Pre-2002 FLP publications are collected for reference here. FMLC publications—primarily reports and correspondence—go back to 2003. All are available to view or download as a PDF, with collected volumes on specific topics available here. The 10 most recent publications are listed below.
Use the search function to search for specific publications, or use the tag cloud to browse the most frequent tags. Please note that the practice of assigning an "issue number" to topics has been discontinued, although older publications continue to be tagged with their issue number.
Click here for a complete list of FMLC publications in reverse-chronological order.
Recent Publications
The Directive (EU) 2021/2167 on credit servicers and credit purchasers (“Directive”) was proposed as part of the European Commission’s strategy to reduce current stocks of non-performing loans (“NPLs”) on EU banks’ balance sheets and prevent future NPL build-ups. The Directive …
02 September 2022Article 3(1) of the RAO extends the meaning of the term “contract of insurance” for regulatory purposes, so as to bring within the purview of insurance regulation under FSMA a range of other contracts, some of which are patently not …
09 August 2022Following the publication of HM Treasury’s response to its 2020 Consultation on cryptoasset promotions and the FCA’s consultation on strengthening financial promotion rules for high-risk investments, including cryptoassets, stakeholders have brought to the Committee’s attention several potential areas of legal …
15 March 2022On 6 September 2021, the Prudential Regulation Authority (“PRA”) published a Consultation Paper setting out its proposed approach to interpreting and applying the definition of an insurance holding company for the purposes of the Group Supervision Part of the PRA …
07 December 2021As part of its response to the global financial crisis of 2008, HM Government introduced legislation requiring U.K. banks to separate the provision of core retail services from other activities within their groups. These requirements are known as “ring-fencing.” The …
09 November 2021The Law Commission has undertaken to review the law of England and Wales and consider reforms to ensure that the law can accommodate digital assets. As a first step, it has issued a Call for Evidence. Given the considerable legal …
30 July 2021The Law Commission has launched a Consultation to ascertain the topics which might constitute its 14th Programme of Law Reform. The Law Commission undertakes this public consultation with a view to submitting to the Lord Chancellor a draft Programme of Law Reform. The FMLC has submitted a response listing, in order …
30 July 2021this response to the FCA’s Consultation on its new powers over the use of critical benchmarks, the FMLC has highlighted uncertainties in relation to the BMR generally, which in turn lead to confusion regarding the new powers and the difficulties …
2021 Benchmark Transition Benchmarks Financial Conduct Authority Financial Services Bill 2019-21 LIBOR Report17 June 2021The Working Group has noted with interest the appointment by HM Treasury of an independent panel to review the operation of the legislation relating to ring-fencing and the publication of a Call for Evidence. As the Working Group has only …
01 June 2021The FMLC has submitted a response drawing attention to previous FMLC papers on “possession” and “control”, written in 2010 and 2012, which highlight the serious issues of legal uncertainty and material difficulties arising from the definitions of “possession” and “control”.
07 May 2021