Weekly highlights—3 August 2017

Weekly highlights—3 August 2017

Welcome to the weekly Financial Services highlights from the Financial Services team for the week ending 3 August 2017.

Brexit

Government to introduce post-Brexit powers to impose global sanctions

The government announced new powers to impose sanctions against individuals, organisations and foreign governments following a public consultation. The aim of the new powers is to enable post-Brexit Britain to continue to play a central role in global sanctions to combat a number of threats including terrorism, conflict and the proliferation of nuclear weapons.

Member State cities offer to host UK-based EU agencies

The Council of the European Union has received 27 proposals by Member States, related to 23 cities, to host the EU agencies currently based in the UK. There have been eight offers to host the European Banking Authority (EBA) and 19 offers for the European Medicines Agency (EMA).

Financial Conduct Authority updates

FCA creates new head of department, Scotland role

The Financial Conduct Authority (FCA) appointed Maggie Craig as the head of department, Scotland, a newly-created role intended to further the FCA’s presence in Scotland. This will form the core of Ms Craig’s approach, as will contributing to Scottish aspects of FCA policies.

Prudential Regulation Authority updates

PRA issues July 2017 regulatory digest

The Prudential Regulation Authority (PRA) published its regulatory digest for July 2017. It highlights key regulatory news and publications for the month, including the PRA's proposals for extending the Senior Managers and Certification Regime to insurers, a speech by Sam Woods, the Deputy Governor for Prudential Regulation and CEO of the PRA, and the PRA annual report and accounts 2017.

Bank of England updates

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About the author:
Prior to joining LexisNexis in 2016 as a paralegal, Lauren was an adjudicator at the Financial Ombudsman Service. There she resolved consumers’ complaints, and gained knowledge about a wide variety of financial products. Before this she studied Law at Nottingham Trent University.