10/26/2021
New version of SFDR RTS published on Friday
This briefing sets out a few initial items relevant for implementation that have changed since the March Taxonomy RTS.
Legal, Regulation & Compliance
10/26/2021
UK government sets out plans for regulation of buy now pay later sector
The consultation covers goods bought under unregulated BNPL agreements between a customer and a retailer
10/26/2021
UK Financial Regulator Raises No Objection to Bain’s Acquisition of Insurer LV=
A report by an All-Party Parliamentary Group of lawmakers said in April that it is very difficult for an LV= member to assess if demutualisation is in their best interests or not.
10/26/2021
Financial Regulation: Daily Update
The Department of Work and Pensions is expected to consult on regulations relating to pensions dashboards this winter, with the regulations coming into force later in 2022.
10/25/2021
ECB urged to tighten trading rules for policymakers
The Fed on Thursday banned individual stock purchases by its top officials and unveiled other restrictions after an uproar over trades made in 2020, when the U.S. central bank intervened to stop a collapse in financial markets as the pandemic raged.
10/25/2021
FCA finalises fund framework to spur investment into riskier assets
The new long term asset fund will require investors to give at least 90 days' notice before making withdrawals
10/25/2021
Financial Regulation: Daily Update
The final rules on the LTAF regime aim to support investment in long-term assets, including venture capital, private equity, private debt, real estate and infrastructure.
10/25/2021
Financial Services and Banking News
FCA Handbook Notice No 92
10/24/2021
Financial Regulation: Daily Update
The FCA intends to publish a third policy statement by the end of 2021.
10/24/2021
Climate Financial Risk Forum Guide 2021 - Managing legal risk
There is also an excellent Climate Data and Metrics report which was driven by Impax and Willis Towers Watson which shares key insights from thematic work across the Forum and applies these insights to an illustrative climate disclosure dashboard.
10/24/2021
Investment Firms Prudential Regime final rules published
It will refocus requirements and expectations away from the risks that firms face, to also consider and look to manage the potential harm firms can pose to consumers and markets.
10/22/2021
Changes to SPACs regulation will impact European tech M&A
That is changing, though, with several countries, including the UK, embracing reform in the hope of encouraging greater investment to enable innovative businesses to grow.
10/22/2021
Dutch regulatory authorities strengthen cooperation over regulation of digital activities
The AP also announced that the four authorities will jointly invest in knowledge, expertise and skills and will explore if they can support each other, for example by tackling problems in the digital market together.
10/22/2021
How share plans relate to European tech M&A and the digital skills shortage
Access to skilled labour is imperative to the success of any business, particularly in the technology sector where innovation is so vital to a business’ ongoing competitiveness, growth, attractiveness and value.
10/22/2021
Cyprus to Revoke 45 Golden Visas Issued Illegally
Because of obvious irregularities revealed by the media and the subsequent criticism by Brussels, it was terminated in 2020.
10/22/2021
European lawmakers and competition authorities focus on tech transactions
Recent decisions by national competition authorities under the merger control rules illustrate the current approach by the authorities to these issues.
10/22/2021
EBA replies to the European Commission’s call for advice on funding in resolution and insolvency
The EBA response provides a descriptive analysis on banks’ capacity to access resolution financing arrangements (RFA) based on banks’ balance sheets and their business models, as well as an analysis based on a modelling approach to simulate cr
10/22/2021
HMRC to send nudge letters to crypto asset investors
We have published detailed guidance to help our customers apply tax law to crypto assets correctly.
10/21/2021
Credit Suisse fined £147,190,276
Credit Suisse has also agreed with the FCA to forgive US$200 million of debt owed by the Republic of Mozambique as a result of these tainted loans.
10/21/2021
UK Government publishes National Artificial Intelligence Strategy
This announcement comes only a few months after the European Commission published its own comprehensive proposals for regulating AI technologies.