News & Insights

Our Thinking · Regulatory & Compliance · Europe

FCA discussion paper on transforming culture in financial services

On 12 March 2018, the FCA published its Discussion Paper: Transforming Culture in Financial Services (DP18/2) (the “Discussion Paper”), that presents a series of views from academics and industry thought leaders. The intention behind the Discussion Paper is to provide a basis for all those interested in financial services to consider the issues and engage […]

Emma Cleveland15 May 2018

Our Thinking · Public Funds · Private Funds · Regulatory & Compliance · Europe

Mixed responses to new EU laws for marketing AIFs and UCITS

On 12 March 2018, the European Commission (the “Commission”) published draft proposals aimed at removing certain regulatory and administrative barriers to the cross-border distribution of alternative investment funds (“AIFs”) and undertakings for collective investment in transferable securities (“UCITS”). The changes are an attempt to remove overly complex and burdensome requirements, improve transparency and harmonise divergent […]

Emma Cleveland1 May 2018

Our Thinking · Public Funds · Private Funds · Regulatory & Compliance

Investment funds guide for 2018

Our guide highlights the key 2017 legal developments that may impact the investment funds industry in 2018, and covers the following areas: Private funds Listed funds Regulation Brexit Please click below to access the Guide.

Emma Cleveland26 April 2018

Our Thinking · Regulatory & Compliance

BREXIT and the Financial Services Industry

On 29 March 2017, the UK submitted the notification of its intention to withdraw from the European Union pursuant to Article 50 of the Treaty on European Union. In light of this, we set out in the attached newsletter: what UK financial services firms can do to prepare for and capitalise on Brexit; and some possible outcomes […]

Emma Cleveland26 April 2018

Our Thinking · Regulatory & Compliance · Europe

The Financial Services Compensation Scheme

The Financial Conduct Authority (“FCA”) has published Handbook Notice 48, setting out the changes made to the FCA Handbook under the following instruments that were made by the FCA board in September and October of 2017, such as the Financial Services Compensation Scheme (Funding and Scope) Instrument (“FCA 2017/58”). What is the Financial Services Compensation Scheme […]

Emma Cleveland26 April 2018

Our Thinking · Commercial & Corporate · Europe

Lack of parent company duty of care over subsidiaries in Ogale community v Royal Dutch Shell

The Court of Appeal considered the circumstances where a parent company can be held liable for the acts of its subsidiaries in the judgement Okpabi and others (on behalf of themselves and the people of Ogale Community) v Royal Dutch Shell Plc and another [2018] EWCA Civ 191 (the “Judgement”). In particular, the Judgement considered […]

Emma Cleveland19 April 2018

Our Thinking · Regulatory & Compliance

FRC proposed revised UK corporate governance code

On 5 December 2017, the Financial Reporting Council published a consultation document on its proposals for a ‘shorter and sharper’ revised UK Corporate Governance Code. The UK Corporate Governance Code sets out the standards of good practice for companies in relation to: board leadership and effectiveness; remuneration; accountability; and relations with shareholders. Please click below […]

Emma Cleveland15 April 2018

Our Thinking · Public Funds · Regulatory & Compliance

Outcomes and remedies from the FCA’s Asset Management Market Study

The Financial Conduct Authority (“FCA”) has recently published a consultation paper and policy statement regarding the findings of the Asset Management Market Study (“AMMS”). This Guide outlines the remedies and outcomes from changes to the FCA Handbook through: the Policy Statement (“PS18/8”); and the Consultation Paper (“CP18/9”). The new policy contained with the PS18/8 applies […]

Emma Cleveland12 April 2018

Our Thinking · Europe

HM treasury unveils long term plans to support asset management industry

On 6 December 2017, the Government published the UK Investment Management Strategy II report (the “Report”), which lays out the strategy and long term approach to build on the competitiveness of the UK asset management industry that will inform future government policy for the asset management industry. This Report updates and builds on the original […]

Emma Cleveland3 April 2018

Our Thinking · Regulatory & Compliance · Europe

FCA survey for EEA inbound passported firms

The FCA has launched a survey for relevant firms and fund managers of EEA inbound firms that passport into the UK (the “Survey”). EEA inbound firms are those who have been authorised in an EEA state that are or have been exercising their right to carry on a regulated activity in the UK. An authorised […]

Emma Cleveland28 March 2018

Hear it from a General Counsel

When regulation shifts, our General Counsel set out what has changed for your firm and the steps we recommend you take.