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
Examples of good and poor practices provide helpful guidance, and a reminder of supervisory expectations.
The FCA has published TR18/3, setting out the findings from its thematic review of the anti-money laundering (AML)...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
The FCA has recently announced that it will begin a review of how firms have implemented the unbundling rules “within weeks”.
At its recent asset management conference, the FCA announced that it will imminently launch a...more
MiFID II contains a number of inducements requirements, including rules relating to conflicts of interest, research, hospitality, corporate access, and payment for order flow. This Client Alert outlines these requirements and...more
The Commission shares the results of a 2017 study into the current functioning of European markets for retail investment products.
Key Points:
..The European Commission’s Final Report is the result of examining a broad...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
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