UK, Conflicts of Interest, MiFID II

UK FCA highlights areas for improvement in private market valuation processes

A&O Shearman on 3/13/2025

The UK Financial Conduct Authority (FCA) has published the findings of the multi-firm assessment of valuation practices and governance for valuing private equity, venture capital, private debt and infrastructure assets. The...more

ESMA Statement Warns on Payment for Order Flow

Latham & Watkins LLP on 7/16/2021

New ESMA guidance less strict than the established UK position on PFOF. On 13 July 2021, ESMA published a statement on payment for order flow (PFOF), the practice of brokers receiving payments from third parties for...more

FCA Publishes Review of Asset Managers’ Implementation of MiFID II Product Governance Rules

Latham & Watkins LLP on 3/2/2021

FCA found instances of non-compliance with the product governance rules which, in its view, increases the risk of investor harm. Background - On 26 February 2021, the FCA published a webpage setting out eight asset...more

FCA publishes Primary Market Bulletin No.23

BCLP on 4/18/2019

After considerable feedback, the FCA has published Primary Market Bulletin No.23 with finalised guidance on periodic financial information and inside information and commentary on MiFID II compliance and the UK IPO reforms. ...more

In Principle: 10 Things Authorised Firms Need to Know for 2018 – The World of Financial Regulation as the UK Prepares to Exit the...

Akin Gump Strauss Hauer & Feld LLP on 1/25/2018

There is much for authorised firms to consider in the year ahead. Firms have been through the intensive period of the enactment of the second Markets in Financial Instruments Directive (MiFID II), but must now step up their...more

The FCA Peers Into Dark Pools

Proskauer Rose LLP on 7/25/2016

On July 21, 2016, the Financial Conduct Authority (FCA) of the United Kingdom (UK) published a thematic review: UK equity market dark pools - Role, promotion and oversight in wholesale markets. Background - The...more