Regulatory updates

Lawyers Covered - November 2021

30 November 2021

Welcome to the latest edition of our Lawyers Liability & Regulatory Update, in which we look back over the last month at key developments affecting lawyers and the professional risks they face.

FCA's Perimeter Report – observations for the insurance market

Published on 15 November 2021. By Jonathan Charwat, Partner

In late October, the FCA published this year's version of its Perimeter Report. The Perimeter Report is intended to clarify some of the complexities about what the FCA does and does not regulate. It also sets out some areas where the FCA sees potential for customer harm.

Regulatory Initiative Grid sets out multi-regulator pipeline of planned/ongoing regulatory initiatives in the financial services market

Published on 04 November 2021. By Jon Bartley, Partner and Jonathan Charwat, Partner and Whitney Simpson, Of Counsel

At the beginning of the week, a number of UK regulators published this year's version of the 'Regulatory Initiatives Grid' which aims to provide a combined pipeline from a number of regulators on ongoing and planned regulatory initiatives affecting the financial services market. Regulators involved include, amongst others, the Financial Conduct Authority, Prudential Regulation Authority, Payments Systems Regulator and Information Commissioners Office.

Financial Crime Time - Your update from RPC: 2021 Q3

Published on 13 October 2021. By Adam Craggs, Partner and Michelle Sloane, Partner

Welcome to the latest edition of our round-up of news making the headlines in the world of financial crime and compliance. Our aim is to give you an easily digestible, bite-sized overview of issues that may affect your business.

Financial CrimeCast: Robert Skillington-Smith

Published on 03 August 2021. By Sam Tate, Partner

Welcome to Financial CrimeCast. In this series, the Centre for Legal Leadership, supported by RPC, talks to leaders in the field of financial crime, compliance and ethics. Guests discuss their career journey, what they have learnt along the way and the financial crime issues they see on the horizon.

Financial Crime Time – Your Update from RPC: 2021 Q2

Published on 06 July 2021. By Adam Craggs, Partner and Michelle Sloane, Partner

Welcome to the latest edition of our round-up of news making the headlines in the world of financial crime and compliance. Our aim is to give you an easily digestible, bite-sized overview of issues that may affect your business.

Lawyers Covered - June 2021

30 June 2021

Welcome to the latest edition of our Lawyers Liability & Regulatory Update, in which we look back over the last month at key developments affecting lawyers and the professional risks they face.

Financial CrimeCast: James Walker

Published on 17 May 2021. By Sam Tate, Partner

Welcome to Financial CrimeCast. In this series, the Centre for Legal Leadership, supported by RPC, talks to leaders in the field of financial crime, compliance and ethics. Guests discuss their career journey, what they have learnt along the way and the financial crime issues they see on the horizon.

Life sciences roundup

15 April 2021

Welcome to the spring quarterly roundup of regulatory developments in the life sciences sector affecting healthcare institutions - providing bite-size updates from around the industry.

Financial Crime Time – Your Update from RPC: 2021 Q1

Published on 12 April 2021. By Adam Craggs, Partner and Michelle Sloane, Partner

Welcome to the latest edition of our round-up of news making the headlines in the world of financial crime and compliance. Our aim is to give you an easily digestible, bite-sized overview of issues that may affect your business.

Financial CrimeCast: Osama Al Jayousi

Published on 06 April 2021. By Sam Tate, Partner

Welcome to Financial CrimeCast. In this series, the Centre for Legal Leadership, supported by RPC, talks to leaders in the field of financial crime, compliance and ethics. Guests discuss their career journey, what they have learnt along the way and the financial crime issues they see on the horizon.

Regulatory update - March 2021

Published on 22 March 2021. By Gavin Reese, Partner, Head of Regulatory

Welcome to the March edition of the Regulatory update, which pulls together recent developments from across the UK’s regulators – to help you navigate the regulatory maze.

Financial CrimeCast: Sue Scott

Published on 19 March 2021. By Sam Tate, Partner

Welcome to Financial CrimeCast. In this series, the Centre for Legal Leadership, supported by RPC, talks to leaders in the field of financial crime, compliance and ethics. Guests discuss their career journey, what they have learnt along the way and the financial crime issues they see on the horizon.

Sanctions – A New World?

Published on 26 February 2021. By Harry Smith, Senior Associate

The new UK sanctions regime (SAMLA) replaces EU sanctions in the UK, and sits alongside UN sanctions and US sanctions as a factor for businesses to consider in planning their anti-corruption and compliance matters. In particular it can impose trade sanctions, travel sanctions and financial sanctions, with tough financial penalties for non-compliance.

Financial CrimeCast: Sarah Pritchard

Published on 19 February 2021. By Sam Tate, Partner

Welcome to Financial CrimeCast. In this series, the Centre for Legal Leadership, supported by RPC, talks to leaders in the field of financial crime, compliance and ethics. Guests discuss their career journey, what they have learnt along the way and the financial crime issues they see on the horizon.

Part 2: Top 5 corporate crime compliance trends for the year ahead

26 January 2021

As we commence a new year in the midst of unprecedented global challenges, here is our take on the key financial crime risk and compliance trends you need to be aware of in 2021.

Part 1: Top 5 corporate crime enforcement trends for the year ahead

19 January 2021

As we commence a new year in the midst of unprecedented global challenges, here is our take on the key financial crime risks and trends you need to be aware of in 2021.

Financial CrimeCast: Fidelis Omozuapo

Published on 19 January 2021. By Sam Tate, Partner

Welcome to Financial CrimeCast. In this series, the Centre for Legal Leadership, supported by RPC, talks to leaders in the field of financial crime, compliance and ethics. Guests discuss their career journey, what they have learnt along the way and the financial crime issues they see on the horizon.

Regulatory update - December 2020

17 December 2020

Welcome to the December edition of the Regulatory update, which pulls together recent developments from across the UK’s regulators – to help you navigate the regulatory maze.

Financial CrimeCast: Lucille Dolor

14 December 2020

Welcome to Financial CrimeCast. In this series, the Centre for Legal Leadership, supported by RPC, talks to leaders in the field of financial crime, compliance and ethics. Guests discuss their career journey, what they have learnt along the way and the financial crime issues they see on the horizon.

Financial CrimeCast: Andy McClarron

03 December 2020

Welcome to Financial CrimeCast. In this series, the Centre for Legal Leadership, supported by RPC, talks to leaders in the field of financial crime, compliance and ethics. Guests discuss their career journey, what they have learnt along the way and the financial crime issues they see on the horizon.

Financial CrimeCast: Amanda Pinto QC

Published on 26 November 2020. By Sam Tate, Partner

Welcome to Financial CrimeCast. In this series, the Centre for Legal Leadership, supported by RPC, talks to leaders in the field of financial crime, compliance and ethics. Guests discuss their career journey, what they have learnt along the way and the financial crime issues they see on the horizon.

Is the current law on corporate criminal liability about to get more teeth?

05 November 2020

On 3rd November 2020, the Government published its long-awaited response to its January 2017 call for evidence on the question of reforming the law on corporate liability for economic crime. The Government found the evidence inconclusive overall, so it has asked the Law Commission to draft an Options Paper, to assess how effective the current law is relating to corporate criminal liability and where improvements can be made.

New SFO guide to DPAs: material change, or confirmation of approach?

Published on 28 October 2020. By Sam Tate, Partner and Lucy Kerr, Senior Associate

Last week, the Serious Fraud Office (SFO) published a comprehensive guide to its approach to Deferred Prosecution Agreements (DPAs).

Regulatory update - October 2020

Published on 22 October 2020. By Gavin Reese, Partner, Head of Regulatory

Welcome to the October edition of the Regulatory update, which pulls together recent developments from across the UK’s regulators – to help you navigate the regulatory maze.

UKCA Marking: Updated Guidance

Published on 16 September 2020. By Gavin Reese, Partner, Head of Regulatory and Elinor Sidwell, Associate

As the end of the Brexit implementation period draws closer, the UK Government has sought to clarify the changes that will follow. On 1 September 2020 they published the long-awaited guidance on the use of UKCA marking following the withdrawal of the previously issued advice earlier this year.

Regulatory update - August 2020

Published on 21 August 2020. By Gavin Reese, Partner, Head of Regulatory

Welcome to the August edition of the Regulatory update, which pulls together recent developments from across the UK’s regulators – to help you navigate the regulatory maze.

Reform of audit industry: it's time to split

Published on 28 July 2020. By Davina Given, Partner

Audit has been the subject of intense scrutiny over the past few years in the wake of a series of high-profile business collapses such as Carillion, Patisserie Valerie and Thomas Cook in the UK and, more recently, Wirecard in Germany, and there is no shortage of calls for reform of the audit industry.

Medical Devices Regulation on the horizon

09 July 2020

The EU Regulation on Medical Devices 2017/745 (the MDR) had been due to become fully applicable on 26 May 2020.

Audit market: From recommendations to reforms

Published on 09 July 2020. By Davina Given, Partner

The Brydon Report on audit quality and effectiveness was released on 18 December 2019. The Report sets out recommendations for “urgent reform” in order to increase public confidence and seek to prevent unnecessary corporate failures.

SMCR: The tricky implementation phase

Published on 09 July 2020. By Lucy Kerr, Senior Associate

The Senior Managers and Certification Regime (SMCR) came into force for all financial services firms solo-regulated by the Financial Conduct Authority (FCA) on 9 December 2019. The SMCR replaces the previous APER regime under which the FCA had oversight of the individuals working in the financial services industry. There is a one year implementation period for firms to make the changes required by the SMCR, which expires on 9 December 2020.

Regulatory Radar 2020/21

09 July 2020

Welcome to the 2020/21 edition of RPC’s annual Regulatory Radar – a guide to the key regulatory changes worth having on your radar. We hope this will be a useful resource, helping you scan the regulatory horizon and highlight changes that could impact your business.

Regulatory update - June 2020

Published on 26 June 2020. By Gavin Reese, Partner, Head of Regulatory

Welcome to the June edition of our monthly Regulatory Update, which aims to pull together key developments from the past month across the various UK regulators – and help you to navigate the regulatory maze.

COVID-19: The Dairy Sector and Welsh health services granted temporary UK competition law exemptions and the European Commission issues first 'Comfort Letter' to Pharmaceutical Manufacturers

Published on 01 June 2020. By Melanie Musgrave, Of Counsel

The UK Government has granted a temporary competition law exemption for certain collaboration within the dairy sector and Welsh health services and the European Commission has published its first 'comfort letter' to allow co-operation to ensure supplies of medicines for COVID-19 patients.

Regulated Activities Order amendments for the new Bounce Back Loan Scheme

Published on 05 May 2020.

On 1 May 2020, the Financial Services and Markets Act 2000 (Regulated Activities) (Coronavirus) (Amendment) Order 2020 was published and came into force on 4 May 2020.

Regulatory Roundup Q1 2020

Published on 30 April 2020. By Gavin Reese, Partner, Head of Regulatory

Welcome to the Spring edition of the Regulatory Roundup, which aims to pull together the key developments across regulatory regimes – and help you to navigate the maze.

COVID-19: What is the CMA's current approach to UK merger assessment?

Published on 29 April 2020. By Melanie Musgrave, Of Counsel

The CMA has been adapting its working practices to react to the ongoing challenges of a change in working environment that has an impact on almost all businesses.

COVID-19: Coronavirus and Competition Law - The Current Enforcement Scene

Published on 06 April 2020. By Melanie Musgrave, Of Counsel

COVID-19: CMA provides guidance to business on its approach to co-operation in response to the pandemic

Published on 01 April 2020. By Melanie Musgrave, Of Counsel

Businesses, which do not benefit from the specific competition law exemptions granted by the Secretary of State (in the groceries, Solent Ferries and healthcare services sectors), may co-operate without fear of enforcement action by the Competition and Markets Authority (the "CMA"), provided that this co-operation is undertaken "solely to address concerns arising from the current crisis and does not go further or last longer than what is necessary".

Key regulatory guidance following COVID-19 pandemic

Published on 27 March 2020. By Gavin Reese, Partner, Head of Regulatory

As the world tackles the COVID-19 pandemic, the UK’s Regulators have published a host of useful guidance that firms should take good note of during this period of uncertainty. While not an exhaustive list, we hope this summary highlights the key obligations and requirements currently being brought in by the Regulators.

Regulatory update - March 2020

Published on 27 March 2020. By Gavin Reese, Partner, Head of Regulatory

Welcome to the March edition of our monthly Regulatory Update, which aims to pull together key developments from the past month across the various UK regulators – and help you to navigate the regulatory maze.

Regulatory update - February 2020

13 February 2020

Welcome to the February edition of our monthly Regulatory Update, which aims to pull together key developments from the past month across the various UK regulators – and help you to navigate the regulatory maze.

Regulatory update - January 2020

15 January 2020

Welcome to the January edition of our monthly Regulatory Update, which aims to pull together key developments from the past month across the various UK regulators – and help you to navigate the regulatory maze.

Regulatory update - December 2019

11 December 2019

Welcome to the December edition of our monthly Regulatory Update, which aims to pull together key developments from the past month across the various UK regulators – and help you to navigate the regulatory maze.

Regulatory update - November 2019

11 November 2019

Welcome to the November edition of our monthly Regulatory Update, which aims to pull together key developments from the past month across the various UK regulators – and help you to navigate the regulatory maze.

Regulatory update - October 2019

Published on 10 October 2019. By Gavin Reese, Partner, Head of Regulatory

Welcome to the October edition of our monthly Regulatory update, which aims to pull together key developments from across the various UK regulators – and help you to navigate the regulatory maze.