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Bank BCLP is a financial services industry blog managed by our firm’s banking lawyers. 2022 is the blog’s fourteenth year in publication. Attorneys posting to Bank BCLP explore a wide variety of topics that impact the industry. For the latest updates on bank regulatory changes, litigation impacting the industry, trends to be mindful of, and various other industry updates, presentations and commentary from our attorneys, turn to Bank BCLP.

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1,324 Results
Banking Bites – August 2 2022
August 2, 2022

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:

  1. FCA publishes guidance on regulated firms offering compromises and tells banks to improve treatment of small to medium sized enterprises
  2. FSB issues statement on cryptoasset supervision and regulation
  3. FCA provides update on ESG strategy
  4. Government announces intended implementation date of Overseas Entity register
  5. Government introduces amendments to money laundering legislation including implementing the ‘travel rule’
  6. Government provides responses to the independent review into SFO failings
  7. Successive amendments to UK sanctions regimes in a short space of time
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Banking Bites - July 13 2022
July 13, 2022

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:

  1. Banks continue to crack down on use of non-firm approved messaging platforms for business communications
  2. New FCA sanctions screening tool and updated approach to online fraud
  3. Importance of being aware of applicable regulatory guidance on financial crime risk
  4. House of Commons Foreign Affairs Committee and Treasury Committee work on the UK Government’s Russia Sanctions regime
  5. FCA Feedback Statement on ESG integration in UK capital markets: Feedback to CP21/18
  6. Time to put the H in ESG – ESHG?
  7. FCA publishes guidance on the scope and application of the business interruption insurance test case
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Banking Bites – June 21 2022
June 21, 2022

This edition of Banking Bites provides updates on:

  1. New High Court case considers nature and scope of the Quincecare duty
  2. More UK firms to provide confirmation of payee services
  3. UK to bring critical third party providers within the financial regulators’ remit
  4. PRA provides insight on operational resilience mapping
  5. EU announces sixth package of Russian sanctions
  6. Changes to UK’s sanctions enforcement powers 
  7. England & Wales’ Law Commission publishes paper on corporate criminal liability reform
  8. Results from UK’s 2021 Climate Biennial Exploratory Scenario
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ESG Aspirations vs. Operations – Momentum in Emerging Greenwashing & Diligence Risks
June 21, 2022

Increasing focus on ESG related progress is both commendable and imperative. The scrutiny extends beyond renewables, alternative energy, industrials and carbon impact, to all facets of global business including banks and financial services and any number of value chain providers. Sustainable finance and green lending initiatives support ESG business growth opportunities. Continuing enhancements to  diversity, equity and inclusion (DEI) and governance considerations across a variety of sectors benefit all.  The evolving landscape presents opportunities and pitfalls for investors and financial institutions. U.S. and global regulators continue to issue aspirational pronouncements, develop best practices and increase enforcement focus. Over the past month, high profile announcements have come from the U.S. Securities Exchange Commission (SEC), the U.K. Financial Reporting Council (FRC), the Basel Committee and others. Staying abreast of these ESG developments and staying true to your institution’s stated strategies is critical to avoiding pitfalls including potential enforcement and civil litigation.      

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BCLP Sponsors 2022 Banking Governance Best Practices Survey
June 2, 2022

Bryan Cave Leighton Paisner was pleased to sponsor the 2022 Governance Best Practices Surveyconducted by Bank Director. It includes a plethora of benchmarking data on core governance practices among banks under $100 billion in assets based on a February - March 2022 survey of 234 independent directors, board chairs, and CEOs. Coverage includes board culture, board evaluations, board education, director onboarding, board committee structure and oversight, ESG oversight, and board diversity. BCLP Partner Jim McAlpin worked with Bank Director in framing the questions for the national survey and interpreting the results. 

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Banking Bites – May 30 2022
May 30, 2022

This edition of Banking Bites provides updates on:

  1. Privy Council rules against extension of the Quincecare duty
  2. No privilege protection for the identity of the person communicating with solicitors
  3. Payment Systems Regulator fines NatWest Group £1.82m for overcharging interchange fees on credit cards
  4. EU member states reach deal to bolster cybersecurity rules
  5. Financial Conduct Authority commits to removing unused regulatory permissions
  6. Lessons Learned: Knowing your customer processes remains key FCA focus for challenger banks
  7. The Wolfsberg Group releases FAQ guidance on negative news screening
  8. FCA encourages reporting on sanction evasions or control issues
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