International banks can operate in the United Kingdom (UK) either as subsidiaries or branches . Data from the Prudential Regulation Authority (PRA) currently shows that there are 160 branches of international banks operating in the UK, of which 77 are from European Economic Area (EEA) banks operating under passporting arrangements.
January 25, 2018
The European Securities and Markets Authority (‘ESMA’) is undoubtedly an important European institution.
November 02, 2017
From June 1, 2016, certain UK financial institutions (defined below) and members of their global group will be restricted from entering into, or materially amending, ‘financial arrangements’ governed by the laws of a ‘third country’ (being a country that is not an EU Member State) unless their counterparties enable them to meet a new, UK-specific, “stay recognition requirement”.
May 23, 2016
In recent years the FCA has levied significant fines on banks for having weak anti-money laundering controls.
October 30, 2015
On 28 September 2015, the European Securities and Markets Authority (ESMA) published final drafts of 28 technical standards that it is mandated to produce under...
October 06, 2015
On 4 November 2014, the European Central Bank (ECB) assumed its supervisory role under the single supervisory mechanism (SSM).
January 27, 2015
December 09, 2014
With seven months gone since the Financial Services (Banking Reform) Act 2013 (Act) came into force, this latest updater identifies the provisions of the Act that ha
August 05, 2014
With the publication of MiFID II and MiFIR in the Official Journal of the European Union the clock has now started ticking and firms that deal with retail clients...
July 14, 2014
With the publication of MiFID II and MiFIR in the Official Journal of the European Union the clock has now started ticking and trading venues and market...
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