UK Regulation Round - Up : September 2024 Financial Updates
The UK Regulation Round Up for September 2024 highlights key developments in financial services regulation, including the implementation of the Digital Securities Sandbox by the Bank of England and the Financial Conduct Authority (FCA), and the European Banking Authority s (EBA) work programme for 2025. The European Securities and Markets Authority (ESMA) announced the selection of consolidated tape providers for bonds, shares, and exchange-traded funds. The FCA updated its webpage on the repeal and replacement of assimilated law, while the European Commission adopted a Delegated Regulation containing regulatory technical standards for handling complaints related to cryptoassets under MiCA. The FCA also published its regulation round-up for September, discussing topics such as AI in financial services, the UK listing regime, and enforcement. Other significant developments include the establishment of the Artificial Intelligence Consortium by the Bank of England, reforms to retail disclosure requirements, and the publication of a corrigendum to ELTIF 2.0. The FCA reviewed firms implementation of the Consumer Duty, and HM Treasury published statements on investment trust disclosure requirements. The Prudential Regulation Authority (PRA) proposed changes to the UK Capital Requirements Regulation and updated the UK policy framework for capital buffers. The PRA also published a policy statement on the implementation of Basel 3.1 standards. The European Commission released a report on the future of European competitiveness, and the FCA published a statement on temporary measures for firms on its naming and marketing sustainability rules. In summary, the UK Regulation Round Up for September 2024 covers a range of developments in financial services regulation, including digital securities, cryptoassets, AI, and capital requirements. These developments aim to enhance the stability, transparency, and efficiency of the financial system in the UK and the EU. <|end|>
Source: natlawreview.comPublished on 2024-10-07
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