The FCA and the PRA have published their Policy Statements, setting out final rules on the SMCR regimes for insurers and FCA solo-regulated firms.
Key Points:
..The FCA has announced that the extended SMCR will apply to...more
The FCA has outlined its approach to implementing key standards under the revised Payment Services Directive.
The FCA has published a statement on its website relating to the European Banking Authority’s (EBA’s) Opinion...more
Both the FCA and the PRA have written to firms to warn about certain risks associated with exposures to crypto-assets, and to advise firms of the measures they should consider implementing to mitigate such risks.
The FCA...more
The FCA’s Business Plan for 2018/19, published on 9 April 2018, outlined key priorities for the upcoming year. Although the Business Plan revealed that the FCA’s Brexit-related workload will mean a dearth of new initiatives,...more
6/26/2018
/ Banking Sector ,
Compliance ,
Cryptocurrency ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
MiFID II ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Robo-Advisors ,
Strategic Enforcement Plan ,
UK
FCA publishes final rules and further consultation on outstanding remedies under its asset management market study.
Key Points:
..The FCA has published a Policy Statement (PS18/8) setting out final rules and guidance...more
FCA warns providers of cryptocurrency derivatives of their regulatory obligations.
The UK Financial Conduct Authority (FCA) has issued a statement reminding businesses offering cryptocurrency derivatives of the requirement...more
ESMA to introduce measures to restrict the provision of CFDs, and prohibit the provision of binary options, to retail investors in the EU.
The European Securities and Markets Authority (ESMA) has announced the first use of...more
The FCA is proposing to add a new chapter on insider dealing and market manipulation to its Financial Crime Guide.
Key Points:
..The FCA proposes to add a new Chapter 8 to Part 1 of its Financial Crime Guide, outlining...more
On 23 February 2018, the FCA published a Policy Statement with new perimeter guidance on what amounts to a personal recommendation in relation to advising on retail investments. The guidance came into effect on the same...more
New FCA Discussion Paper demonstrates how the regulator’s thinking in relation to culture has evolved.
Introduction -
In Discussion Paper (DP) 18/2, the FCA has taken an unusual approach to a topic that has received...more
The FCA has published a report, clarifying its expectations of firms that develop or use algorithmic trading strategies.
On 12 February 2018, the FCA published a report on algorithmic trading compliance in wholesale...more
The FCA seeks industry feedback to capitalise on global regulatory sandbox trend.
The regulatory sandbox was pioneered by the Financial Conduct Authority (FCA) back in November 2015 — a “safe space” in which businesses can...more
The FCA has published a Feedback Statement on Distributed Ledger Technology, setting out its views and proposed next steps.
Key Points:
..Respondents to the FCA’s initial Discussion Paper were supportive of the FCA...more
Following on from the Financial Conduct Authority’s (FCA’s) consumer warning on Initial Coin Offerings (ICOs) in September, the FCA has announced a deeper examination of this area in its Feedback Statement on Distributed...more
The new rules are designed to improve the availability of information during the UK IPO process.
Key Points:
..New rules will be introduced from 1 July 2018 to change the timing and sequencing of the availability of...more
Regulatory sandboxes are becoming a global trend, providing plenty of opportunities for innovative businesses.
Pioneered in the UK as part of the Financial Conduct Authority’s (FCA) “Project Innovate”, a regulatory sandbox...more
Firms will need to consider whether any individuals in group entities require approval as Senior Managers.
Introduction -
Much has already been written on the proposed extension of the Senior Managers & Certification...more
The FCA will take a proportionate approach, reflecting the diversity of firms within the proposed regime’s remit.
On 26 July 2017, the FCA published its long-awaited Consultation Papers on the extension of the Senior...more
The FCA has published its second Policy Statement on MiFID II implementation, plus a further Consultation Paper on residual issues.
Key Points:
..The FCA has made significant changes to some proposals, particularly in...more
The European Commission is consulting on delegated acts clarifying the meaning of certain key terms.
On 22 June 2017, the Commission published four draft delegated acts under the EU Benchmarks Regulation (BMR). These acts...more
FCA publishes final report in its asset management market study and announces package of remedies.
The FCA published the final report in its asset management market study on 28 June 2017. The terms of reference for the...more
FCA proposes amendments to UK rules and clarifies timing for applications by benchmark administrators.
Key Points:
..The FCA is consulting on consequential changes to the Handbook, plus additional UK aspects of...more
The Financial Conduct Authority (FCA) has provided an update on its regulatory sandbox initiative. The sandbox is part of Project Innovate, and allows businesses (whether already authorised or not) to test new offerings in...more
FCA Consultation Paper sets out proposed approach to compelling LIBOR contributions.
The FCA has published a Consultation Paper (CP17/5), setting out its proposed approach to the use of its compulsion powers under the EU...more
UK regulator calls for submissions on potential uses, risks and benefits of distributed ledger technology in the financial services sector.
The Financial Conduct Authority (FCA) published a Discussion Paper (DP17/3) on...more