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Philip Annett

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Philip Annett is a partner with the Financial Services Regulatory team in Baker McKenzie's London office. He has an in-depth knowledge of working with the UK regulators, having previously been a senior lawyer in the Enforcement Division at the Financial Conduct Authority (FCA), where he led some of the regulator's highest-profile enforcement cases, and was recently seconded to the Bribery and Corruption Division at the Serious Fraud Office.

In 2020, the COVID-19 pandemic swept away regulatory plans and programmes for the year while regulators rushed to stabilise the markets and protect consumers in distress. Regulators across the globe, just like financial institutions and other businesses, scrambled to implement remote working arrangements and keep their employees safe while adjusting their supervisory processes and plans. Regulatory programmes were postponed or reoriented, and supervisors quickly developed regulatory measures to help provide pandemic relief to both firms and their customers.

As the effects of COVID-19 continue to be felt around the world, businesses continue to face significant levels of instability and uncertainty caused by weakened financial markets and disruption to supply chains, workplace operations and business pipelines. Such instability and uncertainty will result in a growth in the number and…

As 2020 comes into view, what can we expect to be at the top of regulators’ agendas? Key themes that are new from last year are ESG and an increased focus on operational resilience. Both EU and UK authorities are looking at how buy and sell-side firms should embed ESG…

What are the new requirements and when do they apply? The European Commission has published new regulatory technical standards that apply specifically to credit and financial institutions, including e-money institutions, payment institutions, investment firms, AIFMs and UCITs Mancos. The new standards specify “additional measures” in respect of relevant institutions’ branches…