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Jan 23, 2025 | 
herbertsmithfreehills.com | Charlotte Henry |Luke Hastings |Kelesi Blundell |Marina Reason
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Jan 23, 2025 | 
herbertsmithfreehills.com | Jon Ford |Hannah Cassidy |Charlotte Henry |Marina Reason
Insight Global Reports and highlights - By 6m read How should AI be regulated in financial services? Regulators are torn between the allure of AI and the undoubted risks. Firms are caught in the middle, with often inconsistent approaches being taken in different jurisdictions. No wonder over half of the attendees at our London Financial Services Regulatory Conference in October 2024 listed AI as their top priority for 2025 and beyond.
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Jan 21, 2025 | 
herbertsmithfreehills.com | Clive Cunningham |Nick Pantlin |Marina Reason |Kelesi Blundell
OPERATIONAL RESILIENCE: PROPOSED CTP REGIMES – UK / EU COMPARISON UK (FSM Bill + DP3/22) EU (DORA) 1. Scope of Regime Applies to CTPs only. Firms remain subject to existing rules (and regulator expectations) on operational resilience, outsourcing and third party risk management. Wide category of CTP services: CTPs are not limited to digital / data service providers. Cloud Services Providers (CSPs) are likely to be considered for designation.
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Oct 24, 2024 | 
lexology.com | Marina Reason |Clive Cunningham |Kelesi Blundell |Chris Hurn
The government has launched a fast-tracked consultation to "act urgently" in introducing new rules to regulate Buy-Now, Pay-Later productsHM Treasury has published a consultation to bring Buy Now, Pay Later (BNPL) firms within the scope of FCA regulation. This has been a long time coming, with HM Treasury having already consulted twice on changes to the rules surrounding BNPL.
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May 13, 2024 | 
financialregulationintl.com | Lisa Fried |Hywel Jenkins |Mark Smyth |Marina Reason
Disclosure, reporting, labelling, anti-greenwashing requirements and beyond2024-03-31 00:00:00.0This article examines regulatory and strategic developments relating to environmental, social and governance (ESG) policy in the EU, UK, Australia and the US. ESG and sustainability are areas of increasing focus for the global financial services industry (and the wider economy) so regulators and businesses all have important roles to play. Start benefiting from our expert analysis straight away.
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May 13, 2024 | 
financialregulationintl.com | Lisa Fried |Hywel Jenkins |Mark Smyth |Marina Reason
2024-05-10 00:00:00.0This article examines regulatory and strategic developments relating to environmental, social and governance (ESG) policy in the EU, UK, Australia and the US. ESG and sustainability are areas of increasing focus for the global financial services industry (and the wider economy) so regulators and businesses all have important roles to play. Start benefiting from our expert analysis straight away. Click here to subscribe.
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Mar 20, 2024 | 
mondaq.com | Clive Cunningham |Marina Reason |Kelesi Blundell |Erica MacDonald
The government has made new regulations (the 2024 Order) to update the
exemptions in the Financial Services and Markets Act 2000 (Financial
Promotions) Order (2005) (the FPO), and the equivalent
exemptions in the Financial Services and Markets Act 2000 (Promotion
of Collective Investment Schemes) Order 2001 (PCIS), relating
to high net worth individuals and sophisticated investors.
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Feb 13, 2024 | 
mondaq.com | Jon Ford |Marina Reason |Simone Hui |Michelle Virgiany
Senior managers need to be confident in their approaches to
their firms' use of AI in order to manage regulatory
expectations and deliver good customer outcomes
AI is transforming the global economy. Firms' leaders and
senior managers are grappling with how this will impact financial
services. The opportunities are significant: generative AI is
estimated to lead to increases in productivity of between 2.8% to
4.7% of banks' annual revenues (a US$200 – 340 billion
increase)1.
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Feb 9, 2024 | 
mondaq.com | Lisa Fried |Hywel Jenkins |Mark Smyth |Marina Reason
Regulatory activity in various jurisdictions is hotting
up, making it abundantly clear that, as with climate change, words
are not enough
In 2024, the EU will plough ahead with upgrading its various
disclosure requirements, requiring firms to do a lot of heavy
lifting to implement changed and new rules.
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Feb 5, 2024 | 
lexology.com | Nish Dissanayake |Patricia Horton |Zoë Wilson |Shantanu Naravane |Krishna Shorewala |Clive Cunningham | +2 more
Last week, the government announced its first equivalence decision under s271A of the Financial Services and Markets Act 2000 (FSMA), finding the EEA states to be equivalent under the Overseas Funds Regime (OFR). The equivalence decision will apply to undertakings for collective investment in transferable securities (UCITS), except those which are also Money Market Funds (MMFs), as there is ongoing regulatory development in this area.
