Practical, Experience-Based Insights on Financial Regulatory Developments
Background
In February 2023, the United Kingdom Financial Conduct Authority (“FCA”) published a discussion paper (DP23/1) to encourage an industry-wide dialogue on firms’ sustainability-related governance, incentives, and competence (the “Discussion Paper”).
On 2 April 2025, the FCA published a summary of the feedback received on the Discussion Paper, as well as…
On 11 March 2025, the Financial Conduct Authority (the “FCA”) published a statement clarifying that their rules, including with regards to sustainability, do not prevent investment in or financing of defence companies. The FCA confirmed that it is at the discretion of investors or lenders as to whether they provide capital to defence…
In the evolving landscape of financial services, there have been reports that the Financial Conduct Authority (FCA) has recently classified FNZ, a prominent wealth management platform provider, as a ‘co-manufacturer’ of financial products. This designation carries significant regulatory implications, underscoring the critical role of product governance in ensuring consumer protection and market integrity.
In July 2024, the UK’s Financial Conduct Authority (“FCA”) published its “Quarterly Consultation Paper No. 44” (“Consultation”), which proposed introducing a requirement to provide criminal background checks on owners and controllers at the authorisations gateway.
Background
The FCA currently employs a risk-based approach to conducting criminal background checks, whereby such checks…
An upward trend…
The “retailisation” of private funds has been one of the industry’s most significant trends in recent years, with fund managers seeking sources of capital beyond their usual institutional, professional and sophisticated investor base. “Retail” capital (in particular, private wealth) is already a key source of fundraising for many alternative asset managers but…
Introduction
On 30 July 2024, the United Kingdom Financial Conduct Authority (“FCA”) published a number of updates in relation to its work on complaints against motor finance firms.
In particular, the FCA published an update announcement on its website and a consultation paper (CP24/15) (the “Consultation Paper”), on a potential extension…
On 15 July 2024, the UK’s Payments Systems Regulator (“PSR”) and the Financial Conduct Authority (“FCA”) launched a joint call for information concerning the role and impact of big tech digital wallets (the “Inquiry”). Digital wallets are now used by over half of UK adults, marking a significant shift…
Background
On 11 July 2024, the United Kingdom’s Financial Conduct Authority (“FCA”) published its final rules (PS24/6) for a new, simplified and more competitive UK listing regime (the “Rules”).The FCA’s overall aim is to create a more streamlined, disclosure-based listing regime, to help boost the UK’s growth and competitiveness by encouraging…
Background
On 26 June 2024, the United Kingdom’s Financial Conduct Authority (“FCA”) published the findings of its multi-firm review of how insurance firms are implementing the Consumer Duty. In particular, the FCA was seeking to determine how firms monitor, assess, and test the outcomes customers are receiving, along with actions firms had taken…
Background
On 23 May 2024, Ashley Alder, the Chair of the UK Financial Conduct Authority (“FCA”), delivered a speech which outlined the regulator’s agenda for the asset management sector (the “Speech”). In particular, the Speech covered how regulation relates to the FCA’s new objectives for competitiveness and growth.
Key Points
The…
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