International 2026 — Meet us there
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by Leela|29 November 2017|Industry News
The European Securities and Markets Authority (“ESMA”) has issued two warning statements on initial coin offerings (“ICOs”), one on the risks of ICOs for investors and one on the rules applicable to firms involved in ICOs. ESMA is concerned about the rapid growth in ICOs globally and that both investors and firms may be unaware […]
Read moreby Leela|24 October 2017|Industry News
In November, the FCA will be launching an Asset Management Authorisation Hub (the “Hub”) designed to assist new firms through the FCA authorisation process. In 2016 alone, the FCA approved 204 authorisation applications for asset managers. The establishment of this Hub comes as a result of criticism that regulators and applicable rules can make it […]
Read moreby Leela|24 October 2017|Industry News
A recent report from the European Commission (“EC”) covering the final stages of its Capital Markets Union (“CMU”) initiative (a key initiative for Europe) aims to ease managers’ capacity to lend to and invest in European businesses. The EC’s vice-president Valdis Dombrovskis said “we want to create the right conditions for more funding to flow to […]
Read moreby Leela|24 October 2017|Industry News
A record 3,730 suspicious transaction and order reports (“STORs”) of suspected insider dealing and market manipulation have been submitted to the FCA in the first 9 months of this year*, 24% more than in all of 2016 (3,008). Banks, brokers and regulated firms have to report suspected insider dealing and market manipulation, like those that […]
Read moreby gcleve|24 August 2017|Industry News
The FCA has recently issued a consultation paper (“CP 17/29”) on minor amendments to the Client Assets sourcebook (“CASS”). These amendments are as a result of feedback received by the FCA from the industry regarding the difficulties that investment firms are experiencing when depositing client money at banks in accordance with CASS requirements. This feedback […]
Read moreby gcleve|8 August 2017|Industry News
The final report (the “Final Report”) released by the International Organisation of Securities Commission (“IOSCO”) at the end of July sets out their findings on how jurisdictions are progressing since IOSCO published their 2014 report (the “Report”) regarding the protection of client assets. IOSCO’s review team has looked into whether and to what extent the […]
Read moreby gcleve|2 August 2017|Industry News
On 17 July, the FCA published the Terms of Reference (“ToR”) for their latest study on investment platform market (the “Study”). The 5 broad topics being considered to assess whether competition between investment platforms work in the interest of consumers, are set out below. The FCA is encouraging feedback on the topics by 8 September […]
Read moreby gcleve|4 July 2017|Industry News
On Monday 3 July 2017, the greatly anticipated implementation policy statement was published by the FCA. Policy statement (PS 17/14) follows from 6 previous consultation papers and discusses the implementation of MiFID II and most importantly sets out the final rules on conduct of business, client assets and final rules and guidance on certain other […]
Read moreby Emma Cleveland|13 June 2017|Industry News
The European Securities and Markets Authority (“ESMA”) is committed to monitoring follow-up actions taken by national competent authorities (“NCA’s”) to address the findings of peer reviews. The recent follow-up report published by ESMA provides an update on the actions undertaken by ten Member State NCAs further to the 2014 Peer Review on MiFID Conduct of […]
Read moreby Emma Cleveland|25 May 2017|Industry News
On 16 May 2017, the Council of the European Union adopted the proposed regulation that repeals and replaces the Prospectus Directive and the Prospectus Regulation (the “New Regulation”). The first prospectus directive was adopted in 2003 and revised in 2009. The updated prospectus rules are in the form of an EU regulation. The Commission issued the proposal […]
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