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by Emma Cleveland|30 January 2018|Our Thinking
On 30 October 2017, the High Court (the “Court”) assessed and made a decision regarding contracts via email and the care that must be taken when entering pre-contract negotiations. Goel and another v Grant and another [2017] EWHC 2688 (Ch) (the “Goel Case”) identified the risk of inadvertently entering into a binding contract before terms are finalised. […]
Read moreby 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 Emma Cleveland|30 September 2017|Our Thinking
Emma explains this LexisNexis interview what ESMA says about algorithmic trading, commodity derivatives, and other topics in its Q&As. Please click here to read more.
Read moreby Emma Cleveland|11 September 2017|Our Thinking
Our research on the Senior Managers Certification Regime shows that the number of individuals who can be held personally responsible for misconduct is expected by increase 20-fold. The implication is that firms will be required to provide extra training for affected staff and t his will impact significantly on the budgets of smaller firms. To […]
Read moreby gcleve|8 September 2017|Our Thinking
On 26 July 2017, the FCA published its consultation paper CP 17/25 regarding the extension of the Senior Managers & Certification regime (“SM&CR”) to all FCA firms. The purpose of extending the SM&CR regime is to raise the standard of conduct for everyone who works within with financial services industry and to make the more […]
Read moreby gcleve|7 July 2017|Our Thinking
On Monday 3 July 2017, the FCA released policy statement 17/14 (“PS 17/14”) with the final rules on the implementation of MiFID II. The impact in particular on brokers and analysts will be great due to the new regulations focused on how research can be paid for. Our Managing Director, Emma Cleveland, has been […]
Read moreby Emma Cleveland|3 May 2017|Our Thinking
On 4 April 2017, ESMA added 10 new questions and answers to its Q&A on MiFID II and MiFIR investor protection topics (the “Q&A”). The purpose of the Q&A is to provide clarity on various investor protection-related topics with the aim of promoting a common supervisory approach and practices in the application of MiFID II/MiFIR. […]
Read moreby Emma Cleveland|20 April 2017|Our Thinking
On 27 March 2017, The Investment Association (the “IA”) published a consultation (the “Consultation”) which provides a draft industry standard code (the “Code”) with respect to the reporting of charges and transactions costs. This Consultation has been published for the purposes of getting feedback on the draft Code, and the IA would be particularly interested […]
Read moreby Emma Cleveland|13 April 2017|Our Thinking
On 15 September 2016 last year, the HM Treasury released a consultation on how the Fourth Anti Money Laundering Directive and the Fund Transfer Regulation would be implemented in the UK (the “Consultation”). As a result of the Consultation, the UK Government has made a number of key decisions, those of note being primarily in relation […]
Read moreby Emma Cleveland|6 April 2017|Our Thinking
The FCA expects firms to deliver consistent best execution for their clients and have a strategy to ensure that all relevant parts of the business are compliant in ensuring best execution. The FCA expects a clear management responsibility and co-ordination between the front office and compliance to ensure a robust monitoring framework. The FCA has […]
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