Five months after it was commissioned, and just three months after the call for input, the FCA has published the final report from the Woolard Review into change and innovation in the unsecured credit market.
The UK’s fintech sector is due to get a major boost in reforms suggested as part of the Kalifa Review of UK Fintech. In our latest alert, we provide a high level overview of the Review’s recommendations, and highlight some of the key ways in which the Review may fundamentally reshape financial services regulation and policy in the UK.
On 7 January 2021 HM Treasury (HMT) published consultation and call for evidence on the regulatory approach to cryptoassets and stablecoins. The consultation represents the first stage in HMT’s consultative process on the broader regulatory approach to cryptoassets and stablecoins. The consultation closes on 21 March 2021. Our crypto regulatory experts have published a briefing in which we explore the policy background underlying the consultation, set out the key points of HMT’s proposals, and provide a comparison to corresponding provisions in the European Commission’s recent proposal on a regulatory framework for cryptoassets.
On 20 July 2020, HM Treasury published a consultation paper proposing to bring the promotion of certain types of cryptoasset within scope of the financial promotions restriction. The proposed changes, together with those proposed in the Treasury’s parallel consultation on the financial promotions approval regime would result in a significant expansion of the scope of the financial promotions regime.
On 20 July 2020, HM Treasury launched a consultation proposing to reform the regulatory framework for approval of financial promotions. HMT’s proposals are potentially far-reaching and may have important implications for the way that certain firms conduct business.