UK Financial Insights from Katten is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds in the UK and Europe.

To read more issues of UK Financial Insights from Katten, please click here.

UK Regulators Publish Consultations on Diversity and Inclusion Measures

By Sara Portillo, Neil Robson

The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) have recently published consultation papers on a package of measures to promote diversity and inclusion (D&I) in the UK financial sector aiming to achieve healthier firm cultures, reduce groupthink, unlock new talent from individuals with underrepresented characteristics and address consumer needs (jointly, the "Consultations"). Read about D&I consultations.

UK Crypto AML Registrations: FCA Feedback on Good and Poor Quality Applications

By Sara Portillo, Neil Robson, Christopher Collins

On 6 October 2023, the FCA updated its anti-money laundering (AML) and counter terrorist financing (CTF) regime webpage with useful feedback on good and poor quality applications – based on real-life applications submitted to the FCA by UK cryptoasset businesses (CBs) for registration under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR). Read about the low volume of CB registrations.

Johnjerica Hodge Shares Global ESG Regulatory Considerations in M&A With The Texas Lawbook

Partner and ESG Risk and Investigations Co-Chair Johnjerica Hodge recently served as a panelist for the "WTF Does ESG Really Mean for M&A?" session during the 19th annual Mergers and Acquisitions Institute at the University of Texas School of Law. The panel, featured in an article by The Texas Lawbook, determined that ESG issues are an increasing consideration in M&A transactions. Read about ESG regulatory frameworks.

Neil Robson Discusses ESG Benchmarks and Disclosures With Funds Europe and Thomson Reuters

Financial Markets and Funds partner Neil Robson recently spoke with Funds Europe and Thomson Reuters on how regulations coming from the UK's FCA and under the EU's Corporate Sustainability Reporting Directive (CSRD) present challenges for companies disclosing information related to ESG factors. While the CSRD seeks to assure stakeholders of the authenticity and comprehensiveness of sustainability reports, there are staunch considerations for companies. Read about Neil's comments.

Is the Financial Services and Markets Bill 2022 really the UK's "Big Bang 2.0"?

The UK Government introduced the Financial Services and Markets Bill into Parliament on 20 July 2022. The Bill comes with high hopes, and has been described as a "once in a generation opportunity" to improve the UK's financial regulatory framework, and to make the UK's financial services sector more competitive in a post-Brexit world. In a Lexology Masterclass led by members of the Katten UK regulatory team — Carolyn Jackson, Nathaniel Lalone, Neil Robson, Alice D'Mello and Christopher Collins — discuss what the proposed Bill will mean for financial trading and markets firms and whether it really could be the UK's "Big Bang 2.0." Register to watch the recording of this Lexology Masterclass.