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The year ahead

10 March 2011 / Chris Warren-smith , Charles Golsong
Issue: 7456 / Categories: Features , Bribery , Regulatory
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Chris Warren-Smith & Charles Golsong report on the proposed break-up of the FSA

The start of another year leads to musings about proposed developments at UK, European and global levels that may affect the financial sector in the next 12 months.

The government proposes to dismantle the Financial Services Authority (FSA), and split its responsibilities between three new regulatory bodies: the Financial Conduct Authority (FCA), originally proposed to be named the Consumer Protection and Markets Authority (CPMA), which will regulate day-to-day market and business conduct and activities, a Prudential Regulatory Authority, to be a subsidiary of the Bank of England for micro-prudential regulation, and the Financial Policy Committee (to be part of the Bank of England), responsible for macro-prudential regulation.

The government proposes to establish a single Economic Crime Agency (ECA) to prosecute financial crime, a task currently handled by multiple agencies including the Serious Fraud Office, the Office of Fair Trading and the Serious Organised Crime Agency. The Home Office has stated that it will be the lead department in

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MOVERS & SHAKERS

Birketts—trainee cohort

Birketts—trainee cohort

Firm welcomes new cohort of 29 trainee solicitors for 2025

Keoghs—four appointments

Keoghs—four appointments

Four partner hires expand legal expertise in Scotland and Northern Ireland

Brabners—Ben Lamb

Brabners—Ben Lamb

Real estate team in Yorkshire welcomes new partner

NEWS
Robert Taylor of 360 Law Services warns in this week's NLJ that adoption of artificial intelligence (AI) risks entrenching disadvantage for SME law firms, unless tools are tailored to their needs
From oligarchs to cosmetic clinics, strategic lawsuits against public participation (SLAPPs) target journalists, activists and ordinary citizens with intimidating legal tactics. Writing in NLJ this week, Sadie Whittam of Lancaster University explores the weaponisation of litigation to silence critics
Delays and dysfunction continue to mount in the county court, as revealed in a scathing Justice Committee report and under discussion this week by NLJ columnist Professor Dominic Regan of City Law School. Bulk claims—especially from private parking firms—are overwhelming the system, with 8,000 cases filed weekly
Writing in NLJ this week, Thomas Rothwell and Kavish Shah of Falcon Chambers unpack the surprise inclusion of a ban on upwards-only rent reviews in the English Devolution and Community Empowerment Bill
Charles Pigott of Mills & Reeve charts the turbulent progress of the Employment Rights Bill through the House of Lords, in this week's NLJ
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