Region: United Kingdom

British MPs query ringfencing exception in HSBC’s purchase of SVB UK

The terms of HSBC’s £1 purchase of Silicon Valley Bank UK are coming under scrutiny from UK lawmakers, who have questioned why HSBC required exemptions from the UK’s ringfencing regime as a condition of the transaction.

16 March 2023

“Not about unlearning lessons”: UK plans ring-fencing and bank resolution tie-up

A year after the Skeoch Review called for the UK to align its ring-fencing and bank resolution regimes, the UK government has fired the starting gun on the process to do so with a plan which would take some firms out of its scope.

06 March 2023

Lending by decree

PA Consulting partner Chris Spedding explains how the UK’s corporate and commercial banking sector will need to adjust to unprecedented state intervention.

03 March 2023

FCA warns firms over IFPR implementation

The UK’s Financial Conduct Authority has criticised how investment firms have implemented its year-old prudential regime – complaining about a lack of adequate assessments for individual firms within investment groups, and a failure to adequately use risk information to keep the regulator informed about their risk appetites.

02 March 2023

BoE and FCA finalise UK EMIR reporting rules

The UK’s principal financial regulator and central bank have settled on final requirements to harmonise the quality of data under the derivative reporting framework under the UK version of EMIR, in pursuit of parity with IOSCO’s standards.

28 February 2023

Bovill hires two from FCA

Two regulatory specialists from the Financial Conduct Authority have joined the financial services regulatory consultancy Bovill.

24 February 2023

FCA to shake up its asset management rules

The UK’s Financial Conduct Authority has announced plans to revamp the country’s asset management sector, in the latest iteration of British regulators’ attempt to move away from the EU’s financial services rulebook.

22 February 2023

Two fifths of firms have no EMIR Refit plan, report finds

Many firms are “behind the curve” on preparedness for the European Market Infrastructure Regulation’s Refit, a survey of transaction reporting decision-makers has found – with two fifths still without an action plan in place.

20 February 2023

Report: Security token issuance “possible” under English law without new legislation

The existing English legal system could accommodate security token issuance and transfer without “statutory intervention”, a UK government-backed group has said.

17 February 2023

Three years on from Brexit: a few hits, and many misses. So what’s to come?

While Brexit is yet to deliver the bombastic deregulatory hopes of “Big Bang 2.0”, that’s probably for the best, argue ACA group directors Andrew Poole and Charlotte Longman.

16 February 2023

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