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by Emma Cleveland|6 January 2016|Our Thinking
In December 2015, the FCA published their Thematic Review on the Suitability of investment portfolios at Wealth Management Firms and Private Banks (the “Report”). In the Report the FCA has presented its findings from the assessment of over 150 files collected from 15 firms in regards to the suitability of retail investment portfolios to investors. […]
Read moreby Emma Cleveland|9 December 2015|Our Thinking
The FCA has continuously pursued the initiative of increasing transparency in the financial services industry and ensuring the best possible investor outcomes. As part of this initiative, the regulator is seeking to improve complaints handling procedures, by increasing process transparency and encouraging firms to deal more effectively with complaints handling. In the PS15/19 Policy Statement […]
Read moreby Emma Cleveland|22 September 2015|Our Thinking
UCITS account for around 75% of all collective investments by small investors in Europe and so UCITS V will have a significant impact on a major part of the industry. With implementation planned for March 2018, it is important that firms prepare for the forthcoming changes that will need to be made to ie. their fund […]
Read moreby Emma Cleveland|11 September 2015|Our Thinking
It is often believed that a clause expressly stating that the parties to a contract would be liable for its breach should be inserted within agreements as a safeguard for liability in situations of breach. For example, it is common for the wording of liability and indemnity clauses to specify breach as a cause of […]
Read moreby Emma Cleveland|16 June 2015|Our Thinking
The Prudential Regulation Authority (“PRA”) has recently published a supervisory statement that identifies the key aspects of board governance that PRA-regulated firms should pay attention to, as they are the aspects which the PRA sees as particularly important to proper board governance.
Read moreby Emma Cleveland|11 June 2015|Our Thinking
On 3 January 2017, MiFID II will be implemented with far-reaching implications for many financial services firms. Firms may be concerned about the compliance changes required and the time it may take to ensure they are fully prepared come January.
Read moreby Emma Cleveland|14 May 2015|Our Thinking
The recent case of SPL Private Finance v Arch FP 2014 has served as somewhat of a reminder that investment managers are not always outside of the scope of fiduciary obligations, despite attempts to exclude such in contract. In particular, the decision in Arch brings some needed clarification to a topic that is generally surrounded […]
Read moreby Emma Cleveland|30 April 2015|Our Thinking
Our key cases glance card contains practical take away points and drafting tips from some of the most notable cases of 2014 in regards to commercial contracts. Should you have any questions regarding any commercial contract matter, Cleveland & Co is here to help.
Read moreby Emma Cleveland|29 April 2015|Our Thinking
On 18 February 2015, the European Commission published a consultation paper seeking responses to a number of questions concerning the effectiveness of the Prospectus Directive. The objective of the paper is to reform and reshape the current prospectus regime in order for it to better serve and facilitate capital raising with a particular focus on […]
Read moreby Emma Cleveland|9 April 2015|Our Thinking
On 24 March 2015 the Financial Conduct Authority set out the key areas of work it will undertake in the forthcoming financial year with the publication of its Business Plan for 2015/16. This is also the first year that its Risk outlook is published as part of the Business Plan. The Chief Executive of the […]
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