Background On 12 September 2023, the Financial Conduct Authority (“FCA”) published a Policy Statement (PS23/13) (the ‘‘Policy Statement’’), outlining its response to the feedback received in the Consultation Paper (CP22/27). The focus is on creating a new set of rules for authorised firms who approve, or intend to approve, financial…

Background On 7 September 2023, the Financial Conduct Authority (“FCA”) published a press release announcing its intention to revise the implementation timeline for enforcing specific rules related to the promotions of cryptoassets. These rules were outlined in the financial promotion rules for cryptoassets (PS23/6), which were published on 8 June…

Background On 28 August 2023, the Australian Securities and Investments Commission (“ASIC”) released its 2023-2027 corporate plan (with a focus on 2023-2024). On 29 August 2023, the Australian Prudential, and Regulatory Authority (“APRA”) released its 2023-2024 corporate plan. APRA’s Corporate Plan Update The APRA Corporate Plan strategies have been shaped…

On 5 September 2023, Australia’s Parliament passed the Financial Accountability Regime Bill 2023 (”FAR”), which replaces and expands on the previous Banking Executive Accountability Regime. The FAR applies to insurers, banks, and superannuation providers, and aims to hold key executives accountable for their organisation’s activities and decisions. The 2024 corporate…

On 27 June 2023, the Australian Treasury issued a second consultation paper titled “Climate-related financial disclosure”. This release builds upon a prior consultation and is in line with the Australian Government’s dedication to creating standardised and internationally aligned reporting requirements for businesses to disclose governance, strategy, risk management, targets, and…

On 7 August 2023, The Australian Treasury released an exposure draft. This draft invites stakeholders to participate in a consultation process regarding proposed exemptions for Australian Financial Services Licences that would apply to foreign financial services providers (“FFSPs“). This initiative follows a prior consultation which lapsed in 2022 due to…

On 28 June 2023, the UK Law Commission (the “Commission“) issued a Final Report on Digital Assets (the “Report“), providing high level recommendations on how digital assets should be categorised and regulated after receiving public input from a consultation held in 2022. The Commission stated that while the common law…

Artificial intelligence (“AI“) is rapidly growing and bringing positive changes to various aspects of life, but concerns regarding potential risks are also emerging. The Australian government has been prioritising ethical considerations while advancing technology and AI for years. In 2022, the Department of Industry, Science, and Resources of the Australian…

As a reminder, the Securities and Exchange Commission introduced regulations overseeing the advertising practices of investment advisors, mandating compliance by November 2022. Firms must ensure… Please click here to follow us on LinkedIn to receive the latest information on this and other important topics!  

On 25 May 2023, the Attorney-General’s Department released the outcomes of the statutory review (“the Review“) of the Australian Modern Slavery Act 2018 (Cth). The Review focuses on reinforcing Australia’s efforts to combat modern slavery, in accordance with the United Nations Guiding Principles on Business and Human Rights. The proposed…

Cleveland & Co is delighted to announce the appointment of Anne-Marie Botha as Managing Director, Corporate, marking a key milestone in the firm’s continued expansion. Anne-Marie’s appointment reflects our commitment to strengthening the leadership team as we enter our next phase of strategic growth and global scaling.  With more than…

Cleveland & Co welcomes Catherine Brown: as Consultant People Business Partner Cleveland & Co, a leading outsourced in-house legal firm, is thrilled to announce that Catherine Brown, will be joining us as our Consultant People Business Partner, a pivotal role demonstrating the firm’s commitment to nurturing our most valuable asset…

Cleveland & Co, a leading outsourced in-house legal firm, is pleased to announce the appointment of Rowena Hill as the new Managing Director and General Counsel for the Europe, Middle East, and Africa (EMEA) region effective from the end of April 2024. Rowena’s appointment reinforces our dedication to enhancing our…

Cleveland & Co is thrilled to announce the appointment of Mr. Craig Bingham as a Board Advisor. With over three decades of unparalleled experience in Financial Services on a global scale, Craig brings a wealth of expertise and strategic vision to the leadership team. Having served as the Global CEO…

The first of its kind for Cleveland & Co! On Wednesday 20 September 2023, we hosted our first-ever CEO Roundtable: Chief Executives Connect, led by Tanja Listar, where we engaged in insightful discussions, forged valuable connections, and savoured a delicious lunch with a diverse group of highly accomplished industry professionals!…

We are thrilled to announce that Cleveland & Co has been selected as a finalist for Strategic Legal Operations Team of the Year at The British Legal Awards 2023! These prestigious, premier legal awards represent ‘the best of the best’ within the UK’s legal community and celebrate excellence and innovation…

The Financial Conduct Authority’s Consumer Duty came into force on 31 July 2023, making it applicable to all new and existing products or services that are open to sale or renewal. Firms must have all the necessary processes and agreements in place to fulfil their obligations under the Consumer Duty……

In recent times, a number of investment funds have come under scrutiny and criticism for engaging in greenwashing. We can help you navigate this complex issue. Safeguard your firm against the risk of greenwashing Schedule your 10-minute call with Tanja Listar for invaluable insights and guidance to ensure that your…

The 79th session of the Economic and Social Commission for Asia and the Pacific (the “ESCAP”) was held from 15 to 19 May 2023. This session witnessed the adoption of 10 United Nations (“UN”) resolutions by countries within Asia-Pacific (the “APAC”), with the aim of reaffirming their unwavering commitment to…

Alex Findlay, Hannah Nguyen and Hailey Kadivar have all been an invaluable part of the team for the past 4 weeks as our interns! Their unwavering commitment and hard work during their time with us have been truly impressive. As they prepare to embark on the next stage of their…