FinBrief

Financial futures: Disruption in global financial services

Financial services organisations across the globe are facing unprecedented levels of change and uncertainty. Amid this landscape, DLA Piper commissioned a global survey of c.800 major decision-makers in financial services organisations across the EMEA and APAC regions and North America to explore the impact this change is having on the sector.

Adjusting to a new normal - International Debt Finance Intelligence Report 2024

The latest version of our International Debt Finance Intelligence Report 2024 is now live.

Building on the success of our inaugural edition in 2023, our latest report has once again analysed the data captured from the deals we’ve closed, coupled with commentary from across our International Debt Finance team to produce a report that will be of benefit to lenders, borrowers and sponsors.

The New Anti-Money Laundering Rules: What You Need to Know

On 31 May 2024, the EU Legislature adopted Directive (EU) 2024/1640 (the Sixth Anti-Money Laundering Directive, AMLD6), Regulation (EU) 2024/1624 (the Anti-Money Laundering Regulation, AMLR), Regulation (EU) 2024/1620 (the AML Authority Regulation, AMLAR). 

Retail Disclosure Regime

The long-awaited Consumer Composite Investments (Designated Activities) Regulation 2024 entered into force on 22 November 2024 (the CCI Regulation).

New UK ESG Ratings Regulation

On 14 November 2024, HM Treasury published its response document and draft Statutory Instrument (Draft SI) confirming that providers of Environmental, Social and Governance (ESG) ratings will be brought within the scope of the UK regulatory perimeter.

New UK rules for critical third parties

The UK regulators confirmed their new rules for critical third parties (CTPs) on 12 November 2024. The new rules are intended to be closely aligned with international standards and similar regimes, including DORA.

Engaging vendors in the financial sector: EDPB clarifications mean more mapping and management

The European Data Protection Board (EDPB) adopted an opinion on 7 October 2024. It gives guidance for data controllers relying on processors (and sub-processors) under the GDPR.

FCA Payments and E-Money safeguarding consultation

The Financial Conduct Authority (FCA) is consulting on proposals to strengthen the safeguarding rules for payment and e-money firms, to introduce CASS-like measures to increase protection for customer funds when firms become insolvent.

ESMA consults on revisions RTS 22 on transaction data reporting and RTS 24 on order book data under MiFIR

The de-banking of customers, and the legal and regulatory implications that can arise, are not new issues. However, those issues have come into sharp focus following recent publicity surrounding a high-profile account closure. This article considers what payment services firms can expect next following the increased scrutiny from customers, media, government and the regulators.

Payments Consumer Duty Multi-Firm review

The FCA on 9 October 2024 published its key findings from its review of payment firms' implementation of the Consumer Duty, which came into force for open products and services on 31 July 2023 and for closed products on 31 July 2024.