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by Vicki McEwan|10 March 2022|Industry News
FCA RULES AND HANDBOOK Part 9A of the Financial Services and Markets Act 2000 (“FSMA”) provides the Financial Conduct Authority (“FCA”) wide-ranging powers. Under Section 137A the FCA can make legally binding rules for authorised and in some cases, unauthorised firms and individuals. FSMA contains important checks and balances on these powers, including procedures that […]
Read moreby Emma Cleveland|7 March 2022|Industry News
Following the Brexit transition period, the temporary permissions regime (“TPR”) was developed to ensure continuity of services for UK customers. The TPR allows European firms operating in the United Kingdom (the “UK“) via a passport to continue operating temporarily while they seek full authorisation before the Financial Conduct Authority (“FCA”). However, in order to remain […]
Read moreby Leela|28 February 2022|Industry News
On 17 December 2021, the European Securities and Markets Authority (“ESMA”) published a letter (the “Letter”) addressed to the European Commission (the “Commission”) as a response to the questions raised by the Commission in their letter dated 24 September 2021. The Commission’s letter related to a consultation on facilitating cross border investment undertakings, which included […]
Read moreby Emma Cleveland|24 February 2022|Industry News
HIGHER RISK INVESTMENT (“HRI“) STRATEGY STATEMENT In September 2021, the FCA published a Strategy Statement in relation to HRIs. The FCA describe HRIs as opportunities whereby high returns are being promised, and although product names and descriptions change frequently, examples of HRIs might include: high return bonds or mini-bonds often advertised as eligible to be […]
Read moreby Leela|17 February 2022|Industry News
Investment opportunities have become increasingly complex, digitalised and riddled with riskier products which has become further heightened by use of social media. This has proven problematic for the UK’s financial promotion regime (the “FPR”) in terms of how it can ensure that consumers are getting information fit for informed investment decision making. The consensus is […]
Read moreby Leela|9 February 2022|Industry News
SUMMARY As of 4 January 2022, the phase out of the London Interbank Offered Rate (“LIBOR”) has culminated in the cessation of: all Euro (“EUR”) and Swiss Franc (“CHF”) LIBOR settings; the overnight / spot next, 1-week, 2-month and 12-month sterling and Japanese Yen (“YEN”) LIBOR settings; and the 1-week and 2-month US Dollar (“USD”) […]
Read moreby Vicki McEwan|8 February 2022|Industry News
We are thrilled to announce the appointment of Warren Mead as Board Advisor to Cleveland & Co. Warren has over 25 years of in-depth experience in financial services, professional services and fintech and was previously the COO of KPMG’s advisory, tax and legal business. As an ExCo level leader, he has advised on and executed […]
Read moreby Emma Cleveland|6 February 2022|Industry News
RECENT COURT AND REGULATOR PRONOUNCEMENTS ARE A TIMELY REMINDER FOR FUND MANAGERS AND RESPONSIBLE ENTITIES TO USE CAUTION IN THEIR DISCLOSURE, AND MAKE SURE THEY ARE BEING TRUE TO LABEL In a recent decision by the Federal Court on 26 November 2021, Australian Securities and Investments Commission v La Trobe Financial Asset Management Ltd [2021] […]
Read moreby Emma Cleveland|4 February 2022|Industry News
There have been calls for proposed changes to the Appointed Representatives Regime (“AR Regime”) to help mitigate any potential risks and harm that may be caused to consumers and markets. In December 2021, HM Treasury published its Call for Evidence in response to the ‘TSC Lessons from Greensill Capital Inquiry’, which calls for recommendations by […]
Read moreby Leela|15 November 2021|Industry News
We are delighted to announce the opening of our Australian office in Sydney! Emma’s strong leadership has brought her to Australia to set up Cleveland & Co’s Asia-Pacific office, turning Covid’s challenges into an opportunity to capitalise on business development. This reflects Emma’s strategic vision: evolving the business when faced with external challenges. ‘We are […]
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