Events listed in Financial Services and Markets Act 2000
The Bank of England’s approach to statutory notice decisions for use of its ...
ID 26454
The Bank of England has launched a consultation on a proposed new statement of policy outlining its approach to the use of its requirements powers, which are utilized to ensure financial stability and achieve statutory objectives. This policy would clarify the procedures followed by the Bank in exercising its requirements power which enables the Bank to compel entities to take or refrain from or ...
The Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) (No. ...
ID 26391
The Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) (No. 2) Order 2023 was recently published on the official journal of the UK. The new order primarily focuses on amending the criteria and procedures for classifying individuals as high net worth individuals and self-certified sophisticated investors for purposes of determining their status and permitting eligible investments only, as well as the associated documentation ...
Identifying controllers – example structure chart [pdf]
ID 26237
In an effort to ensure that FCA-regulated financial services firms are well-managed and operate with integrity, the Financial Conduct Authority (FCA) requires notification when there’s a change in control, such as a change in ownership, acquisition of a significant number of shares, or changes in key personnel that could affect the management or decision-making of a firm. This notification obligation helps the FCA assess ...
Engagement feedback on the new public offers and admissions to trading regime
ID 26204
The Financial Conduct Authority (FCA) has issued an „Engagement feedback paper“ which outlines the responses the Authority has received to a number of so-called „engagement papers“ it published earlier this year to collect views on aspects to be considered in the design of a new public offers and admissions to trading regime. — ##### Background To recall, in May and July 2023, the FCA ...
PRA Regulatory Digest – November 2023
ID 26035
The Prudential Regulation Authority (PRA) has published the latest version of its monthly regulatory digest (November 2023). The digest outlines the Authority’s ongoing regulatory activities ranging from the launch of consultations, to the issuance of policy statements, to the implementation of regulatory changes and provides links to corresponding (legal) documents. The regulatory digest presents a viable source of information to stay up-to-date on regulatory ...
CP25/23 – Supervisory statement – Prudential assessment of acquisitions and ...
ID 25915
The Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) have launched a joint consultation on the replacement of the EU Guidelines for the prudential assessment of acquisitions and increase of holdings in the financial sector (3L3 Guidelines). The guidelines set out the procedures to be followed and the criteria to be considered in evaluating acquisitions and large position increases, including – the ...
Financial promotion exemptions for high net worth individuals and sophisticated ...
ID 25905
Following a consultation in 2021 on proposed revisions to the „financial promotion orders“ as regards the exemption of high net worth individuals and sophisticated investors, the HM Treasury has now published a corresponding response paper. In this response paper, the Treasury summarizes the responses it has received to its consultation and the way forward in this matter. #### Background In 2021, the Treasury proposed ...
£320 million plan to usher innovation and deliver Mansion House Reforms
ID 25886
The Chancellor of the Exchequer, Jeremy Hunt, and the HM Treasury have published a joint press statement in which they announces some key measures to drive investment in growth in the UK. While most measures are negligeable from the viewpoint of financial market participants, we would like to draw attention to the following measure that has been adopted and that was previously consulted on ...
The Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2023
ID 25004
The Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2023 (SI 2023/1018) were published on legislation.gov.uk, the official site for regulatory publications. The Regulations modify Part 5, Regulation 12 of the Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2019 to extend for one year the permission of specified Gibraltar financial service providers to conduct business in the UK AND vice versa under the corresponding transitional ...
The Financial Services and Markets Act 2000 (Exemptions from Financial Promotion ...
ID 24850
The new Financial Services and Markets Act 2000 (Exemptions from Financial Promotion General Requirement) Regulations 2023 regarding the approval of financial promotions. Specifically, the regulations supplement the new Financial Services and Markets Act 2023 (FSMA 2023) which requires authorized persons to first get permission from the Financial Conduct Authority (FCA) or the Prudential Regulation Authority (PRA) when approving financial promotions of unauthorized firms. The ...