Expert Analysis

• EU Banking Watchdog Regulations Herald New AML Era

  

  The European Banking Authority’s forthcoming anti-money laundering package will set a framework for compliance across the European Union by redefining the rules of engagement between financial institutions and supervisors, setting a new standard for transparency and accountability, say lawyers at A&O Shearman.

• What To Expect As UK, US Gov'ts Develop Stablecoin Policies

  

  While the U.K. and U.S. governments’ policies both suggest that fiat-backed stablecoins can improve efficiency and safety in payments systems, a perception that crypto-assets remain high risk means consumers are unlikely to use them in significant volume anytime soon, say lawyers at Cadwalader.

• What Insurers Can Do To Prepare For PRA 'Solvent Exit' Rules

  

  With less than a year until the Prudential Regulation Authority's new solvent exit rules for insurers come into force, it is critical that firms prepare to meet the imminent deadline by outlining an execution plan and establishing clear governance arrangements, say lawyers at Holman Fenwick.

• How Regulators Want Online Platforms To Fight Finance Fraud

  

  Recent statements from the International Organization of Securities Commissions and the European Securities and Markets Authority make clear that online platform providers are expected to adopt proactive measures to prevent the promotion of unauthorized financial services and related misconduct, say lawyers at Taylor Wessing.

• FCA Notes Industry Criticism But Keeps Transparency Focus

  

  The Financial Conduct Authority’s recently updated enforcement guide finally gives up the "naming and shaming" public interest test, demonstrating that the regulator has recognized the industry's serious concerns while maintaining less contentious aspects of its proposals to improve transparency in investigations, say lawyers at Irwin Mitchell.

• Court Backing Of FCA Pensions Ruling Sends Key Message

  

  The Upper Tribunal’s recent upholding of the Financial Conduct Authority's decisions against CFP Management directors serves as a judicial endorsement of the regulator’s approach to defined benefit transfers, underscoring that where the advisory model is fundamentally flawed, the consequences for those in control can be severe, say lawyers at RPC.

• Pension Schemes Bill's Most Notable, Controversial Measures

  

  The long-awaited Pension Schemes Bill recently introduced to Parliament creates a framework for harnessing money saved in U.K. workplace pension funds to grow the country’s economy, but provisions relating to local government pension scheme investment, and scale and asset allocation, are controversial, says Claire Dimmock at Squire Patton.

• Decoding Arbitral Disputes: Prestige's Jurisprudential Legacy

  

  The U.K. Supreme Court's recent denial of appeal ended Spain's decades-long quest to enforce an €855 million arbitral judgment against a London insurer, throwing into stark relief the increasingly complex relationship between arbitral sovereignty, foreign state immunity and the shifting terrain of post-Brexit private international law, says Josep Galvez at 4-5 Gray's Inn.

• UK Securities Tax Reform Will Be Welcomed By Investors

  

  The proposed reforms resulting from HM Revenue & Customs' recent consultation on modernizing stamp taxes on shares, suggesting a single digital tax on securities to replace stamp duty and stamp duty reserve tax, are expected to reduce complexity for investors transacting in U.K. securities, say lawyers at Ropes & Gray.

• A Shifting Landscape Of Greater Scrutiny After Data Breaches

  

  Recent Information Commissioner's Office fines for personal data breaches and a Home Office consultation signal a shift in the U.K. regulatory landscape, and with an increase in mass actions and resulting exposure, organizations should prepare for potential third-party claims from those incurring consequential losses, say lawyers at Atheria.

• What To Note As HM Treasury, FCA Plan New Crypto Regs

  

  Taken together, HM Treasury’s recently proposed crypto-asset regulations and the Financial Conduct Authority’s new discussion paper on regulating crypto-asset activities provide key insights into the government's planned regime, which represents significant changes that will affect all firms providing related services, says Mark Chalmers at Davis Polk.

• Russia Sanctions Spotlight: Divergent Approaches Emerge

  

  With indications of greater divergence and uncertainty in Russia sanctions policy between the U.K., European Union and U.S., there are four general principles and a range of compliance steps that businesses should bear in mind when assessing the impact of a potentially shifting landscape, says Alexandra Melia at Steptoe.

• FCA Update Eases Private Stock Market Disclosure Rules

  

  The Financial Conduct Authority’s recently updated proposals for the Private Intermittent Securities and Capital Exchange System would result in less onerous disclosure obligations for businesses, reflecting ongoing efforts to balance an attractive trading venue for private companies while maintaining sufficient investor protections, say lawyers at Debevoise.

• Why Cos. Should Investigate Unethical Supply Chain Conduct

  

  The U.K. government’s recent updated guidance for businesses on reporting slavery and human trafficking in supply chains underscores the urgent need for companies to adopt transparent and measurable due diligence practices, reinforcing the broader need for proactive internal investigations into unethical or criminal conduct, say lawyers at Seladore and Matrix Chambers.

• How UK Proposals Would Simplify Fund Manager Regime

  

  The ongoing HM Treasury consultation and Financial Conduct Authority call for input on the future regulation of alternative investment fund managers indicate that deliberate steps are being taken to make the AIF regime more suitable for the U.K. market, with the aim of encouraging growth and competitiveness, says Leonard Ng at Sidley.