The much-promised financial promotions gateway has now become law. The UK financial promotions regime is undergoing a large amount of change at the moment, which we discussed previously.

Welcome to Banking Bites! This is our short summary flagging key developments in the UK that we hope will inform your activities in your market. This edition covers: FCA publishes guidance on regulated firms offering compromises and tells banks to improve treatment of small to medium sized enterprises FSB issues statement on cryptoasset supervision and regulation FCA provides update on ESG strategy Government announces intended implementation date of Overseas Entity register Government introduces amendments to money laundering legislation including implementing the ‘travel rule’ Government provides responses to the independent review into SFO failings Successive amendments to UK sanctions regimes in a short space of time

Welcome to Banking Bites! This is our short summary flagging key developments in the UK that we hope will inform your activities in your market.  This edition covers: Banks continue to crack down on use of non-firm approved messaging platforms for business communications New FCA sanctions screening tool and updated approach to online fraud Importance of being aware of applicable regulatory guidance on financial crime risk House of Commons Foreign Affairs Committee and Treasury Committee work on the UK Government’s Russia Sanctions regime FCA Feedback Statement on ESG integration in UK capital markets: Feedback to CP21/18 Time to put the H in ESG – ESHG? FCA publishes guidance on the scope and application of the business interruption insurance test case