Topic: UK FCA

Cum-ex and other forms of dividend arbitrage – implications for financial institutions in the UK

RPC partners Adam Craggs and Michelle Sloane, and associate Alice Kemp, consider the recent convictions in the first criminal trial related to Cum-ex trades, and the ongoing impact for financial institutions in the UK.

29 June 2020

FCA to get new powers for Libor "tough legacy" contracts

The UK is set to pass new legislation granting its Financial Conduct Authority new powers to manage the transition away from the Libor benchmark – including specific rules for handling ‘tough legacy’ contracts.

24 June 2020

New FCA chief executive named

London Stock Exchange chief executive Nikhil Rathi has been tapped to lead the UK’s Financial Conduct Authority.

22 June 2020

NatWest dodges Libor fixing suit after claim misses six-year deadline

NatWest has avoided an £8 million Libor-related consequential loss claim after an English judge ruled it had overshot its limitation period by a fortnight.

29 May 2020

ECB tells banks to show their working in climate-related disclosures

Banks should publish the research that informs their climate-related and environmental risk assessments, the European Central Bank has said.

22 May 2020

Asset class consistency key in pre-cessation trigger, ISDA finds

Market participants have told the International Swaps and Derivatives Association (ISDA) to add a pre-cessation trigger to inter-bank offered rate fallback documentation, highlighting consistency across asset classes and within derivative markets as a prerequisite.

18 May 2020

BoE staggers Libor haircuts to mirror FCA delays

The Bank of England has altered its roadmap for phasing out the use of the Libor interest rate benchmark by UK banks to April next year, mirroring a delay announced by the Financial Conduct Authority last month.

11 May 2020

Regulators warned of coronavirus aftershock without Libor transition delay

Regulators could make banks vulnerable to a post-coronavirus market shock if they insist on phasing out Libor by its original end-of-2021 deadline, according to legal professionals.

03 April 2020

“Purposeful” culture: the FCA approach and driving diversity

The UK’s Financial Conduct Authority recently called on firms to develop a “purposeful” culture. But what does “purpose” mean for financial institutions?

27 March 2020

The rainy day is here: regulators delay reforms and dial down capital buffers amid Covid-19

Regulators around the world are delaying long-planned reforms, cancelling stress tests and reducing or eliminating capital buffer requirements as financial institutions grapple with the economic impact of the Covid-19 outbreak.

20 March 2020

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