In this Update, we consider some of the latest regulatory analysis on cryptoassets, as well as the impact of FinTech on the payments and e-money markets. We also give our market insight on trends, challenges and opportunities in the FinTech sector. If you would like to discuss any of the...

The Belgian Law of 1 February 2022 – which amends the Law of 18 September 2017 on the prevention of money laundering and terrorist financing and on the restriction of the use of cash, jointly with its implementing Royal Decree of 8 February 2022 – introduces new legal obligations for...

Online shopping now represents a significant part of the retail sector, meaning card payments are critical to many retailers' businesses. The UK Payment Systems Regulator (PSR) is consulting on ways to make the card-acquiring market work better for retailers (CP22/1 , January 2022). In particular, the regulator wants to find...

We look at recent developments in the UK of interest to the investment funds sector, from the government's "levelling up" white paper and the Financial Conduct Authority's (FCA) consultation on strengthening financial promotion rules for high-risk investments, including many types of investment fund, to the latest FCA guidance on appointing...

We take a look at the latest environmental, social and governance (ESG) developments, plus other updates from the UK and Europe, including new publications on the EU Sustainable Finance Disclosure Regulation (SFDR), a new edition of the UK Regulatory Initiatives Grid, and EU guidance on how to prepare an important...

Decentralised autonomous organisations (DAOs) are communities governed by rules that are encoded as a computer programme and maintained on the blockchain. When first conceived, it was hoped that, by removing the powers traditionally delegated to directors and placing these directly in the hands of owners, DAOs would resolve the principal-agent...

Outcome of HM Treasury consultation on changes to anti-money laundering rules | PSR sets out the details for its work on card fees | FCA consults on winding down synthetic sterling LIBOR and USD LIBOR

HMRC has published (24 November 2022) its long-awaited response to the consultation on the implementation of the Mandatory Disclosure Rules (MDR) in the UK. The consultation was launched in November 2021 and published alongside draft regulations. The rules are designed to combat tax evasion by requiring taxpayers and advisers –...

The aftermath of the collapse of crypto-exchange FTX has seen its auditors facing claims by at least one customer in the US, with more legal action expected to follow. As one US expert put it, " You can’t get blood from a turnip, but you can get money out of...

On 4 November 2022, the revised Financial Services and Markets Bill was published following the Public Bill Committee stage where a number of amendments were introduced. The bill represents a landmark in post-Brexit financial services legislation and much of its content – the approach to retained EU law, changes to...