The boundaries of financial regulation are constantly expanding and the question of what should come within the Financial Conduct Authority's (FCA) remit is currently under review, as we explore in the article on the FCA's perimeter. Another area of expansion is Fintech and the development and use of cryptocurrencies. Within a discussion about Facebook's Libra currency, our article addresses the potential of digital currencies and the challenges involved.
Continuing with a spotlight on financial regulation, we highlight two cases in recent times where individuals, who were subject to enforcement proceedings, have succeeded in recovering some of their costs from the FCA; a reminder that the FCA must demonstrate that it has reasonably brought each of its claims and be able to support them. We also provide an update on the FCA and Financial Ombudsman Service (FOS) complaints statistics, the business plans for the FCA, Prudential Regulation Authority (PRA) and the Pensions Regulator (TPR) and the Financial Reporting Council's new Stewardship Code.
On the global stage, class actions continue to be a significant exposure for financial institutions and their directors and officers. In addition to an article on the boundaries of U.S. securities actions against foreign companies, we also examine: important cases testing the UK's opt-out measures under the Consumer Rights Act 2015, the first Australian court decision in a securities class action and developments for collective redress happening across Europe and in Germany, in particular.
This Review also analyses the recent Supreme Court judgment in Singularis v Daiwa and provides a summary of the important cases impacting the FIDO space since our March 2019 Review and of what we can expect in the coming months.
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