2 November -
The Prudential Regulation Authority ("PRA") updated its consultation paper on changes to the PRA Rulebook and onshored binding technical standards.
The Financial Conduct Authority ("FCA") published issue...more
12/5/2018
/ EU ,
European Banking Authority (EBA) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
FSCS ,
IOSCO ,
MiFID II ,
Private Equity ,
Prudential Regulation Authority (PRA) ,
UK ,
UK Brexit
1 October -
The Competition and Markets Authority ("CMA") published a paper that was prepared jointly with the Financial Conduct Authority ("FCA") setting out the lessons that have been learned from the programme of work...more
11/2/2018
/ Alternative Investment Fund Managers Directive (AIFMD) ,
EU ,
European Securities and Markets Authority (ESMA) ,
European Supervisory Authorities (ESAs) ,
Financial Conduct Authority (FCA) ,
Investment Adviser ,
Key Information Document (KIDs) ,
MiFID II ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
UK ,
UK Competition and Markets Authority (CMA)
The Prudential Regulation Authority ("PRA") published its Regulatory Digest for August 2018 in which it highlighted key regulatory news including reference to a new insurer start-up unit ("NISU") that the PRA and the...more
10/2/2018
/ Cross-Border ,
EU ,
European Central Bank ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Financial Regulatory Reform ,
FSMA ,
Prudential Regulation Authority (PRA) ,
Reporting Requirements ,
UK
1 August -
The Financial Conduct Authority ("FCA") published a statement on selling high-risk speculative investment products to retail clients, following the publication of the European Securities and Markets Authority's...more
9/5/2018
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Amended Regulation ,
Consumer Financial Contracts ,
Consumer Lenders ,
EMIR ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
High Risk Financial Products ,
Legal Entity Identifiers ,
UK ,
UK Brexit ,
UK Competition and Markets Authority (CMA)
30 April -
BEIS published a consultation paper seeking views on proposals to reform the laws relating to all UK limited partnerships. The key proposals are:
- a requirement for all presenters to be registered with an...more
6/1/2018
/ Amended Legislation ,
Anti-Money Laundering ,
BEIS ,
EIOPA ,
European Central Bank ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Reporting ,
Financial Services Industry ,
General Data Protection Regulation (GDPR) ,
ISDA ,
Legislative Agendas ,
Limited Liability Company (LLC) ,
Principal Place of Business ,
Regulatory Agenda ,
Reporting Requirements ,
UK
3 April -
The Financial Conduct Authority ("FCA") published a press release, warning that it intends to take action against general insurance firms that fail to properly implement the rules aimed at increasing...more
5/2/2018
/ AIMA ,
Antitrust Provisions ,
Artificial Intelligence ,
ECON ,
EU ,
European Banking Authority (EBA) ,
European Central Bank ,
European Commission ,
European Supervisory Authorities (ESAs) ,
Financial Conduct Authority (FCA) ,
Financial Instruments ,
Financial Regulatory Reform ,
Financial Services Industry ,
MiFID II ,
Prudential Regulation Authority (PRA) ,
Solvency II ,
UK ,
WTO
1 March -
The Financial Conduct Authority ("FCA") published general insurance value measures data in relation to 36 insurers (including both UK and EEA firms) for the year ending 31 August 2017. The data is aimed at...more
4/5/2018
/ Capital Markets ,
European Commission ,
European Economic Area (EEA) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Free Trade Agreements ,
Insurance Industry ,
ISDA ,
Libor ,
Mergers ,
MiFID II ,
Payment Services Directive ,
UK ,
UK Brexit ,
UK Competition and Markets Authority (CMA)
1 January -
The Packaged Retail and Insurance-based Investment Products ("PRIIPs") Regulation (1286/2014) (the "PRIIPs Regulation") came into force on 1 January 2018. This includes an obligation on PRIIP manufacturers to...more
2/1/2018
/ Anti-Money Laundering ,
EU ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Insurance Industry ,
MiFID II ,
MLD4 ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
UK ,
UK Brexit ,
UK Payment Systems Regulator ,
Withdrawal
1 December -
The Financial Conduct Authority (FCA) published its 19th quarterly consultation paper (CP17/39). The proposed changes to the FCA Rules include changes to the FCA's Decision Procedure and Penalties manual,...more
1/5/2018
/ Alternative Investment Fund Managers Directive (AIFMD) ,
E-Signatures ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Markets ,
Insurance Industry ,
Key Information Document (KIDs) ,
MiFID II ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
UCITS ,
UK ,
UK Competition and Markets Authority (CMA)
3 November -
The Financial Conduct Authority (FCA) published an alert setting out key considerations for principals who have appointed representatives or introducer appointed representatives. Among other things, the alert...more
12/6/2017
/ Best Practices ,
Broker-Dealer ,
Competition ,
Due Diligence ,
EU ,
European Securities and Markets Authority (ESMA) ,
European Supervisory Authorities (ESAs) ,
EuVECA ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Information Commissioner's Office (ICO) ,
Investment Adviser ,
Key Information Document (KIDs) ,
Legal Entity Identifiers ,
MiFID II ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
UK ,
UK Competition and Markets Authority (CMA)
3 October - The Prudential Regulator Authority (PRA) published a policy statement on strengthening accountability in banking and changes to senior managers regime (SMR) forms. The changes to the SMR forms will become live on...more
11/6/2017
/ AIFM ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Broker-Dealer ,
European Council ,
European Securities and Markets Authority (ESMA) ,
EuSEF ,
EuVECA ,
Financial Conduct Authority (FCA) ,
IFRS ,
Legal Entity Identifiers ,
Mergers ,
MiFID II ,
MiFIR ,
Payment Services Directive ,
Proposed Regulation ,
Prudential Regulation Authority (PRA) ,
PSD2 ,
Senior Management Regime (SMR) ,
Treaty on the Functioning of the European Union (TFEU) ,
UK ,
UK Competition and Markets Authority (CMA) ,
UK Competition Appeal Tribunal (CAT)
1 September -
The Prudential Regulation Authority (PRA) updated its April 2017 public disclosure with Template A (Disclosure of Aggregate Statistical Data with regard to Insurance and Reinsurance Undertakings) and Template...more
10/11/2017
/ EU ,
European Securities and Markets Authority (ESMA) ,
EuSEF ,
EuVECA ,
Financial Conduct Authority (FCA) ,
Financial Solvency ,
Initial Coin Offering (ICOs) ,
Key Information Document (KIDs) ,
Legal Entity Identifiers ,
MiFID II ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Payment Services Directive ,
Policy Statement ,
Proposed Regulation ,
Prudential Regulation Authority (PRA) ,
PSD2 ,
Public Disclosure ,
UK ,
UK Brexit ,
UK Competition and Markets Authority (CMA)
2 August - The UK Competition and Markets Authority announced a consultation on proposed revisions to its published guidance on penalty setting in Competition Act 1998 cases....more
9/8/2017
/ Alternative Investment Fund Managers Directive (AIFMD) ,
EU ,
European Commission ,
European Economic Area (EEA) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Guidance Update ,
Memorandum of Understanding ,
MiFID II ,
MiFIR ,
Ministry of Justice ,
National Private Placement Regimes (NPPR) ,
Payment Protection Insurance ,
Penalties ,
UK ,
UK Competition and Markets Authority (CMA)
2 June -
The ESMA published its final report on guidelines on product governance requirements under the MiFID II Directive (2004/65/EU). The guidelines (set out in Annex IV) to the final report aim to promote greater...more
7/4/2017
/ Amended Legislation ,
Asset Management ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Instruments ,
Financial Regulatory Reform ,
Foreign Investment ,
MiFID II ,
MiFIR ,
Money Laundering ,
PSC Amendment Regulations ,
Repeal ,
Terrorist Financing Regulations ,
UK ,
UK Brexit
2 May -
The FCA published its Policy Statement on the FCA's disclosure rules following application of PRIIPs Regulation (PS17/6). The Policy Statement sets out how the FCA's disclosure requirements will change to reflect...more
6/5/2017
/ Acquisitions ,
AIFM ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Alternative Investment Funds ,
Anti-Money Laundering ,
CRD IV Directive ,
EMIR ,
EU ,
European Banking Authority (EBA) ,
European Central Bank ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Facebook ,
Financial Conduct Authority (FCA) ,
Merger Controls ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Remuneration ,
UK ,
WhatsApp
Key developments in April 2017: 3 April -
The FCA published its Consultation Paper on persistent debt and earlier intervention remedies, “Reforming the availability of information in the UK equity IPO process”...more
5/1/2017
/ AIF ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Distributed Ledger Technology (DLT) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Key Information Document (KIDs) ,
MiFID II ,
MiFIR ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Payment Services Directive ,
Private Fund Limited Partnerships (PFLPs) ,
Prudential Regulation Authority (PRA) ,
RTS ,
UK ,
UK Brexit ,
Whistleblowers
Key developments in March 2017:
1 March -
The FCA published its Consultation Paper on "Reforming the availability of information in the UK equity IPO process" (CP17/5). The CP proposes a package of policy measures...more
3/31/2017
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Bank of England ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
FSMA ,
General Data Protection Regulation (GDPR) ,
HM Treasury ,
Initial Public Offering (IPO) ,
Investment Management ,
Key Information Document (KIDs) ,
RTS ,
Senior Managers ,
UK
The FCA and PRA announced changes to enforcement process with the aim of strengthening the transparency and effectiveness of enforcement decision-making processes. Some of the changes have already come into force, the rest...more
2/28/2017
/ Article 29 Working Party (WP29) ,
Banking Sector ,
Banks ,
Capital Markets ,
Corporate Issuers ,
Data Protection ,
Data Protection Officers (DPOs) ,
EIOPA ,
Enforcement Actions ,
EU ,
EU Transparency Directive ,
European Banking Authority (EBA) ,
European Central Bank ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
European Supervisory Authorities (ESAs) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Markets ,
FSMA ,
General Data Protection Regulation (GDPR) ,
Insurance Industry ,
International Data Transfers ,
Investment ,
Investment Firms ,
Investors ,
Listing Rules ,
Money Laundering ,
NYDFS ,
ORSA ,
Payment Systems ,
Penalties ,
Proposed Legislation ,
Prudential Regulation Authority (PRA) ,
PSD2 ,
Regulatory Oversight ,
Reinsurance ,
RTS ,
Solvency II ,
Terrorism Funding ,
UK
Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK regulation for alternative asset managers.
The start of 2017 saw a number of regulatory developments including...more
2/2/2017
/ AIFM ,
AIFs ,
Alternative Investment Funds ,
Asset Management ,
Blockchain ,
Code of Conduct ,
Consumer Credit Protection ,
Deferred Prosecution Agreements ,
Enforcement Actions ,
European Banking Authority (EBA) ,
Financial Conduct Authority (FCA) ,
Guarantors ,
Loans ,
Market Abuse ,
MiFID II ,
Prudential Regulation Authority (PRA) ,
Rolls-Royce ,
Serious Fraud Office (SFO) ,
UK ,
UK Regulatory Reforms