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
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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…
BoE speech – ‘Modernising the trains and rails of UK payments’
On 15 April 2024, Sarah Breeden, Deputy Governor of Financial Stability at the Bank of England (BoE), delivered a speech explaining how the BoE seeks to deliver trust and support innovation, both as a provider and as a regulator of…
Grounds on which foreign judgments can be enforced in South Africa – Jones v Krok still applies?
In February 2024, the Supreme Court of Appeal, in Lindsey v Conteh, considered the enforceability of foreign judgments in South Africa. The appellants sought to enforce two writs, one for possession of shares and one for execution of the monetary…
Council of EU publishes text of daisy chain proposal
On 15 April 2024, the Council of the EU published the text of the proposed Directive amending the Bank Recovery and Resolution Directive and the Resolution establishing the Single Resolution Mechanism as regards certain aspects of the minimum requirement for…
Submission of annual financial statements and returns by Financial Services Providers
In case you as an FSP missed it, FSCA Communication 13 of 2024 (FAIS) updates FSPs on the manner and process for future submissions of annual financial statements and other statutory returns required under section 19 of the FAIS Act and other…