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by Leela|14 February 2019|Our Thinking
With less than two months to go until the UK leaves the EU, there have been a lot of recent Brexit related developments in the financial services industry. In our newsletter we look at the Temporary Permissions Regime, the Financial Services Contracts Regime Regulations, the draft version of FSMA (amendment EU Exit) Regulations 2019 as […]
Read moreby Emma Cleveland|9 January 2019|Our Thinking
The Taskforce (consisting of HM Treasury, the Financial Conduct Authority and the Bank of England) was launched by the Chancellor of the Exchequer in March 2018 and since then it has been working on developing its response to the regulatory challenges for use of crypto-assets and underlying technology on the UK market, summarised in the final report […]
Read moreby Emma Cleveland|27 November 2018|Our Thinking
The Financial Reporting Council has published the final 2018 edition of the Corporate Governance Code and the associated Guidance on Board Effectiveness. The latest edition also includes a feedback statement which contains a detailed comparison between the 2016 and the 2018 Codes, and a redline which highlights the changes between the consultation versions of the […]
Read moreby Emma Cleveland|15 November 2018|Our Thinking
We consider in this newsletter, the impact of Brexit on the financial services industry and provide practical steps for firms to take to mitigate their Brexit risk. We also examine the impact of Brexit on commercial contracts more generally as well as intellectual property. For more information or further guidance on Brexit and its impact […]
Read moreby Emma Cleveland|1 November 2018|Our Thinking
For 2019, ESMA’s focus will include supervisory convergence work in the area of Prospectus and Securitisation Regulation. The continued implementation of MiFID II and MiFIR will be a point of focus, whilst ESMA will also work on the third-country regime under MiFIR particularly in respect of equivalence assessments and concluding co-operation arrangements. Moreover, coping with […]
Read moreby Emma Cleveland|1 October 2018|Our Thinking
The London Stock Exchange has provided guidance on the new “comply or explain against” requirements for Alternative Investment Market companies, within the AIM Rule 26. AIM is a submarket of LSE, which allows smaller, less viable companies to float shares with a more flexible regulatory system than that applicable to the main market. The AIM […]
Read moreby Emma Cleveland|22 August 2018|Our Thinking
On 4 July 2018, the FCA published, in their latest policy statement (PS18/14), its feedback on consultation paper CP 17/25 and near final rules on how the Senior Managers & Certification Regime (“SMCR”) will be applied to all FCA regulated firms and the steps such firms will need to take to comply. The purpose of SMCR […]
Read moreby Emma Cleveland|5 June 2018|Our Thinking
After the Markets in Financial Instruments Directive II (“MiFID II”) and Packaged Retail Investment and Insurance Products (“PRIIPs”), the fund management sector will be turning its attention to the Alternative Investment Fund Manager Directive (“AIFMD”) in 2018. On 12 March 2018, the European Commission published a draft directive amending each of the AIFMD and Undertakings […]
Read moreby Emma Cleveland|24 May 2018|Our Thinking
In recent years and, in particular, recent months, cryptocurrencies and cryptocurrency funds have exploded in terms of discussion and popularity. On Tuesday 28 November 2017, the value of a bitcoin reached $10,000 for the first time, marking an 850% increase from the start of 2017. Since then, there have been considerable fluctuations in the value […]
Read moreby Emma Cleveland|20 May 2018|Our Thinking
The IOSCO has published a Consultation Report with the aim of proposing guidance to address the potential conflict of interest and associated conduct risks in the equity capital fundraising process. The Guidance reflects an expectation of high standards of conduct by market intermediaries and though it is not binding, IOSCO encourages its members to consider the […]
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