Our Thinking · Regulatory & Compliance
Background The Fair and Effective Markets Review (the “Review”) was launched by the Chancellor of the Exchequer and the Governor of the Bank of England in June 2014 for two main reasons: to reinforce confidence in the wholesale Fixed Income, Currency and Commodities (“FICC”) markets in light of the misconduct issues which have been prevalent […]
Our Thinking · Regulatory & Compliance
In his speech, Mr Carney focuses on the importance of the UK’s markets in serving our economy and outlines how the markets create new opportunities for UK businesses and savers. Much of the activity in our economy is reliant upon the fixed income, currency and commodity markets (“FICC”) and the stability of these markets has […]
Our Thinking · Regulatory & Compliance
In his speech at the Future of Financial Services event in London, Mr Wheatley discusses how innovation, competition and regulation can be effectively managed to benefit both consumers and businesses. Mr Wheatley argues that we need effective regulation that protects consumers but which doesn’t stifle innovation, because innovation creates competition in business which is beneficial to […]
Our Thinking · Regulatory & Compliance
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.
Our Thinking · Regulatory & Compliance
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.
Our Thinking · Regulatory & Compliance
On 28 April 2015, the Investment Association published their Statement of Principles for Investment Managers. The Principles aim to set out behaviours which go beyond the regulatory requirements of “treating consumers fairly” by seeking to “represent a culture of excellence for investment managers in helping clients succeed in their financial goals”.
Our Thinking · Regulatory & Compliance
An MTF, even though sometimes referred to as ‘male-to-female’, for the purpose of this article means Multilateral Trading Facility. MTFs are non-exchange financial trading venues which are often used as alternatives to traditional stock exchanges.
Our Thinking · Public Funds · Regulatory & Compliance
On 14 April 2015 the FCA published a notice against two subsidiaries of Bank of New York Mellon Group, referred to as “the Firms”, issuing them with a record financial penalty of £126,000,000 for failing to comply with the FCA Client Assets Sourcebook (Custody Rules, or CASS), which applies to safe custody assets and to […]
Our Thinking · Public Funds
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 […]
Our Thinking · Public Funds
Shortly after the enactment (Feb/March 2015) of the Irish Collective Asset-management Vehicle Bill 2014 (the “Bill”) and innovative investment vehicle called an Irish Collective Asset-Management Vehicle (“ICAV”) will be made available. ICAVs are tailor made corporate fund vehicles for both UCITs and AIFs which provide a pro-active approach to meeting the evolving needs of fund […]
When regulation shifts, our General Counsel set out what has changed for your firm and the steps we recommend you take.
We use cookies to analyse site traffic and improve your experience. You can accept or reject analytics cookies. See our Cookie Policy.