On 8th October 2023, the UK's Financial Promotion (Amendment) Order 2023 comes into effect, transforming the advertising and promotion of cryptoassets in the UK

ESMA has opened its first round of consultation on technical standards under the Markets in Crypto-Assets (MiCA) Regulation, seeking feedback from industry practitioners by September 20, 2023. Topics covered include: CASP authorisation process, conflicts of interest, complaints handling and change of control.

Braithwate’s analysis of the FCA’s CP23/13 on Stronger Protections for Borrowers in Financial Difficulty.

These new rules represent a ratcheting up of the FCA’s expectations of how firms support customers in financial difficulty, adding another layer to firms’ Consumer Duty initiatives to enhance their arrears and vulnerable customer processes.

This blog reviews the key considerations for a consumer credit firm.

The SEC provided additional guidance on how its proposed changes to the definition of an “Exchange” will apply to crypto and DeFi;

The House Committee on Financial Services published draft legislation for payment stablecoin issuers, building on legislative proposals which have circulated over the past year; and

The EU’s Markets in Crypto-Assets (MiCA) regulation reaches the final stage of the legislative journey and will be approved by the Parliament this coming week.

This blog provides a summary of each of these initiatives and concludes with Braithwate’s perspective on what this means for the future of digital assets and crypto businesses.

Braithwate analyses the UK Government’s White Paper on "A pro-innovation approach to AI regulation", identifying sharp contrasts with the EU AI Act: The UK intends to implement a more "flexible" principles-based approach, informed by sectoral regulators’ domain expertise

Heads up for all Payment Services and E-Money firms: the Financial Conduct Authority is concerned about governance and risk management.

Braithwate analyses the FCA’s review of firms’ implementation of the Investment Firms Prudential Regime (IFPR) and highlights steps firms should take to avoid penalty capital buffers.

The use of AI in finance is under increased regulatory scrutiny. This article outlines key opportunities and risks associated with AI across EU securities markets, specifically in the areas of asset management, trading and advisory services.

If you are working on an AI-driven process or product and not sure how AI risks may impact your firm, please 👋 reach out for an initial consultation. At Braithwate and Holistic AI we have proven tools and methodologies to help you adopt AI with confidence.

Braithwate is delighted to see the UK-Singapore FinTech Bridge established to promote collaboration between the FinTech sectors to the two countries.

Braithwate and HAI share insights on AI bias risk posed by the adoption of automated Identity Verification solutions as part of increasingly digitised customer onboarding journeys. In order to mitigate AI bias risk and continue to deliver fair customer outcomes, we recommend firms review their technical and qualitative approaches to AI bias risk management.

With the breadth of regulatory requirements firms face today, it is essential that staff understand their obligations as participants in the world of financial services. Braithwate has partnered with leading e-learning provider, Skillcast®, to offer a comprehensive library of self-paced online compliance training courses.

The next 12 months looks likely to deliver an avalanche of new regulatory requirements; we see this as a positive step for the industry, recognising the increasing importance of digital assets and providing clarity for users and firms.

BRAITHWATE IS EXCITED TO ANNOUNCE ITS STRATEGIC COLLABORATION WITH HOLISTIC AI TO HELP FINANCIAL SERVICES FIRMS ADDRESS CHALLENGES POSED BY THE USE OF ARTIFICIAL INTELLIGENCE (AI).

PRESIDENT BIDEN’S RECENT EXECUTIVE ORDER ON ENSURING RESPONSIBLE DEVELOPMENT OF DIGITAL ASSETS SAYS NOTHING AND EVERYTHING: NO SPECIFIC POLICIES WERE ANNOUNCED, HOWEVER, READING BETWEEN THE LINES, THE DIRECTION OF TRAVEL IS CLEAR.

The BlockFi settlement with the SEC is a significant step in the development of US crypto regulation. This blog analyses the impact on the broader crypto market.

Braithwate assesses the potential implications of the FCA’s proposed Consumer Duty.

Braithwate + Change Gap are working with Deutsche Bank to develop an open source data standard for a taxonomy and ontology to classify financial regulation. Learn more at the Open Source Strategy Forum on Tuesday 5th October.

Financial regulators around the world collect troves of data from financial institutions. Opening this up to the public offers an opportunity to improve financial services. Read more in our Op Ed in Financial News.

We’re excited to open the doors to Braithwate’s new office in London. As specialist advisers in financial services, there really was only one place for us to be - in the heart of the city.