Industry News

UCITS V Implementation and other changes to the Handbook affecting investment funds

by Emma Cleveland|17 September 2015|Industry News

Undertakings for collective investment in transferable securities (UCITS) are regulated investment funds which can be sold to the general public throughout the European Union, due to their increasing popularity the importance of having common and harmonised standards for investor protection is becoming increasingly important. UCITS V seeks to address this issue along with a number […]

MiFID II Roundtable

by Emma Cleveland|8 September 2015|Industry News

On 17 July 2015, the Financial Conduct Authority (“FCA”) held a MiFID II Roundtable discussion aimed at providing updates on MIFID II implementing measures and addressing various potential implementation issues in the financial services industry, arising as a result of the new directive.

Improving the complaints handling process – a wider scope for referrals to the Financial Services Ombudsman

by Emma Cleveland|8 September 2015|Industry News

In line with the FCA’s initiative of improving complaints handling procedures through increased process transparency and providing further assistance to firms, the FCA have updated their Complaints Sourcebook.

IOSCO consultation on international standards and fees and expenses of investment funds

by Emma Cleveland|8 September 2015|Industry News

There has been a significant amount of discussion around fund fees and expenses in the past few years as regulators aim to increase fee transparency to investors. In the UK, the FCA has published a number of studies and reviews on this matter (TR14/7 – Clarity of fund charges) and has also addressed this issue […]

Capital Markets Union

by Emma Cleveland|2 September 2015|Industry News

The single market is one of the core objectives of the EU as a matter of policy guidance and also as a benchmark. Achieving free movement of capital throughout the EU is an indispensable part of the creation of a single market and the matter has been widely addressed on numerous occasions.

Financial Advice Market Review

by Emma Cleveland|1 September 2015|Industry News

On 3 August 2015, City Minister, Harriett Baldwin launched a major new review (the Financial Advice Market Review) which looks to examine how financial advice could work better for consumers, building on the government’s pension reforms which have allowed people real choice and freedom over their savings and given them access to free and impartial […]

The Summer Budget – Impact on the Asset Manager

by Emma Cleveland|20 August 2015|Industry News

On 8 July 2015, the Chancellor George Osborne, presented the Summer Budget (the “Budget”). The Budget needs to be taken into consideration as it impacts both the tax benefits of all UK citizens and non-domiciled individuals. It will have direct and indirect implications upon the UK asset management industry. The Budget further develops the government […]

Fair and effective markets review – final report, June 2015

by Emma Cleveland|22 July 2015|Industry News

Background The Fair and Effective Markets Review (the “Review”) was launched by the Chancellor of the Exchequer and the Governor of the Bank of England in June 2014 for two main reasons: to reinforce confidence in the wholesale Fixed Income, Currency and Commodities (“FICC”) markets in light of the misconduct issues which have been prevalent […]

Building real markets for the good of the people – a speech by Mark Carney, Governor of the Bank of England

by Emma Cleveland|7 July 2015|Industry News

In his speech, Mr Carney focuses on the importance of the UK’s markets in serving our economy and outlines how the markets create new opportunities for UK businesses and savers. Much of the activity in our economy is reliant upon the fixed income, currency and commodity markets (“FICC”) and the stability of these markets has […]

Regulation – supporting vibrant markets: a speech by Martin Wheatley, CEO of the Financial Conduct Authority, 2 June 2015

by Emma Cleveland|30 June 2015|Industry News

In his speech at the Future of Financial Services event in London, Mr Wheatley discusses how innovation, competition and regulation can be effectively managed to benefit both consumers and businesses. Mr Wheatley argues that we need effective regulation that protects consumers but which doesn’t stifle innovation, because innovation creates competition in business which is beneficial to […]