Events listed in Financial Services and Markets Act 2000
CP9/23 – The Bank of England’s approach to enforcement: proposed changes and ...
ID 23109
The Bank of England (BoE) has launched a public consultation (CP9/23) as regards its approach to enforcements. In this consultation, the BoE proposes several procedural alignments as regards its enforcement policies in an effort to increase efficiency and effectiveness of its enforcement policy and transparency to financial market participants. The consultation is relevant for all supervised entities by the BoE or its Prudential Regulation ...
Future regulatory regime for Environmental, Social, and Governance (ESG) ratings ...
ID 22584
In view of the increasing significance of ESG data and ratings in making investment decisions and in view of the current shortcomings in this context (lack of transparency, poor governance, poor handling of conflicts of interest), the HM Treasury has launched a new consultation on a new, quite general regime for ESG rating providers. Specifically, the Treasury proposes to bring ESG providers under the ...
Cryptoasset promotions
ID 22484
In view of the current scrutiny of the Parliament of proposed legislative changes to bring the promotion of certain types of cryptoassets within the scope of the financial promotions regulation (The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (SI 2005/1529)), the HM Treasury published on March 27, 2023 the so-called Keeling Schedule. The schedule outlines the proposed changes to the [Financial ...
Long-term Investment For Technology and Science (LIFTS) initiative: request for ...
ID 22281
On March 15, 2023, the Department of Business & Trade and the HM Treasury launched a joint consultation in connection with the government’s so-called LIFTS (Long-Term Investment for Technology & Science) initiative. The initiative aims to promote large scale institutional and pension scheme investments in venture capital funds that primarily invest in UK science and technology businesses, particularly start-ups coming from UK universities. The ...
The Amendments of the Law (Resolution of Silicon Valley Bank UK Limited) Order 2023
ID 22247
In view of the failure of the U.S. Silicon Valley Bank and the UK regulators‘ intention to sell the UK subsidiary of the Silicon Valley Bank UK Limited (SVBUL) to HSBC UK Bank plc., the regulators have issued a new order, the Amendments of the Law (Resolution of Silicon Valley Bank UK Limited) Order 2023 which was now published on legislation.gov.uk, the official website ...
Payment systems memorandum of understanding
ID 22171
The Bank of England (BoE) has issued a press statement to inform of the findings from a recent review of its Memorandum of Understanding (MoU) concluded by the BoE itself, the Financial Conduct Authority (FCA), the Payment Systems Regulator (PSR), and the Prudential Regulation Authority (PRA) as regards the supervision of payment systems in UK. Having reviewed the feedback from stakeholders and having considered ...
Update on our public statement on the London Metal Exchange
ID 22140
Following last year’s announcement of the Financial Conduct Authority (FCA) and the Prudential Regulatory Authority of the Bank of England (PRA) to initiate further steps as regards the trade suspension of nickel trading on the London Metal Exchange (LME) that took place between March 8 and March 15, 2022, the FCA has now published a follow-up on this matter. Therein, the FCA notes that ...
Bank of England announces supervisory action on LME Clear
ID 22137
Following last year’s announcement of the Financial Conduct Authority (FCA) and the Prudential Regulatory Authority of the Bank of England (PRA) to initiate further steps as regards the trade suspension of nickel trading on the London Metal Exchange (LME) that took place between March 8 and March 15, 2022, the PRA has now issued another statement in this context. Specifically, in view of LME ...
Cryptoasset promotions
ID 21691
Following a consultation on restrictions to promote certain cryptoassets in UK and the publication of a consultation outcome paper and the issuance of a corresponding Policy Statement, the HM Treasury has now updated this Policy Statement in light of recent market turmoils involving cryptoassets as described below. #### Background To recall, in July 2020, the HM Treasury launched a consultation on a proposal to ...