On 5 June 2024, the European Supervisory Authorities entered into a multilateral Memorandum of Understanding (MoU) with the European Union Agency for Cybersecurity.
The MoU sets out the framework for cooperation and exchange of information on tasks of mutual interest, including policy implementation, incident reporting, and oversight of critical Information Communication Technologies third-party
On 24 April 2024, the UK Takeover Panel (Panel) published consultation paper PCP 2024/1: Companies to which the Takeover Code applies which proposes a refocusing and significant narrowing of the types of companies subject to the UK Takeover Code (Code). The consultation closes on 31 July and the Panel has indicated
In our latest briefing we set out some of the key upcoming dates that we are aware of so far in the financial services space for 2024, together with links to our relevant content for each development. We will publish an updated version of this horizon scanner next quarter.
For further detail on some of
On 4 April 2024, the Financial Ombudsman Service (FOS) published its 2024 and 2025 strategic plans and budget. The final plans and budget come as the FOS has announced its expectation of higher demand in the year ahead, with an estimated caseload of 210,000 complaints. The higher caseload comes as the FOS has committed to
On 28 March 2024, the Bank of England (BoE) and Financial Conduct Authority (FCA) published a joint response to phase two industry recommendations and future strategy.
The BoE and the FCA are working together, and with industry, to improve the data collection process for both regulators and firms. In February 2021
On 22 March 2024, the Financial Conduct Authority (FCA) published a Statement of Policy on appointments to its statutory panels.
The Statement of Policy outlines the intended approach for appointing members to these panels in accordance with section 1RA of the Financial Services and Markets Act 2000 (the Act). HM Treasury (
On 7 March 2024, the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published its third update on the European Digital Operational Resilience Act (Regulation (EU) 2022/2554, DORA). This update focuses on the requirements concerning the ICT risk management framework. The update is available via this link.
Last week the Labour Party published its Financial Services Review based on six policy priorities – Financing Growth: Labour’s Plan for Financial Services.
The report is the first stage in outlining Labour’s vision for the future of Britain’s financial services and its agenda will continue to develop over time.
Key priorities include:
On 1 February 2024, the European Systemic Risk Board (ESRB) published a report on vulnerability in the residential real estate (RRE) sectors of the EEA countries. In recent years, the ESRB has regularly assessed residential real estate vulnerabilities in the European Economic Area (EEA) countries and the extent to which they are addressed
On 30 January 2024, the European Parliament issued a press release stating that the Economic and Monetary Affairs Committee had voted to approve the text of the proposed Regulation amending Regulations (EU) No 1092/2010, (EU) No 1093/2010, (EU) No 1094/2010, (EU) No 1095/2010 and (EU) 2021/523 as regards certain reporting requirements in the fields of