REGULATORY NEWSFEED ~
REGULATORY NEWSFEED ~
PS1/25 – Resolution Assessments: Amendments to Reporting and Disclosure Dates
Outlined in a policy statement published on 7 January 2025, the PRA published their responses to their consultation paper and their final policy.
Event Ticket Resale Prices to be Capped
Government Cracks Down on Ticket Resale Prices: New Measures to Cap Costs and Protect Fans. Aimed at curbing extortionate resale prices, the UK is set to implement price caps and stricter regulations on ticket resellers.
Regulations Affecting the Average Person
FCA changes to overseas funds, pensions and investment products.
The Final Basel III Banking Standards will be Implemented in July 2025
The Prudential Regulation Authority (PRA) will implement amendments to the existing regulatory framework for Basel III on 1 July 2025.
Supervisory Statement 11/24 – Solvent Exit Planning for Insurers
On 18 December 2024 the PRA published a supervisory statement setting out their expectations for UK insurers to prepare and if required, carry out an orderly ‘solvent exit’.
London’s Housing Fund Failed to Make Repayments by Deadlines on £300m Government Loan
London Housing Fund Misses £300m Loan Repayments, Raising Concerns for Lenders and Housing Projects.
UK Retail Sales Lower than Expected
UK Retail Sales Growth Falls Short Amid Economic Slowdown, Raising Concerns for SMEs and Financial Institutions.
Peter Mandelson Announced to be the UK’s Ambassador to the US
Peter Mandelson Appointed UK Ambassador to the US, Bringing Trade Expertise and Global Connections.
Two Arrests have been made Following Two FCA Investigations on Unauthorised Debt and Claims Management Activities
Two Arrested in FCA Crackdown on Unauthorised Debt and Claims Management Activities.
Correction made to PRA Rulebook: PS15/24
PRA Corrects Rule in Solvency II Framework: Change Effective 21 December 2024 for Affected UK Firms.
Bank Rate Maintained at 4.75%
Bank of England Holds Rate at 4.75% Amid Rising Inflation; Next Decision Set for February 2025.
