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‘Duty of care’ or hot air?

Online Published Date : 12 July 2021 | Appeared in issue: Vol 33 No 10 - 04 June 2021

The Financial Conduct Authority is consulting on a potential ‘duty of care’ owed by firms to consumers when conducting regulated activities. But are the proposals simply another retread of the 2001 Principles or an excuse not to enforce the existing rules? wonders Adam Samuel.

Preparing for IFPR

Online Published Date : 12 July 2021 | Appeared in issue: Vol 33 No 10 - 04 June 2021

A new prudential regime for MiFIDinvestment firms in the United Kingdom is just six months away and will requirecareful preparation by relevant entities. Lucy Hadrill and EmmaRadmore set out what we know so far and what firms should be working on.

The long and complex goodbye to LIBOR

Online Published Date : 12 July 2021 | Appeared in issue: Vol 33 No 10 - 04 June 2021

Legacy contracts will create future litigation risks if a party suffers disadvantage owing to the move away from LIBOR to an alternative benchmark. Moreover, varied jurisdictional approaches could lead to regulatory arbitrage and uncertainty for market participants, reports Johnny Shearman.

Open banking to open finance: FCA looks to the future

Online Published Date : 12 July 2021 | Appeared in issue: Vol 33 No 10 - 04 June 2021

Usage of open banking picked up pace in2020, while the regulator’s attention has turned to open finance – in which theprinciples of open banking are applied to a wider range of financial sectorsand products. A feedback statement from the Financial Conduct Authority setsout key findings and next steps, report Charlotte Hill and ArnavGupta.