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Our latest blog posts on regulators and regulatory framework

FCA publishes discussion paper on admissions and disclosures and the market abuse regime for cryptoassets

On 16 December 2024 the FCA published its much-anticipated Discussion Paper on (i) cryptoasset admissions and disclosures and (ii) the market abuse regime for cryptoassets (DP24/4). This is the first…

Author(s): Cyrus Pocha, Claire Harrop, Emma Probyn, Christine Simpson, Christopher Bernard, Noah Schmidt, Eden Elder

  • cryptocurrency
  • financial services
  • fintech
  • regulatory
  • regulatory framework

Harnessing Smart Data in the UK as a National Asset: What businesses need to know

On 23 October 2024 the UK government introduced the Data (Use and Access) Bill to Parliament (the DUAB). The DUAB is a wide-ranging and significant reform package with implications for all businesses…

Author(s): Giles Pratt, Rachael Annear, Tristan Lockwood, Adam Gillert, Hazel Ling

  • data
  • data protection
  • digital payment
  • e-commerce
  • energy and natural resources
  • financial institutions
  • fintech
  • gdpr
  • ico
  • innovation
  • regulatory
  • regulatory framework
  • telecommunications

Regulating cryptoassets in the UK: a guide to the road ahead

Finally! Avid readers of Freshfields blogs might remember from our post last autumn that the UK government and financial regulators in October 2023 announced plans for a phased approach to…

Author(s): Cyrus Pocha, Claire Harrop, Christopher Bernard

  • blockchain
  • cryptocurrency
  • digital payment
  • fintech
  • uk
  • regulatory
  • financial institutions
  • fca
  • regulatory framework
  • the financial conduct authority

The FCA/FOS Consultation – “Modernising the Redress System” A Chance for Reform?

At a Glance  On 15 November 2024, the FCA and FOS jointly published a call for input as to how the FOS might improve its redress framework (the CFI). The FCA and FOS consider the current redress…

Author(s): Christopher Robinson, Jack Helyar, Sharon Tong

  • financial institutions
  • regulatory
  • financial services
  • regulatory framework
  • the financial conduct authority

Your 3-month trial: Consultation on new UK rules for consumer subscriptions

For the next three months, the UK Government will consult on new rules for consumer subscription contracts, which are due to come into force in 2026 (see here). Addressing both cost-of-living issues…

Author(s): Daniel Wylde, Andrew Austin, Rikki Haria, Morag Elwis, Kate Collister

  • consumer
  • e-commerce
  • investigations
  • media
  • platforms
  • regulatory
  • regulatory framework
  • retail and consumer goods
  • social media
  • tech media and telecoms

Government set to bring Buy-Now, Pay-Later firms under FCA regulation

On 17 October 2024, HM Treasury launched its third consultation on the proposed regulation of Buy-Now, Pay-Later (BNPL) credit agreements, alongside the draft statutory instrument which will bring…

Author(s): Cyrus Pocha, Christine Simpson, Christopher Bernard, Curran Snell

  • fintech
  • uk
  • fca
  • financial services
  • regulatory framework

UK announces data reforms: what businesses need to know

On 23 October 2024 the UK government introduced the Data (Use and Access) Bill to Parliament (the DUAB). The DUAB is a wide-ranging and significant reform package with implications for all businesses…

Author(s): Giles Pratt, Rachael Annear, Tristan Lockwood, Adam Gillert

  • ai
  • data
  • data protection
  • e-commerce
  • europe
  • gdpr
  • ico
  • internet of things
  • platforms
  • regulatory
  • regulatory framework
  • tech media and telecoms
  • onlinesafety

Leading the Change: 2025 Data Law Trends report

We’re excited to share our latest report, Leading the Change: 2025 Data Law Trends.  Data now impacts all aspects of businesses, from risk management and global operations to growth strategies. The…

Author(s): Christine Lyon, Giles Pratt, Christoph Werkmeister

  • data protection
  • cybersecurity
  • financial services
  • tmt
  • regulatory framework
  • compliance

Out of the shadows: the growing regulatory spotlight on private capital

In recent months, there has been significant media coverage on the growing regulatory scrutiny of the private capital sector. In this podcast, our team of senior lawyers from across the global…

Author(s): Matthew O'Callaghan, Nariné Atamian, Theresa Kreft, Greg King, Rania Kim

  • asia-pacific
  • europe
  • private capital
  • regulatory
  • uk
  • us
  • regulatory framework

The worldwide focus on operational resilience in financial services: what firms and service providers need to know

Regulators around the world have long been concerned about the operational resilience of banks and other financial institutions, and the impact that cybersecurity incidents and other operational…

Author(s): Claire Harrop, Matthew O'Callaghan, Nariné Atamian, Daphne van der Houwen, Christopher Bernard

  • asia-pacific
  • europe
  • financial institutions
  • regulatory
  • uk
  • us
  • financial services
  • regulatory framework

Consumers at the core of the new European Commission mandate: paving the way for a new ‘Digital Fairness Act’

On 3 October the European Commission published its long-awaited Digital Fairness Fitness Check report (see link here).  Based on the findings, the new Commission which is due to take office by the…

Author(s): Natalie Pettinger Kearney, Jimena Gonzalez, Christoph Werkmeister, Lutz Riede, Mark Egeler

  • 2024 elections
  • consumer
  • e-commerce
  • eu digital markets act
  • eu digital services act
  • eu digital strategy
  • europe
  • platforms
  • regulatory
  • regulatory framework
  • retail
  • retail and consumer goods
  • social media
  • tech media and telecoms

Next steps for UK product regulation – the new Product Regulation and Metrology Bill

The OPSS (Office for Product Safety and Standards - the UK’s product safety regulator) proposed an overhaul of the UK’s current product safety regime under the previous Government with the Product…

Author(s): Harriet Hanks, Andrew Austin, Ananya Maheshwari

  • brexit
  • consumer
  • consumer protection
  • product liability
  • tech media and telecoms
  • regulatory framework

EU Commission publishes practical guide on an evolving EU digital economy

Aiming to encourage voluntary data sharing for business and citizen benefits through secure and trustworthy exchanges, the Data Governance Act (DGA) is a core part of the European data strategy. The…

Author(s): Gernot Fritz, Estella Dannhausen, Markus Kattnig

  • data
  • e-commerce
  • eu data act
  • eu data governance act
  • eu digital strategy
  • europe
  • european data spaces
  • global
  • platforms
  • regulatory
  • regulatory framework
  • tech media and telecoms

SEC Approves New Quality Control Standard for Public Company Accounting Firms

On September 9, 2024 the SEC adopted Public Company Accounting Oversight Board (PCAOB) rules that establish new quality control requirements for public companies accounting firms (PCAFs). The new…

Author(s): Pamela Marcogliese, Jeremy Barr, Ariana Negron

  • capital markets and securities
  • regulatory framework
  • corporate governance

FCA's further report on de-banking focuses on the Consumer Duty

The FCA has published its follow-up report on “UK Payment Accounts Access and Closures: Update” (the Update Report). In its last report, which we mentioned in our previous article on de-banking, the…

Author(s): Sharon Tong, Anthea Bowater

  • fca
  • financial institutions
  • uk
  • financial services
  • regulatory framework
  • the financial conduct authority

Business Judgement Rule Decisions – A How-To Guide

In today’s dynamic business environment, decision-making frequently entails venturing into unknown territory. It is often challenging to accurately foresee which among various possible actions will…

Author(s): Moritz Pellmann, Nicholas Schoch, Anna Eichner, Anna Köhler, Dawid Ligocki

  • corporate governance
  • investigations
  • regulatory
  • governance
  • investigations and enforcement
  • regulatory framework

Stop that payment! FCA guidance on delaying payments suspected to be APP fraud

On 9 September 2024, the FCA launched a Consultation in which it proposes changes to its guidance to payment service providers (PSPs). The changes are intended to reflect the Treasury’s draft…

Author(s): Emma Probyn, Christine Simpson, Christopher Chan, Abisha Bastian

  • fca
  • financial institutions
  • regulatory
  • uk
  • financial services
  • regulatory framework
  • the financial conduct authority

Key insights for businesses from the EU Commission’s FAQ on the EU Data Act

To aid in its implementation, the European Commission has published frequently asked questions on the EU Data Act. Check out our earlier blog post for a quick rundown of the EU Data Act.  Reflecting…

Author(s): Gernot Fritz, Estella Dannhausen

  • consumer
  • data
  • data protection
  • eu data act
  • europe
  • internet of things
  • manufacturing
  • regulatory
  • regulatory framework
  • tech media and telecoms
  • eu digital strategy

Herding cats: English law and Decentralised Autonomous Organisations

Background On 11 July 2024, the Law Commission published a scoping paper (the Scoping Paper) on Decentralised Autonomous Organisations (DAOs) setting out preliminary considerations about how these…

Author(s): Claire Harrop, Christopher Bernard, Joana Fragata

  • fintech
  • blockchain
  • financial institutions
  • uk
  • fca
  • regulatory framework
  • financial services
  • innovation

FCA publishes final rules on bundling payments for investment research and execution

On 26 July 2024, the Financial Conduct Authority (FCA) published its policy statement on payment optionality for investment research (PS24/9) (the Policy Statement). This reintroduces the option to…

Author(s): James Smethurst, Borja Ruiz De Gopegui, Christopher Bernard, Cameron MacDonald

  • regulatory
  • uk
  • fca
  • financial services
  • regulatory framework

DOJ Unveils the Corporate Whistleblower Awards Pilot Program

Earlier this month, the US Department of Justice (DOJ) officially launched its new three-year Corporate Whistleblower Awards Pilot Program (Pilot Program). The focus of the Pilot Program is to…

Author(s): Adam Siegel, Eric Bruce, Timothy Howard, Jennifer Loeb, Daniel Cendan, Kimberly Zelnick, Alessandra Scalise, Aedan Collins, Young Park, Connor Lang

  • whistleblowing
  • white-collar defense
  • regulatory framework
  • investigations
  • financial institutions

The new European AML package - a comprehensive overview

Few areas of regulatory law are evolving as rapidly as European money laundering law. Over the past few years these requirements have become increasingly complex and detailed. In July 2024, the…

Author(s): Jan Struckmann, Alicia Hildner, Janina Heinz

  • financial crime
  • financial services
  • investigations and enforcement
  • regulatory framework

POP’ing it like the FCA

The FCA recently published a consultation paper (CP24/13) setting out its proposed rules for the new public offer platform (POP) regime. As explained in our previous blog, the Public Offers and…

Author(s): Chris Ranson, Richard Ho, Tom Godwin, Claire Harrop, Christopher Bernard, Jennifer McCarthy

  • ecm
  • financial institutions
  • financing and capital markets
  • regulatory
  • uk
  • financial services
  • regulatory framework

Strategic risk spotlight on EU-China investigations: How to reconcile EU investigations with Chinese law in light of recent EU General Court order

In an order dated 12 August 2024, the General Court of the European Union (‘General Court’) dismissed an application for interim measures brought by two EU subsidiaries of a Hong Kong-based security…

Author(s): Moritz Pellmann, Xin Liu, Nicholas Schoch, Pauline Peng, Camillo von Haugwitz

  • investigations
  • corporate governance
  • governance
  • investigations and enforcement
  • regulatory framework

UK regulators keen to understand the future of digital wallets

On 15 July 2024, the Financial Conduct Authority (FCA) and the Payment Services Regulator (PSR) published a call for information (CFI) on BigTech and digital wallets, which runs until 13 September…

Author(s): Claire Harrop, Noah Schmidt, Christopher Bernard, Rhea Dennis

  • financial institutions
  • fintech
  • regulatory
  • fca
  • uk
  • regulatory framework
  • digitalwallet
  • digital payment
  • e-commerce
  • financial services

Law Commission publishes Draft Bill on digital assets as personal property

On 30 July 2024 the Law Commission of England and Wales published a supplemental report and amended draft bill which would introduce a new category of personal property for digital assets. This is…

Author(s): Emma Probyn, Claire Harrop, Christine Simpson, Georgia Onslow

  • cryptocurrency
  • fintech
  • regulatory
  • regulatory framework
  • financial services

One year of the FCA’s UK Consumer Duty - The regulator takes stock

Over the past several years, a major focus for UK authorised firms and the Financial Conduct Authority (FCA) alike has been the implementation of the Consumer Duty (the Duty). To mark one year since…

Author(s): Michael Raffan, Elisabeth Overland, Christopher Bernard, Fran Kaehr

  • consumer protection
  • fca
  • financial institutions
  • regulatory
  • uk
  • financial services
  • regulatory framework

Changes to the UK Stewardship Code seek to ease the burdens on signatories and support the growth of UK capital markets

On 22 July 2024, the Financial Reporting Council (FRC) announced several immediate revisions to the UK Stewardship Code 2020 in order to reduce reporting burdens on existing signatories. It also set…

Author(s): Elisabeth Overland, Christopher Bernard, Yashi Chandra

  • financial institutions
  • regulatory
  • uk
  • financial services
  • sustainability
  • investment funds and managers
  • governance
  • regulatory framework

The EBA publishes the report on the application of gender-neutral remuneration policies by institutions and investment firms

The recent EBA report provides a comprehensive overview of the implementation and effectiveness of gender-neutral remuneration policies in financial institutions and investment firms. While the…

Author(s): Mara Ruberto

  • employment
  • financial services
  • regulatory framework

Data Centre Investments

In recent years, the global investment landscape for data centres has reached record-breaking levels, with the market being largely dominated by US-based players, particularly private equity firms.…

Author(s): Alexander Watt, Pascal Cuche, Nicola Franceschina, José Armando Albarrán, Felix Neuwirther, Frédéric Elens, Niko Schultz-Süchting, Jan Matauschek

  • europe
  • global
  • infrastructure and transport
  • private capital
  • real estate
  • regulatory framework
  • esg and sustainability

New Government, same special resolution enhancements – Bank Resolution (Recapitalisation) Bill introduced in Parliament

We have previously written about HM Treasury’s January 2024 consultation on “Enhancing the UK special resolution regime”, which proposed a new mechanism allowing the Bank of England (the Bank) to…

Author(s): Michael Raffan, Fran Kaehr, Tey Khoo

  • financial institutions
  • regulatory
  • uk
  • regulatory framework
  • financial services

EU Elections Unpacked: Ursula von der Leyen re-elected for second term

Germany's Ursula von der Leyen has been elected President of the European Commission for a second mandate, with 401 votes in favour, 284 against and 15 abstentions, with 7 void votes. She received 40…

Author(s): Kieran Watkins, Natalie Pettinger Kearney, Lea Bareil

  • 2024 elections
  • financial services
  • governance
  • investment trading and markets
  • regulatory framework
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