Posts Categorized: Financial Services – U.K.

U.K. Exit from E.U. Taking Shape Amid Political Confusion

On June 26, 2018, the United Kingdom adopted the European Union (Withdrawal) Act 2018 providing for a framework for “Brexit” under which E.U. law adopted in the U.K. would continue to apply during an implementation period and government minsters would have the power to adopt implementing rules.  The United Kingdom is currently to leave the European… Read more »

FCA Papers on Approaches to Regulation, Supervision and Enforcement

The U.K. Financial Conduct Authority (the “FCA”) has followed its 2017 papers on the principles and approaches it will apply to regulation, consumers, competition and authorization with two March 2018 papers on supervision and enforcement.  See Press Release, which sets forth links to the two papers, Approach to Supervision and Approach to Enforcement.  The FCA says that it plans to… Read more »

U.K. Anti-Money Laundering Regulation Updated

The United Kingdom has published a near final regulation, the Money Laundering and Transfer of Funds (Information on the Payer) Regulations 2017 (the “Regulation”) under the E.U. Fourth Money Laundering Directive, to replace the Money Laundering Regulations 2007.  The Regulation is due to go into effect on June 26, 2017, although it may be delayed.  Under the… Read more »

U.K. Further Implements MIFID II

In March, the U.K. issued the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2017 (2017/488) (the “Order 1”) and the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2017 (2017/500) (the “Order 2”), implementing part of MIFID II. which is the European Union’s update of regulation of the financial services… Read more »