the Financial Conduct Authority (FCA) published Finalised Guidance 25/3: The treatment of politically exposed persons for anti-money laundering purposes (FG25/3).
Background
The FCA first produced guidance in July 2017 (FG17/6) for firms to apply a proportionate approach when dealing with politically exposed persons (PEPs).
On…
