Topic: UK FCA

A “culture of fear” over risk-taking: FSB calls for UK regulators to align on remuneration

UK regulators should better align their compensation frameworks to avoid creating a “a culture of fear” around proactive risk taking at banks, according to a new report from the Financial Stability Board.

15 April 2021

UK banks given operational resilience deadline

The UK’s financial regulators have announced new operational resilience measures, giving banks one year to implement their plans.

01 April 2021

FCA to reach beyond remit in “holistic” authorisation process for non-UK firms

The UK’s Financial Conduct Authority has told foreign financial institutions it will monitor all their activities, including those that fall outside its remit and non-UK-based business, before granting them a licence to operate in the country.

04 February 2021

UK considers "extra-territorial" stablecoin rules

The UK is floating proposals to require overseas stablecoin providers to establish a legal entity in the country to offer their services, which one practitioner warns will be incompatible with some providers’ business models.

20 January 2021

UK announces post-Brexit equivalence for European firms

The UK Treasury has announced it will grant several equivalence rights to EEA financial firms, amid doubts the EU will reciprocate without the UK including further arrangements in their Brexit plans.

11 November 2020

UK announces climate stress test and mandatory TCFD roadmap

The Bank of England has confirmed that its inaugural climate stress tes will take place next year, as the UK’s chancellor announces a roadmap to will make climate disclosure mandatory for banks by the end of next year.

10 November 2020

ESMA to get greater non-EU firm monitoring powers

In a move that could allow European investors to avoid publicly disclosing certain UK-based transactions, the European Securities and Markets Authority has confirmed it will assess UK trading venues before the end of the year –  as the regulator gets greater powers to monitor non-EU firms transacting in the bloc.

05 October 2020

FCA and PRA push Brexit changes as transition end-date approaches

The UK’s Financial Conduct Authority is encouraging riskier EU banks to establish local subsidiaries rather than branches after Brexit, in a new guide to its approach to international firms – while the Prudential Regulation Authority has issued changes to its binding technical standards and rulebook as the transition nears its end.

24 September 2020

Community round-up: departures at MAS and FCA

The UK’s Financial Conduct Authority and the Monetary Authority of Singapore have both announced the departures of key names.

22 September 2020

WhatsApp Pay awaits launch on India’s “world-class” payments system

WhatsApp has received a boost in its quest to launch its payment platform in India after a Supreme Court affidavit filed last week revealed it has complied with data localisation rules, but the Indian central bank is yet to give it the go-ahead.

05 August 2020

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