The recording from our Regulatory Compliance Consulting webinar on cyber resilience is now available here. In an increasingly complex landscape of cyber risks and issues, this webinar considers key areas of importance including: The evolving threat landscape – changes we are seeing in terms of cyber-attacks and hot topics, including sectors and firms currently in focus The changing regulatory landscape – how regulatory responses are increasing in depth and detail Achieving resilience – including…

Financial services: Regulation tomorrow

Seminar: Retiring LIBOR – Fact or fiction?

By Hannah Meakin (UK) & Davide Barzilai (UK) on August 16, 2019

On 27 September 2019 we will be holding a breakfast briefing that will provide insight to the progression of benchmark rate reform, and provide attendees with the opportunity to ask questions and engage in discussion regarding the key issues facing anyone involved in the financial markets. Further information can be found here.…

Financial services: Regulation tomorrow

FCA protocols for independent reviews of regulatory action concerning IRHP and Connaught

By Matthew Gregory (UK) on August 15, 2019

On 14 August 2019, the FCA published two protocols in relation to lessons learned reviews commissioned by the non-executive directors of the FCA following the appointments of John Swift QC and Raj Parker as independent reviewers for the Interest Rate Hedging Products (IRHPs) review and the Connaught Income Fund Series 1 review respectively in June 2019. The documents are as follows: Protocol for the review on the redress scheme for IRHPs; and Protocol for the…

Financial services: Regulation tomorrow

ECB advises banks to ramp up no-deal preparations

By Simon Lovegrove (UK) on August 15, 2019

On 14 August 2019, the European Central Bank (ECB) published an article on its website calling on banks to step up their preparations for a no-deal Brexit at the end of October 2019. The ECB asserts that banks have transferred significantly fewer activities, critical functions and staff to euro area entities than originally foreseen as part of their plans for Brexit. It expects banks to speed up the implementation of their plans to minimise execution…

Financial services: Regulation tomorrow

London 40 minute briefing series – new dates for September to November

By Jonathan Herbst (UK), Hannah Meakin (UK) & Imogen Garner (UK) on August 15, 2019

The Norton Rose Fulbright LLP financial services team invite you to their latest breakfast briefings. Our latest series of briefings cover some of the key regulatory developments facing financial services firms: 4 September 2019: The clock is ticking on SMCR compliance. In this practical workshop conducted under Chatham House rules the Norton Rose Fulbright SMCR implementation team look at some of the last minute thorny issues that FCA solo regulated firms are dealing with as…

Financial services: Regulation tomorrow

FCA agrees 18-month period for phased implementation of Strong Customer Authentication

By Albert Weatherill (UK) on August 14, 2019

On 13 August 2019, the FCA announced an 18 month plan to implement the Single Customer Authentication (SCA) rules under the revised Payment Services Directive (PSD2) for the e-commerce industry of card issuers, payments firms and online retailers. The announcement reflects the recent opinion of the European Banking Authority (our blog is here) which acknowledged that some firms not directly subject to the PSD2 (such as e-merchants) might not be ready for the SCA…

Financial services: Regulation tomorrow

European Commission agrees MOU with SRB

By Luke Rodgers on August 14, 2019

On 13 August 2019, the Single Resolution Board (SRB) published a memorandum of understanding (MOU) between itself and the European Commission in respect of co-operation and information exchange pursuant to the Single Resolution Mechanism Regulation (SRMR). The MOU aims to codify best practices and ensure that effective working arrangements are in place between the Commission and the SRB. Both parties are expected to review the MOU at least every five years.…

Financial services: Regulation tomorrow

FINRA (and selected SEC) regulatory matters at a glance: What compliance officers need to know

By Glen Barrentine (US) on August 14, 2019

Glen Barrentine, who recently joined as Of Counsel in the New York Office of Norton Rose Fulbright, has extensive experience in regulatory, compliance and enforcement issues affecting financial service companies, particularly broker-dealers, investment advisers, municipal advisors, and securities exchanges. He prepares a monthly update on FINRA (and selected SEC) regulatory matters at a glance, focusing on what compliance officers need to know. Access the July issue.…

Financial services: Regulation tomorrow

ISDA statement on pre-cessation issues

By Hannah Meakin (UK) & Catherine Blake (UK) on August 13, 2019

On 9 August 2019, the International Swaps and Derivatives Association (ISDA) published a statement summarising the preliminary results of its consultation on how derivatives contracts should address a regulatory announcement that LIBOR and certain other interbank offered rates (IBORs) are no longer representative of an underlying market. The pre-cessation trigger for LIBOR would apply in the event that the FCA assesses that one or more panels have shrunk so significantly in terms of number of…

Financial services: Regulation tomorrow

Tracks financial services regulatory developments and provides insight and commentary

Blog Authors

United States imposes additional sanctions involving Russia and Venezuela

Cyber resilience: Addressing the threats

Seminar: Retiring LIBOR – Fact or fiction?

FCA protocols for independent reviews of regulatory action concerning IRHP and Connaught

ECB advises banks to ramp up no-deal preparations

London 40 minute briefing series – new dates for September to November

FCA agrees 18-month period for phased implementation of Strong Customer Authentication

European Commission agrees MOU with SRB

FINRA (and selected SEC) regulatory matters at a glance: What compliance officers need to know

ISDA statement on pre-cessation issues

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