Depositor and dormant account protection

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This Overview is a guide to the Lexis+® UK Financial Services content within the Depositor and dormant account protection subtopic, with links to the appropriate materials.

The Financial Services Compensation Scheme

The Deposit Guarantee Schemes Directive (2014/49/EU) (DGSD) requires EU Member States to establish a depositor protection scheme, offering minimum levels and scope of protection to customers of Investor Compensation Schemes Directive (ICSD) and Deposit Guarantee Schemes Directive (DGSD) firms (see Practice Notes: Investor Compensation Schemes Directive and

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Latest Financial Services News

Russia sanctions spotlight—taking Russian oil off the market

Law360, Expert analysis: This article by Alexandra Melia, partner at Steptoe LLP, is part of a quarterly column exploring recent developments in sanctions imposed on Russia by the UK, EU and US, following its invasion of Ukraine in 2022, and the compliance implications. In this instalment, we look at the designation of Russia's two largest oil companies, Rosneft and Lukoil, and the expansion of sanctions targeting the Russian energy sector.

PRA publishes policy statement increasing leverage ratio retail deposits threshold to £75bn

The Prudential Regulation Authority (PRA) has published policy statement PS22/25, finalising changes to the retail deposits threshold for the application of the leverage ratio requirement. The final policy increases the retail deposits threshold for the application of the leverage ratio requirement from £50bn to £75bn (exceeding the £70bn originally proposed) and introduces a three-year averaging mechanism for calculating firms' retail deposits, while other elements remain as consulted on in consultation paper CP2/25. Amendments are made to the Leverage Ratio (CRR) Part of the PRA Rulebook and supervisory statement SS45/15 - The UK leverage ratio framework. The policy takes effect on 1 January 2026, with existing modifications by consent ceasing on 30 June 2026.

FCA speech highlights need for clarity and higher standards in transition finance

The Financial Conduct Authority (FCA) has published a speech by Alicia Kedzierski, head of department, sustainable finance division, at the Loan Market Association’s Sustainable Finance Conference. The speech, titled ‘Raising standards in transition finance: clarity, coherence, collaboration’, underscores the loan market’s critical role in financing the UK’s transition to a low-carbon economy. Kedzierski stresses the importance of defining clearly what is meant by  'transition finance' and ensuring that transition finance products do not overlap or compete with other product categories.

FCA announces AI collaboration with MAS and plans to expand presence in Singapore

The Financial Conduct Authority (FCA) has announced a strategic partnership with the Monetary Authority of Singapore (MAS) to promote safe and responsible artificial intelligence (AI) innovation. The collaboration aims to support firms in the UK and Singapore in scaling and operating across markets. As part of the initiative, the FCA will establish a presence in Singapore by appointing a Financial Services Attaché at the British High Commission, forming part of a broader plan to expand into other priority markets in 2026. The partnership will involve joint testing of AI solutions, the exchange of regulatory insights and collaborative events highlighting best practices.

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