With the litigation finance industry continuing to experience high levels of growth, industry leaders are now able to see how this once niche sector has evolved into the thriving market it is today. The founders of one such well-established funder,
Financial
Reducing Socioeconomic Bias in the UK Financial Services Sector: Emerging Best Practice
The Financial Services Skills Commission has issued an insight paper outlining how companies can collect and evaluate data on employees’ socioeconomic backgrounds.
By David Berman, Nicola Higgs, Rob Moulton, and Dianne Bell
Socioeconomic backgrounds of employees and…
Stress testing the UK banking system: key elements of the 2022 annual cyclical scenario
On 26 September 2022, the Bank of England announced that it was returning to the annual cyclical scenario stress-test framework. The stress test will test the resilience of the UK banking system to deep simultaneous recessions in the UK and…
PRA Policy Statement 8/22 ‘Definition of capital: Updates to PRA rules and supervisory expectations’
On 26 September 2022, the PRA published Policy Statement 8/22 ‘Definition of capital: Updates to PRA rules and supervisory expectations’ (PS8/22).
In PS8/22 the PRA provides feedback and final policy following Consultation Paper 2/22 ‘Definition of capital: updates to PRA…
DRFC publishes response to call for input submissions on the algorithmic processing work stream
On 23 September 2022, the Digital Regulation Cooperation Forum (DRCF) published stakeholder views submitted in response to two discussion papers that it published in April 2022 related to algorithmic auditing.
One of the papers looked at the specific harms and…
Opinion of the ECB on a proposal for a regulation amending the Central Securities Depositories Regulation
On 26 September 2022, the European Central Bank (ECB) published an opinion on a proposal for a Regulation amending the Central Securities Depositories Regulation. In addition to welcoming the proposed Regulation and setting out certain general observations, the opinion also…
ICMA publishes updated version of its SFTR reporting recommendations
On 23 September 2022, the International Capital Market Association (ICMA) published an updated version of its detailed recommendations for reporting under SFTR. The updated guidance includes six new questions and numerous further updates, reflecting new insights as well as additional…
ESMA responds to the Commission regarding recent developments in the energy derivatives market
On 22 September 2022, the European Securities and Markets Authority (ESMA) submitted its response to the European Commission regarding the current level of margins and of excessive volatility in energy derivatives markets. The letter comes in response to the formal…
ESMA updates Q&As on MiFID II and MiFIR market structure topics
On 23 September 2022, the European Securities and Markets Authority (ESMA) updated their Q&As on MiFID II and MiFIR market structure topics.
The question and answer for question 35 under Direct Electronic Access and algorithmic trading has been updated:
Can…
Global regulation and conduct series – Rising cost of living, vulnerable customers and consumer duty
In the first in our global series of regulatory podcasts focussing on conduct issues, financial services partners from Australia, United Kingdom and the United States cover the rising cost of living, vulnerable customers and consumer duty.