Overview

The Government has published a financial regulation White Paper and draft Bill, which addresses and highlights the responses from the consultations and proposes a number of new policies which have been developed in light of this feedback. The proposals include:

The FSA has published a near-final form draft of the Handbook rules and guidance that will be implemented in order to give UCITS IV effect in the UK.

The Financial Services Authority has published three documents relating to financial crime:
- A consultation paper, which proposes a new guide designed to help firms reduce the risk of their business being used to facilitate financial crime;
- A thematic review of how banks manage their money laundering risks; and
- A thematic review assessing the adequacy of lenders’ systems and controls to detect and prevent mortgage fraud.

The European Central Bank has published its bi-annual Financial Stability Review. The purpose of the Review is to promote awareness in the financial industry and among the public of issues that are relevant for safeguarding the stability of the euro area financial system.