Sahej Grewal

Dec 28, 2023 | lexology.com | Robert Chaplin |Azad Ali |Sahej Grewal |Olivier Peeters

UK regulators have recently announced a number of reforms for banks and other financial institutions. On 23 November 2023, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) (together, the “regulators”) issued consultation papers on proposed updates to the UK change-in-control regime. On 5 December 2023, the PRA released a policy statement on a “Strong and Simple Framework” for UK banks.

Oct 10, 2023 | lexology.com | Robert Chaplin |George Belcher |David Wang |Sahej Grewal

As discussed in our November 2022 and July 2023 newsletters,1 the UK government is implementing a comprehensive set of proposals for regulation of financial services in the UK, including for insurers. This follows the UK’s withdrawal from the European Union on 31 December 2020, with the UK now exercising its freedom to move away from key EU insurance prudential regulatory standards, to develop a regime known as “Solvency UK’.