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by Emma Cleveland|14 November 2018|Industry News
In the recent case of Signia Wealth(“Signia”) and Vector Trustees Ltd(“Vector”) [2018], the High Court of Justice ruled that Signia’s bad leaver provision did not breach the penalty doctrine, and was therefore enforceable. THE FACTS The case originated when Ms Dauriac, managing director of Signia, following an already deteriorated relationship with the founder of Signia, […]
Read moreby Emma Cleveland|13 November 2018|Industry News
Earlier this week, the UK’s Cryptoassets Taskforce (consisting of HM Treasury, the Financial Conduct Authority (the “FCA”) and the Bank of England) (the “Taskforce”) published its final report, providing an overview of cryptoassets and underlying technology as well as an assessment of the risks and benefits of such assets and the path forward for UK […]
Read moreby Emma Cleveland|6 November 2018|Industry News
The Privy Council recently upheld a decision that a hedge fund manager had not acted dishonestly or improperly when it failed to accurately describe to its client, the structure of its fund, and the way in which their client’s investments were being leveraged (Al Sadik v Investcor Bank [2018](“Investcorp”). FACTS In March 2018, at the […]
Read moreby Emma Cleveland|31 October 2018|Industry News
A project to enhance the electronic execution of documents came out of the Law Commission’s 13th Programme of Law Reform in January 2018. Subsequently, a consultation paper was published on 21 August 2018 and the Law Commission is requesting feedback on certain proposals in relation to the use of electronic signatures and deeds (the “Consultation”). […]
Read moreby Emma Cleveland|30 October 2018|Industry News
On 2 October 2018, the Financial Conduct Authority’s (“FCA”) Chair, Charles Randell, delivered a speech on the damaging cycle of deregulation, crisis and regulation (the “Speech”) at the annual Association for Financial Markets in Europe (“AFME”) conference, and ultimately warned against the dangers of deregulation. SUMMARY The FCA recognises how damaging the cycle of deregulation, crisis […]
Read moreby Emma Cleveland|18 October 2018|Industry News
On 1 November 2018, the European Securities and Markets Authority (“ESMA”) added three new questions and answers to its Q&A (the “Q&A”) on the Market Abuse Regulation (“MAR”). The purpose of the Q&A is to provide clarity on the practical application of MAR with the aim of promoting a common supervisory approach. The latest updates […]
Read moreby Emma Cleveland|4 October 2018|Industry News
The Investment Association (the “IA”) have recently published their annual asset management survey for 2017-2018 (the “Survey”), which is now in its sixteenth year. The survey captures asset management undertaken by members of the IA on behalf of domestic and overseas clients. The Survey has found that the total assets managed in the UK by […]
Read moreby Emma Cleveland|5 September 2018|Industry News
The Financial Conduct Authority (“FCA”), together with the Bank of England (“BofE”) (together, the “Regulators”) are currently investigating how technology can be used to make it easier for firms to meet their regulatory reporting requirements and improve the quality of information they provide. Together, they hope to create a model driven and machine readable regulatory […]
Read moreby Emma Cleveland|2 August 2018|Industry News
On 28 June 2018, the Prudential Regulations Authority (“PRA”) published a Dear CEO letter (the “Letter”) sent by its CEO, Sam Woods, to the CEOs of banks, insurance companies and designated investment firms to remind them of the relevant obligations under PRA rules, and to communicate the PRA’s expectations regarding firms’ exposure to crypto-assets. SUMMARY […]
Read moreby Emma Cleveland|26 July 2018|Industry News
On 27 June 2018 the Bank of England (the “BofE”) issued its approach (the “Approach”) to financial services legislation in preparation for Brexit. The Approach was released alongside a statement by the FCA in response to HM Treasury’s approach to financial services legislation under the European Union (Withdrawal) Act (the “Act”). The Approach sets out […]
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