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Author - Rawa Hussain

FCA publishes issue 69 of Market Watch

On 17 May 2022, the FCA published Market Watch 69, its newsletter on market conduct and transaction reporting issues. The newsletter focuses on firms’ arrangements for market abuse surveillance, drawing on the...

Queen’s Speech 2022 – FS elements

The Queen’s Speech 2022 outlined the government’s legislative priorities for the next parliamentary session. The measures announced include two bills of particular interest to financial services...

LSB publishes its 2022/23 Business Plan

On 3 May 2022, the Lending Standards Board (LSB) published its Business Plan and Budget for 2022/23. in the plan, the LSB sets out its strategic priorities and provides further information on the activities it intends...

FCA revised Complaints Scheme delayed

Following a joint consultation with the Bank of England and the PRA which ended on 12 October 2020, the FCA has advised they are still in the process of updating their Complaints Scheme which promises to be more user...

PRA publishes Business Plan 2022/23

The PRA Business Plan sets out the PRA’s strategy, workplan, and budget for 2022/23. The PRA’s strategy will be delivered through the following strategic goals: Retain and build on the strength of the banking and...

CMA publishes Annual Plan for 2022/23

The CMA has published its Annual Plan which explains how it will protect consumers, promote competition and help support the economy in the year ahead. It aims to encourage innovation, productivity, and sustainable...

New rules on cryptocurrencies in the EU

MEPs have agreed on draft rules on supervision, consumer protection and environmental sustainability of crypto-assets, including cryptocurrencies such as bitcoins. For those issuing and trading crypto-assets, the new...

PRA Occasional Consultation on minor changes

The PRA has issued a Consultation Paper setting out proposals to make minor amendments to UK Technical Standards (UKTS), PRA rules, supervisory statements, Legacy Supervisory Statements, and a Statement of Policy...

Insurance business transfer scheme permitted

An application under Part VII of FSMA 2000 was made for sanctioning an insurance business transfer scheme which involved the transfer of insurance policyholders from Assured Guaranty (Europe) PLC (in the UK) to Assured...

FCA portfolio letter for Credit Unions

The FCA has published a portfolio letter to Credit Union Boards setting out the usual key risks of harm that are present for Credit Unions, their members and the markets in which they operate. The letter asks firms to...

PSR issues new Specific Direction 12 to LINK

The PSR has given Specific Direction 12 (SD12) to Link Scheme Holdings Ltd (LINK) allowing them to maintain the broad geographic spread of the UK’s free-to-use (FTU) cash machine network. The new Direction follows...

Pay.UK develops new data model

Pay.UK has developed a new tool in collaboration with UK Finance to help prevent Authorised Push Payment (APP) fraud. The new ‘logical data model’ will be a useful foundation for categorising relevant customer data to...

Tribunal upholds FCA’s Decision Notice

HMCTS (Tribunal) has dismissed two applications made by an applicant against the Financial Conduct Authority (FCA). The FCA had given a Decision Notice to Przemyslaw Soszynski t/a Phenix Consultancy (Applicant) refusing...

IRSG criticises CRD6

The International Regulatory Strategy Group (IRSG) has published a narrative on the European Commission’s proposal for new rules for third country providers of banking services as part of the EU Capital...