Financial Services Update – Q3 2020

Financial Services Update – Q3 2020


As part of our sector-focused series, we have curated the key resources and points you need to know from this quarter’s legal updates. Understand the key articles, news stories, practice notes, timelines and upcoming webinars specific to the Financial Services sector.


The new prudential regime for investment firms: key points from the latest UK developments

Financial Services analysis: Partners Ash Saluja and Sam Robinson, Senior Associate Tom Callaby and Associates Yasmin Johal and Maggie Lund of CMS discuss the recent statements and discussion paper from the UK government, HM Treasury and Financial Conduct Authority (FCA) on the UK’s approach to the new prudential regime for investment firms due to come into force in the UK from Summer 2021. Read more…

The new prudential regime for investment firms: prudential consolidation and issues for groups

Financial Services analysis: Ash Saluja, Financial Services partner, Tom Callaby, senior associate, and Yasmin Johal and Maggie Lund, associates of CMS discuss the new prudential regime for investment firms, prudential consolidation and how this is expected to work in the UK post-Brexit. Read more…

AIFMD review—ESMA goes after delegation structures

Financial Services analysis: Samuel Brooks, partner at Macfarlanes considers the European Securities and Markets Authority’s (ESMA) letter on 18 August 2020 to the European Commission setting out several recommendations ahead of the Commission’s impending review of the Alternative Investment Fund Managers Directive. Read more…

Treasury consults on fin proms approval ‘gateway’

Financial Services analysis: Legal Director Emma Radmore of Womble Bond Dickinson discusses the recent consultations from the HM Treasury on the approval of financial promotions and promotion of cryptoassets. Read more…

ESG for fund managers—legislative drivers, sustainability frameworks and practical points

Financial Services analysis: Kate Binedell, partner, and Chris Ormond, associate director—knowledge development lawyer, at Bryan Cave Leighton Paisner discuss environment, social and governance (ESG) for fund managers, including legislation, frameworks and practical issues. Read more…


5 key news stories


FCA consults on approach to international firms doing business in the UK


Financial Services analysis: Brian McDonnell, Partner at

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About the author:
Melanie is a financial services lawyer and heads up the LexisPSL Financial Services team at LexisNexis UK.  The LexisPSL Financial Services module covers all of the latest developments in financial services regulation and is a key resource for financial services lawyers. Melanie previously worked in private practice at DLA Piper UK LLP and Orrick Herrington & Sutcliffe LLP and in-house at Morgan Stanley.