On 10 May 2022, the European Commission launched a public consultation to gather evidence for the revised Payment Services Directive (PSD2) review and to inform its work on open finance. The Commission is seeking to identify whether the PSD2 has
Financial services: Regulation tomorrow
Tracks financial services regulatory developments and provides insight and commentary
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FMSB changes its name
On 9 May 2022, the FMSB announced that it was changing its name from FICC Markets Standards Board to Financial Markets Standards Board.
Financial Services monthly wrap-up: April 2022
The month of April saw the release of the ASX’s consultation paper ‘Enhancing the ASX Investment Products Offering’, as well as the publication by APRA and ASIC of the latest data pertaining to claims and disputes outcomes for life insurance.…
L’eau ne coule pas sous les ponts : 11 ans après les faits, le Conseil des sanctions de la Banque mondiale radie un directeur général pour corruption (décision n° 136)
Le 22 février 2022, le Conseil des sanctions du Groupe de la Banque mondiale (« GBM ») a rendu sa décision n° 136 en imposant une radiation de deux ans à un directeur général pour corruption et pratiques frauduleuses. Cette décision est importante à trois…
The past is not the past: World Bank Sanctions Board debars MD for corruption 11 years later (Decision No. 136)
On February 22, 2022, the World Bank Group (WBG) Sanctions Board issued its decision no. 136, imposing a two-year debarment on a managing director for corrupt and fraudulent practices. The decision is significant for three reasons: (1) it was rendered…
Kyla Shipping v Freight Trading [2022] EWHC 376 (Comm): litigation privilege and investigations by a third party expert
The recent case of Kyla Shipping grappled with the question of whether, in the circumstances, litigation privilege applied to investigations by a third party expert. The Commercial Court ultimately upheld a challenge to the claimants’ assertion of litigation privilege over…
The Economic Crime (Transparency and Enforcement) Act 2022 (Commencement No. 1) Regulations 2022
On 9 May 2022, there was published on the legislation.gov.uk website The Economic Crime (Transparency and Enforcement) Act 2022 (Commencement No. 1) Regulations 2022. These Regulations bring into force on 15 May 2022 amendments to the Proceeds of Crime…
The Financial Guidance and Claims Act 2018 (Commencement No. 9) Regulations 2022
On 6 May 2022, there was published on the legislation.gov.uk website The Financial Guidance and Claims Act 2018 (Commencement No. 9) Regulations 2022. These Regulations are the ninth commencement regulations made under the Financial Guidance and Claims Act 2018.…
Blog: FCA review finds Challenger Banks need to enhance financial crime controls
The FCA has recently conducted a review of financial crime controls at a sample of six challenger banks in order to identify the key financial crime risks to which such banks are exposed. The review was prompted by a substantial…
Monthly Global FinTech regulatory updater
Every month we provide the Global Blockchain Business Council’s Post-Trade Distributed Ledger group with a global regulatory FinTech updater, the latest version of which can be found here.
Post Trade Distributed Ledger (PTDL) Group is composed of over 40…