The FCA has announced that it plans to consult further on the scope of the Client Dealing Function under the SMCR.
Key Points:
..The FCA acknowledges that the scope of the Client Dealing Function needs to be clarified,...more
The FCA has published a second consultation on the Brexit onshoring project. Like the first, and many other Brexit onshoring documents, it is both long and very technical. However, a number of important policy points are...more
11/29/2018
/ Consultation ,
EU ,
European Economic Area (EEA) ,
Financial Conduct Authority (FCA) ,
Listing Rules ,
Onshoring ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Securities ,
Senior Management Regime (SMR) ,
UCITS ,
UK ,
UK Brexit
Latham & Watkins demystifies the process for onshoring the MiFID II regime, and outlines the key changes for firms operating in the UK.
Key Points:
..The onshoring process is designed to preserve the status quo as much...more
The Taskforce’s final report outlines the UK’s policy and regulatory approach to crypto-assets and distributed ledger technology in financial services.
Key Points:
..The Report provides an overview of crypto-assets and...more
The House of Commons Treasury Committee has published its recommendations for the regulation of crypto-assets in the UK.
Key Points:
..The House of Commons Treasury Committee has proposed that the UK government should...more
UK regulators expand on plans to smooth the transition for inbound passporting firms in the event of a “no deal” Brexit.
Overview -
HM Treasury published draft legislation on 24 July 2018 to establish a temporary...more
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
FEMR progress report commends the efforts of firms to drive higher market standards -
HM Treasury (HMT), Bank of England (BoE), and the Financial Conduct Authority (FCA) have issued a progress report in relation to the...more
Best execution is currently a hot topic for global regulators and the past year has seen notable regulatory focus in this area. Amid this development, firms are recommended to review their global best execution compliance...more
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
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
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 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
FCA speech contains some noteworthy statements and observations that firms should take into account.
On 14 November 2017, the FCA published the text of a speech entitled “Effective compliance with the Market Abuse...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 ban extends to foreign branches of UK firms; also where services are provided from a firm’s UK establishment.
Key Points:
..Effective 3 January 2018 firms subject to the ban cannot enter into agreements that contain...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
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
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
Theresa May’s speech on Brexit covered many of the topics that were central to the Brexit referendum debate. Immigration, the European Court of Justice, and Parliamentary sovereignty all had starring roles. But, for once,...more