Section 3(1)(a) of the Institution of Legal Proceedings against Certain Organs of State Act of 2002 stipulates that anyone who wishes to institute legal proceedings for the recovery of a debt against an organ of state must give notice of
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PSR consults on the FPS APP scams reimbursement requirement: compliance and monitoring
On 17 April 2024, the Payment Systems Regulator (PSR) published Consultation Paper CP24/3 on the Faster Payments System (FPS) authorised push payments (APP) scams reimbursement requirement: compliance and monitoring.
Background
The PSR published Policy Statement PS23/3 and PS23/4 in 2023,…
New podcast – Regulation Tomorrow Plus: FCA CP23/24 on capital deduction for redress for personal investment firms
In our latest podcast, Partner Matthew Gregory is joined by Senior Associate Joe Bamford, both of whom specialise in retail conduct, to discuss the FCA’s consultation (CP23/24) on changes to the capital requirements for personal investment firms, with particular focus…
FSB consults on liquidity preparedness for margin and collateral calls
On 17 April 2024, the Financial Stability Board (FSB) published a consultation report that sets out policy recommendations to enhance the liquidity preparedness of non-bank market participants for margin and collateral calls in centrally and non-centrally cleared derivatives and securities…
FCA publishes new webpage on asset management: common errors when applying for authorisation
On 16 April 2024, the Financial Conduct Authority (FCA) published a new webpage on common errors made by firms when applying for authorisation to operate in the asset management sector. The webpage outlines common issues with recent applications, and states…
Tracking regulatory developments in Thailand
The Ministry of Commerce of Thailand has launched a public hearing in relation to draft ministerial regulations (the Draft Regulations) specifying business activities which will be exempt from the requirement to obtain a Foreign Business License (FBL) under Thailand’s Foreign…
Pharmacare Update: Budget 2024
Basel Committee Discussion Paper on the role of CSA
On 16 April 2024, the Basel Committee on Banking Supervision (Basel Committee) issued a Discussion Paper on how climate scenario analysis (CSA) can be practically used to help strengthen the management and supervision of climate related financial risks. The Discussion…
ESRB report on operational policy tools for cyber resilience
On 16 April 2024, the European Systemic Risk Board (ESRB) published a report on operational policy tools for cyber resilience.
The report builds on the ESRB’s extensive work on how to mitigate risks from a systemic cyber incident. This includes…
Apple introduces “Privacy Manifests” for new and updated apps
Apple recently announced that beginning in spring 2024, developers of certain SDKs and apps that use those SDKs will be required to include a “Privacy Manifest,” which lists all tracking domains used in the relevant SDK or app. To determine…