On May 22, the UK’s House of Commons Treasury Committee (Treasury Committee) updated its webpage on its inquiry into what it refers to as “digital currencies.” The webpage now provides links to written evidence the Treasury Committee has received from the UK Financial Conduct Authority (FCA) and the Bank of England (BoE) in which they outline their work in this area.
Continue Reading Treasury Committee’s Virtual Currencies Inquiry Publishes FCA and Bank of England Evidence

On July 26, the UK Treasury Committee published a review of reports (Report) into the failure of the UK banking group Halifax Bank of Scotland (HBOS). Notably, the Report includes a review of the enforcement functions of the UK Financial Services Authority (which was subsequently divided into the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA)) at the relevant time of HBOS’ collapse. and the Report concludes that a strong case exists to move those functions to a separate new enforcement body (as previously proposed in 2013 by the Parliamentary Commission on Banking Standards).
Continue Reading UK Treasury Committee Calls for a New UK Enforcement Body