Financial Institutions Regulation

Recent Articles

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  11/12/2024

  England and Wales

  Less is more: PRA and FCA propose reform to ease bank remuneration rules

  On 26 November 2024, the Prudential Regulation Authority (“PRA”) and Financial Conduct Authority (“FCA”) (together the “Regulators”) published a joint Consultation Paper (PRA CP 16/24, FCA CP 24/23) on reforming the remuneration regime applicable to banks, building societies, and PRA-designated investment firms.  Background and rationaleThe current remuneration framework in the UK for banking sector firms was introduced in the wake of the 2008 global financial crisis through EU legislation. The regime pre-financial crisis was thought to have overly incentivised...

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  02/12/2024

  Poland

  Listing Act i zmiany wchodzące w życie już w pierwszym tygodniu grudnia 2024 r.

  Już 4 grudnia 2024 r. wejdą w życie pierwsze zmiany wprowadzone na podstawie tzw. Listing Act, mające na celu zwiększenie atrakcyjności rynków kapitałowych w UE. Z perspektywy emitentów i potencjalnych emitentów, kluczowe zmiany dotyczą tzw. rozporządzenia prospektowego i rozporządzenia MAR. Poniżej znajduje się podsumowanie najważniejszych zmian wprowadzanych przez Listing Act:Najważniejsze zmiany w rozporządzeniu MAR:Wejście w życieNajważniejsze zmiany w rozporządzeniu...

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  01/11/2024

  United Kingdom

  UK government proposes significant changes to data law through new Data (Use and Access) Bill

  On 23 October 2024, the UK government set out its proposed reforms of UK law relating to the use of and access to data, with the introduction to Parliament of the Data (Use and Access) Bill (the “DUA Bill”).  The DUA Bill is intended by the UK government to enhance the UK’s digital strategy and unlock the use of data, harnessing its capabilities to boost public services and contribute to the UK economy.Many of the changes proposed in the DUA Bill can be traced back to the previous government’s attempts at reform in this area under the Data Protection and Digital Information...

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  28/10/2024

  United Kingdom

  New sanctions enforcer on the block: OTSI opens a new chapter for the UK

  On 10 October 2024, the UK government implemented major reforms to its sanctions enforcement regime through the Trade, Aircraft and Shipping Sanctions (Civil Enforcement) Regulations 2024 (“TASS”). These regulations grant the Office of Trade Sanctions Implementation (“OTSI”), a division of the Department for Business and Trade, significant new powers to enforce UK trade sanctions. OTSI can now investigate most trade sanctions breaches, demand compliance information, impose fines of up to £1 million or 50% of the breach's value (whichever is greater), and publicly disclose...

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  09/10/2024

  United Kingdom

  Court of Appeal Decision in Financial Conduct Authority v BlueCrest Capital Management: Implications for Regulated Firms

  IntroductionOn 2 October 2024, the Court of Appeal delivered a significant judgment in the case of Financial Conduct Authority v BlueCrest Capital Management (UK) LLP ([2024] EWCA Civ 1125). This decision addresses: (a) the scope of the Financial Conduct Authority's (FCA) powers under the Financial Services and Markets Act 2000 (FSMA) to impose redress requirements on an individual regulated firm; and (b) on the scope of the jurisdiction of the Upper Tribunal. The judgment has far-reaching implications for the regulatory landscape and the operational conduct of firms within the financial services...

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  09/09/2024

  United Kingdom

  UK Tax Disputes Digest (Summer 2024)

  Welcome to the Summer 2024 edition of our UK Tax Disputes Digest: a high-level summary of key developments in contentious tax over the last few months for heads of tax, finance directors, general counsel and other in-house professionals.As with previous editions, we have seen a continued increase in HMRC activity across various areas. Both individual and corporate taxpayers would be well-advised to check their tax position as soon as possible to prepare for any potential HMRC investigation into their tax affairs.In this edition, we look at just a few of these developments, including the latest...

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