Tracks financial services regulatory developments and provides insight and commentary
On 23 July 2025, the Australian Securities and Investments Commission (ASIC) published a speech by its chair, Joe Longo. The speech was delivered at the Australian Banking Association (ABA) Banking Conference in Sydney and encourages responsible use of artificial intelligence (AI) to improve customer outcomes in banking.
A new…
On 23 July 2025, the Australian Prudential Regulation Authority (APRA) announced that it had decided to keep its macroprudential policy settings unchanged to maintain financial stability, citing sound lending standards and low non-performing loans, while monitoring risks from high household debt and elevated risk of economic shocks caused by an uncertain geopolitical environment.…
On 24 July 2025, the European Securities and Markets Authority (ESMA) issued a press release concerning preparations for the single volume cap in October.
Following changes to the Markets in Financial Instruments Regulation the EU’s volume cap system will be updated in October moving from a double volume cap mechanism (DVCM)…
On 21 July 2025, the Data (Use and Access) Act 2025 (Commencement No. 1) Regulations 2025 were made.
These Regulations are the first Commencement Regulations under the Data (Use and Access) Act 2025. Among other things these Regulations bring into force on 20 August 2025 Part 1 of the Act which relates to access to…
The recent publication of the Upper Tribunal’s decision that the former CEO and CFO of Metro Bank were knowingly concerned in a breach of the Listing Rules by the bank provides a number of takeaways for listed companies and directors. A summary of these is set out below but for more detail on the decision…
On 21 July 2025, the Australian Securities and Investments Commission (ASIC) filed proceedings in the Supreme Court of New South Wales alleging that between 20 April 2021 to 11 May 2023, Fortnum Private Wealth Limited (Fortnum) was not meeting its obligations as an Australian financial services licensee (AFS Licensee)…
On 23 July 2025, the Financial Markets Standards Board (FMSB) published a draft of a Statement of Good Practice (SoGP) on unauthorised trading frameworks in transparency.
Background
The FMSB was established in 2015 in accordance with the recommendations of the UK Fair and Effective Markets Review with a mandate to…
On 23 July 2025, the European Banking Authority (EBA) published a report on the exemption of third country undertakings from the requirement to set-up a branch for the provision of banking services to EU financial sector entities.
Background
Article 21c of the Capital Requirements Directive VI (CRD VI) regulates when the…
On 23 July 2025, the Financial Conduct Authority (FCA) published Market Watch 82.
Market Watch is the FCA’s newsletter on market conduct and transaction reporting issues. In Market Watch 82 the FCA describes recent observations from supervising the UK MiFID transaction reporting regime. These cover remedial timelines, back reporting, and transaction reporting…
On 23 July 2025, the Financial Conduct Authority issued a new webpage stating that it is inviting UK and Swiss firms to submit interest in providing cross-border services as part of the Berne Financial Services Agreement (BFSA). Firms can express interest in the BFSA and find out more on the FCA’s new BFSA
