Regulators and policymakers have left emergency measures behind and returned to their reform agendas. In this piece, Baker McKenzie regulatory experts set out the top ten UK developments for financial institutions and fintechs to watch in 2022 covering: good culture, Consumer Duty, BNPL regulation, crypto regulation, AML regulation, appointed representatives regime, financial promotions gateway, operational resilience, ESG regulation, divergence, Future Regulatory Framework Review.
Financial crime remains at the top of the regulatory agenda across the globe. As responses to the pandemic stabilise, and following some high-profile global incidents, regulators face renewed pressure to manage financial crime more effectively through robust supervision and enforcement. In the October 2021 edition of the City Library’s Compliance Officer Bulletin, our business crime, regulatory and cybersecurity lawyers explore the latest developments in anti-money laundering and financial crime in a series of articles
In 2020, the COVID-19 pandemic swept away regulatory plans and programmes for the year while regulators rushed to stabilise the markets and protect consumers in distress. Regulators across the globe, just like financial institutions and other businesses, scrambled to implement remote working arrangements and keep their employees safe while adjusting their supervisory processes and plans. Regulatory programmes were postponed or reoriented, and supervisors quickly developed regulatory measures to help provide pandemic relief to both firms and their customers.
As the effects of COVID-19 continue to be felt around the world, businesses continue to face significant levels of instability and uncertainty caused by weakened financial markets and disruption to supply chains, workplace operations and business pipelines. Such instability and uncertainty will result in a growth in the number and…
Financial institutions face two categories of emergencies arising out of the coronavirus disease that could impair their functioning. The first is directly financial: a sudden drop in the value of financial assets, or loss of liquidity, whether domestically or elsewhere in the world that could lead to a national or…
In a letter to authorised credit brokers on 13 February, the FCA explain what they considered to be the key risks credit brokers pose to their consumers or markets. Whilst there was nothing particularly surprising in the letter, it acts as a helpful reminder to credit brokers on what the…
As 2020 comes into view, what can we expect to be at the top of regulators’ agendas? Key themes that are new from last year are ESG and an increased focus on operational resilience. Both EU and UK authorities are looking at how buy and sell-side firms should embed ESG…
Despite it being the height of the holiday season, central bankers at the ECB found the time to issue a newsletter on 14 August calling on banks supervised under the Single Supervisory Mechanism (SSM) to step up their Brexit preparations. This seems to have been driven by a perception that…
What are the new requirements and when do they apply? The European Commission has published new regulatory technical standards that apply specifically to credit and financial institutions, including e-money institutions, payment institutions, investment firms, AIFMs and UCITs Mancos. The new standards specify “additional measures” in respect of relevant institutions’ branches…