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Jul 30, 2024 | 
cms.law | Tom Dane |Alison McHaffie |Bill McCaffrey
Motor finance commission claims: FCA leaning towards consumer redress scheme in 2026? 30/07/2024Announcements made by the FCA on 30 July 2024 suggest that motor finance commission claims could be the subject of a consumer redress scheme implemented in 2026. Whilst the FCA are keen to stress that nothing has been decided yet and various options remain on... Read moreAuthors Alison McHaffiePartnerLondonBill McCaffreyPartnerLondon
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Feb 29, 2024 | 
cms.law | Simon Morris |Alison McHaffie |Billy Bradley |Lianna Chan
29/02/2024With every new director of enforcement and market oversight at the Financial Conduct Authority (FCA), there is a step change in the way the regulator approaches enforcement cases.Under the FCA's former incumbent in the role, the threshold for opening enforcement... Read more
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Feb 29, 2024 | 
lexology.com | Simon Morris |Alison McHaffie |Billy Bradley |Lianna Chan
With every new director of enforcement and market oversight at the Financial Conduct Authority (FCA), there is a step change in the way the regulator approaches enforcement cases. Under the FCA's former incumbent in the role, the threshold for opening enforcement cases was lowered, leading to an increase in its enforcement caseload and an increase in the length of time for an investigation to be concluded.
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Nov 6, 2023 | 
lexology.com | Robert Dedman |Alison McHaffie |Emma Clark
IntroductionThe UK financial regulators are finally beginning to turn their minds in a serious way towards how they will supervise firms seeking to deploy artificial intelligence (AI) in an increasingly automated industry. In Discussion Paper 5/22 (DP5/22), the UK regulators split the AI lifecycle into three distinct stages: pre-deployment, deployment and recovery/redress. This briefing focuses on the matters firms should have in mind when in the pre-deployment phase.
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Oct 26, 2023 | 
peoplemanagement.co.uk | Alison McHaffie |Steven Cochrane
After much talk, the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) have published a consultation paper seeking to boost diversity and inclusion to support healthy workplace cultures.
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Oct 12, 2023 | 
cms.law | Bill McCaffrey |Alison McHaffie
Supreme Court provides importance guidance on limitation in the context of “unfair relationship” claims under sections 140A-C of the Consumer Credit Act 197412/10/2023The recent Supreme Court judgment in Smith and another v Royal Bank of Scotland plc [2023] UKSC34 is an important decision for all lenders in the context of claimants seeking relief as a result of an alleged “unfair relationship” under sections 140A-C of the...
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Oct 9, 2023 | 
lexology.com | Robert Dedman |Alison McHaffie |Emma Clark
The unexpected speed with which Artificial Intelligence (AI) has captured the public imagination – both in business and in private lives – has been staggering. And both the regulators and the regulatory system itself have struggled to keep up with the pace of change. In October 2022, the FCA and the PRA issued DP5/22, which sets out a high level framework for discussion of the evolving regulation of artificially intelligent systems.
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Sep 15, 2023 | 
cms.law | Bill McCaffrey |Alison McHaffie |James Dickie |Faye Ellis
15/09/2023If your firm is authorised by the Financial Conduct Authority (“FCA”) but is not within scope of the Money Laundering Regulations 2017, you may want to check your FCA fee statement. This is because your firm may have been charged the Economic Crime (Anti-Money... Read more
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Sep 10, 2023 | 
cms.law | Robert Dedman |Alison McHaffie |Emma Clark
Pathways to progress: Board Oversight and Accountability in an Artificially Intelligent World09/10/2023IntroductionThe unexpected speed with which Artificial Intelligence (AI) has captured the public imagination – both in business and in private lives – has been staggering. And both the regulators and the regulatory system itself have struggled to keep up... Read moreAuthors Robert DedmanPartnerLondonAlison McHaffiePartnerLondonEmma ClarkPartnerLondon
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Feb 11, 2023 | 
cms.law | Robert Dedman |Alison McHaffie |Emma Clark
Pathways to progress: Intelligent Design for an AI World02/11/2023IntroductionThe UK financial regulators are finally beginning to turn their minds in a serious way towards how they will supervise firms seeking to deploy artificial intelligence (AI) in an increasingly automated industry. In Discussion Paper 5/22 (DP5/22)... Read moreAuthors Robert DedmanPartnerLondonAlison McHaffiePartnerLondonEmma ClarkPartnerLondon
