Events listed in [GOV.UK] UK Government
Financial sanctions, Iran relating to nuclear weapons
ID 25952
The HM Treasury’s Office of Financial Sanctions Implementation (OFSI) has published a new Financial Sanctions Notice regarding sanctions measures with respect to persons and entities associated with the production of nuclear weapons in Iran pursuant to Statutory Instrument SI 2019/461, the „Iran (Sanctions) (Nuclear) (EU Exit) Regulations 2019“. Specifically, the OFSI informs that it has updated its sanction list by **amending the records of ...
Financial sanctions targets: list of all asset freeze targets
ID 25939
Following the publication of new sanction measures, a new consolidated version of the list containing the names of ALL parties currently subject to asset freezing measures in the UK as of November 27, 2023 was published by the Office of Financial Sanctions Implementation of the HM Treasury.
OFSI General Licences
ID 25920
The Office of Financial Sanctions Implementation of the HM Treasury has extended the application date of General License (INT/2023/3566356) under Regulation 64 of the Russia (Sanctions) (EU Exit) Regulations 2019 (SI 2019/855) and under Regulation 32 of the Republic of Belarus (Sanctions) (EU Exit) Regulations 2019 (SI 2019/600). The license permits financial institutions and payment service providers to make payments that would otherwise be ...
The Harrington Review of Foreign Direct Investment
ID 25908
In March 2023, Lord Harrington was tasked by the UK government to review the UK’s approach to attract Foreign Direct Investment (FDI) in an effort to enhance the competitiveness of the UK (financial) market and to come up with recommendations as to possible improvements to promote FDI. The focus of the review lied on the exploration of methods, mechanisms, and frameworks aimed at attracting ...
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 ...
Consultation on the Digital Securities Sandbox
ID 25904
Following the launch of a consultation on a Digital Securities Sandbox (DSS) in July this year, the HM Treasury has now published a corresponding response paper. In this response paper, the Treasury outlines the feedback it has received to its consultation and presents its way forward in this matter. To recall, the sandbox will allow companies to provide trading and settlement infrastructures for digital ...
International Joint Statement on the Crypto-Asset Reporting Framework
ID 25903
On November 10, 2023, various nations, including – among others – Germany, Switzerland, Italy, Singapore, the U.S., and the UK, have published a joint statement in which they commit to the implementation of the „Crypto-Asset Reporting Framework“ (CARF), an international standard for the automatic exchange of information between tax authorities on financial transactions involving digital assets, including crypto-assets. The framework was developed by th ...
Pension trustee skills, capability and culture: a call for evidence
ID 25902
Following the launch of a „call for evidence“ on „pension trustee skills, capability and culture“ in the summer 2023, the Department for Work and Pensions (DWP) and the HM Treasury have now published their response to the consultation. In this response, the regulators briefly summarize the feedback they have received and outline the way forward on the issue. To recall, in the „call for ...
Short Selling Regulations 2024
ID 25900
In view of UK’s efforts to eliminate EU retained regulation (REUL) and replace it with meaningful, proportionate, and commensurate legislation that suits the UK financial market, the HM Treasury has now published its proposed framework regulation to set the stage for the replacement of the currently retained EU Short Selling Regulation (UK SSR). The new Draft Statutory Instrument (SI) titled [**The Short Selling Regulations ...
UK Retail Disclosure Framework – Draft SI and Policy Note
ID 25897
In view of UK’s efforts to eliminate EU retained regulation (REUL) and replace it with meaningful, proportionate, and commensurate legislation that suits the UK financial market, the HM Treasury has now published its proposed framework regulation to set the stage for the replacement of the currently retained EU PRIIPs Regulation (UK PRIIPs). The new Draft Statutory Instrument (SI), suggested to be titled [**Consumer Composite ...