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1 month ago | 
lexology.com | Rob Moulton |Nicola Higgs |Becky Critchley |Anna James |Charlotte Collins
The regulators have said they will not pursue their proposals on announcing enforcement investigations and on D&I. On 12 March 2025, the FCA and PRA made important announcements regarding the long-awaited outcomes on certain key policy proposals. The FCA published a letter addressed to the Treasury Select Committee and accompanying statement, while the PRA also published a letter to the Treasury Select Committee.
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1 month ago | 
lexology.com | Rob Moulton |Nicola Higgs |Becky Critchley |Charlotte Collins
The regulator found many examples of good practice, but also published further guidance and case studies to help firms address areas for improvement. On 7 March 2025, the FCA published findings from its review of firms’ treatment of vulnerable customers, along with new examples of good practice and areas for improvement. The regulator then ran an event on 11 March to discuss these findings.
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1 month ago | 
openlegalblogarchive.org | Rob Moulton |Nicola Higgs |Becky Critchley |Charlotte Collins
A review of fund and portfolio managers found a number of good practices, but also revealed the need for improvement in areas such as conflict management. By Rob Moulton, Nicola Higgs, Becky Critchley, and Charlotte CollinsOn 5 March 2025, the FCA published the findings from its review of private market valuation practices.
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1 month ago | 
lexology.com | Rob Moulton |Nicola Higgs |Becky Critchley |Charlotte Collins
A review of fund and portfolio managers found a number of good practices, but also revealed the need for improvement in areas such as conflict management. On 5 March 2025, the FCA published the findings from its review of private market valuation practices. The FCA undertook this review due to the growing importance of private markets and concerns that robust valuation practices need to be implemented to ensure trust and confidence in these markets.
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1 month ago | 
lexology.com | Rob Moulton |Nicola Higgs |Becky Critchley |Charlotte Collins
Speech focuses on the regulatory change agenda, and confirms that firms are no longer expected to have a Consumer Duty board champion. On 27 February 2025, the FCA published a speech given by Nikhil Rathi, in which he talks about the FCA’s efforts to support the government’s growth agenda. This follows a difficult few months for the regulator, in which it has come under increasing pressure from the government and individual Parliamentary groups and committees, from various angles.
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Jan 9, 2025 | 
jdsupra.com | Charlotte Collins |Becky Critchley |Nicola Higgs
The FCA proposes moving away from the PRIIPs KIDs to a more flexible, technologically neutral regime, which allows firms to innovate and prioritise good customer outcomes. On 19 December 2024, the FCA published a consultation on its proposed rules for the new Consumer Composite Investments (CCI) regime (CP24/30).
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Dec 10, 2024 | 
jdsupra.com | Charlotte Collins |Becky Critchley |Nicola Higgs
When the Edinburgh Reforms were announced on 9 December 2022, they were billed as an ambitious set of reforms. Two years on, we assess which of the measures have been completed, which remain outstanding, and whether they have delivered on the agenda set out. We also reflect on the recent Mansion House announcements, which have reset the future of regulatory reform.
Please see full publication below for more information.
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Dec 2, 2024 | 
jdsupra.com | Charlie Bowden |Kendall Burnett |Charlotte Collins
Proposals reflect drive to enhance the competitiveness of the UK regulatory landscape. On 26 November 2024, the PRA and the FCA published a joint Consultation Paper on changes to the remuneration rules (PRA CP16/24, FCA CP24/24). The changes are relevant to banks, building societies, and PRA-designated investment firms.
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Dec 2, 2024 | 
jdsupra.com | Charlotte Collins |Anna James |Andrea Monks
The regulator has significantly rowed back on aspects of the proposals following industry and government feedback. On 28 November 2024, the FCA published revised proposals for announcing enforcement investigations. The original consultation, launched in February 2024, proved to be one of the most controversial proposals put forward by the regulator and received an unprecedented response from industry and the government (for more detail on the original proposals, see this Latham blog post).
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Nov 20, 2024 | 
jdsupra.com | Charlotte Collins |Fiona Maclean |Rob Moulton
The new regime will take effect on 1 January 2025, but will not diminish the responsibilities of financial services firms relying on the services of critical third parties. On 12 November 2024, the PRA, FCA, and Bank of England jointly published a Policy Statement (PRA PS16/24 and FCA PS24/16), setting out their final rules for critical third parties (CTPs).
