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by Emma Cleveland|26 April 2018|Industry News
The Financial Conduct Authority (“FCA”) has published Handbook Notice 48, setting out the changes made to the FCA Handbook under the following instruments that were made by the FCA board in September and October of 2017, such as the Financial Services Compensation Scheme (Funding and Scope) Instrument (“FCA 2017/58”). What is the Financial Services Compensation Scheme […]
Read moreby Emma Cleveland|19 April 2018|Industry News
The Court of Appeal considered the circumstances where a parent company can be held liable for the acts of its subsidiaries in the judgement Okpabi and others (on behalf of themselves and the people of Ogale Community) v Royal Dutch Shell Plc and another [2018] EWCA Civ 191 (the “Judgement”). In particular, the Judgement considered […]
Read moreby Emma Cleveland|3 April 2018|Industry News
On 6 December 2017, the Government published the UK Investment Management Strategy II report (the “Report”), which lays out the strategy and long term approach to build on the competitiveness of the UK asset management industry that will inform future government policy for the asset management industry. This Report updates and builds on the original […]
Read moreby Emma Cleveland|28 March 2018|Industry News
The FCA has launched a survey for relevant firms and fund managers of EEA inbound firms that passport into the UK (the “Survey”). EEA inbound firms are those who have been authorised in an EEA state that are or have been exercising their right to carry on a regulated activity in the UK. An authorised […]
Read moreby Emma Cleveland|21 March 2018|Industry News
UCTA Under the Unfair Contract Terms Act 1977 (“UCTA”), when a party to a business to business (“B2B”) contract deals on its“written standard terms of business”, any term which seeks to limit or exclude that party’s liability for breach of contract, non-performance or performance substantially different from that reasonably expected, must pass the test of […]
Read moreby Emma Cleveland|1 March 2018|Industry News
The Financial Conduct Authority (“FCA”) has published a call for feedback on a possible global regulatory sandbox, seeking views on: the potential global reach of the sandbox, what a global sandbox could look like and what the regulatory challenges might be. GLOBAL SANDBOX The FCA, alongside other regulators in other jurisdictions, wish to create the […]
Read moreby Emma Cleveland|23 February 2018|Industry News
On 8 February 2018, the Information Commissioner’s Office (“ICO”) and the Financial Conduct Authority (“FCA”) issued a joint statement on the General Data Protection Regulation (“GDPR”), which will come to force on 25 May 2018 (the “Relevant Date”). The statement is the result of firms’ addressing their concerns to both the ICO and the FCA […]
Read moreby Leela|11 December 2017|Industry News
On 24 November 2017, the Joint Committee of the European Supervisory Authorities (the “Committee”) issued a statement (the “ESAs Statement”) acknowledging the challenges of the requirement under the European Market Infrastructure Regulation (“EMIR”) to collateralise physically settled foreign exchange (“FX”) forwards, faced by certain end-users of these types of derivatives.[1] The ESAs Statement also sets […]
Read moreby Leela|30 November 2017|Industry News
On 21 November 2017, ESMA added 2 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 to the Q&A have been made […]
Read moreby Leela|30 November 2017|Industry News
Whilst derivatives market players are running at full throttle to implement all measures required under the European Market Infrastructure Regulation (“EMIR”) in advance of the next regulatory deadline which will require the collateralisation of physically settled foreign exchange (“FX”) forwards as from 3 January 2018 (“FX Deadline”), the European Supervisory Authorities (“ESAs”), regulators and firms […]
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