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News & Insights

Regulators Continue to Underscore Culture

November 1st, 2016

Daily Issue Briefing Date:  Friday, October 21, 2016 Subject:  Regulators Continue to Underscore Culture Summary Analysis:  Echoing the sentiments of financial regulators in the United Kingdom, the Federal Reserve Bank of New York continues to emphasize the importance of good culture in banking. This week the regional Fed bank convened […]

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Global Banks Elevate Passporting Concerns Post-Brexit

September 12th, 2016

Summary Analysis:  With little progress made to flesh out the terms of Brexit in advance of formal negotiations, the banking community has begun to express concern. In particular, global banks have lobbied United Kingdom (UK) Prime Minister Theresa May to maintain financial passporting rights even after the completion of Brexit. […]

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FCA Whistleblower Cases Down 20% in 2015

September 12th, 2016

Summary Analysis:  New figures document a considerable drop in the number of whistleblower complaints from 2014 to 2015 in the United Kingdom (UK). International law firm Pinsent Masons reported that Financial Conduct Authority (FCA) whistleblower cases fell from 1,367 in 2014 to 1,104 in 2015, representing a reduction of nearly […]

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UK Government “Stands Ready to Help” Banking Sector

September 12th, 2016

Summary Analysis:  United Kingdom Chancellor of the Exchequer Phillip Hammond convened a meeting with chairmen from several of the region’s top banks, including Lloyds, RBS, Standard Life, Santander Aviva, Barclays and HSBC, in an attempt to quell concerns about the impact of Brexit.  Hammond sought to reassure members of the […]

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UK Attempts to Accommodate Fintech

September 12th, 2016

Recurring Theme:  Technology & Innovation Summary Analysis:  As fears of the impacts of Brexit on the United Kingdon’s financial services industry mount, the Bank of England has sought to accommodate and reassure its fintech providers.  Earlier this summer the central bank launched a FinTech Accelerator in an effort to include […]

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A Tale of Three Speeches – Understanding the FCA’s Post-Brexit Strategy

August 18th, 2016

Clues to the FCA’s regulatory approach post-Brexit Since the Brexit vote there has been much debate over the future direction of financial services regulation in the UK.  Will the UK strike out on its own, shaping an independent, perhaps more bank-friendly, regulatory environment, or will it stay in harmony with […]

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MAR – the new market soundings regime

July 5th, 2016

In our first update on MAR we highlighted the broadening of the scope of the Market Abuse rules that come into force on 3 July 2016.  We focused on how the new regime significantly extends the prohibition on abusive activity, capturing new instruments and behaviours. Our second update focused on […]

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With UK Preoccupied, CFTC Steps Up to Monitor Commodities

June 29th, 2016

United States (US) regulators are concerned that the frenzy created by Brexit will absorb increasing attention from United Kingdom (UK) and European Union (EU) regulators, so much so that market oversight might suffer. On June 27, 2016, the Commodity Futures Trading Commission (CFTC) convened a meeting of the Market Risk […]

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European Banks Lose Billions in Value after Brexit Results

June 24th, 2016

European Banks Lose Billions in Value after Brexit Results Summary Analysis:  European banks are already experiencing the impacts of the United Kingdom’s (UK) referendum to leave the European Union (EU).  Global markets have been down since the results of yesterday’s vote were released, with the British Pound falling to the […]

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MAR – the new suspicious activity reporting regime

June 24th, 2016

In our last update on MAR we highlighted the broadening of the scope of the Market Abuse rules that come into force on 3 July 2016. We focused on how the new regime significantly extends the prohibition on abusive activity, capturing new instruments and behaviours. In this update, we analyse […]

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FCA publishes observations on the effectiveness of firms’ surveillance operations under the Suspicious Transaction Reporting (STR) regime

May 9th, 2016

The FCA has released another issue (no. 50) of Market Watch, its newsletter on market conduct and transaction reporting issues. There is some prominent commentary on surveillance operations used by firms to identify potential incidents of market abuse.  The FCA has conducted a program of visits to firms over the last […]

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Changes to FCA and PRA Enforcement processes

April 22nd, 2016

Last week the FCA and PRA jointly released a consultation paper setting out proposed amendments to the Enforcement process.  These include significant changes aimed at improving the transparency of the decision-making process and also the subjects’ understanding of the matters investigated and the progress and direction of the investigation. These […]

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Download the 2017 Regulatory Highlights Report

Trends in Financial Regulation, Supervision, and Enforcement

Clutch tracks 2017’s key global developments across the financial services industry to identify legislative issues, regulatory initiatives, supervisory priorities and enforcement trends in the midst of an evolving economic and political landscape.

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