Our Thinking · Commercial & Corporate
The distinction between Negligence and Gross Negligence in English contract law has been an issue in many commercial contracts for over a century. In order to reduce the confusion surrounding such matters we have written a brief of the leading case law on the matter and the most recent definition of Gross Negligence provided by […]
Our Thinking
The fiduciary relationship between a lawyer and their client is at the core of the English legal system. Regardless of its paramount importance to the proper functioning of the legal services industry, a degree of confusion remains around the particular duties owed by a fiduciary. For an explanation of the nature of fiduciary duties in […]
Our Thinking · Investments & Capital Markets · Regulatory & Compliance
The FCA has recently completed its thematic review on best execution and payment for order flow (“PFOF”). The TR14/13 report expresses the regulator’s growing concern with PFOF arrangements and their popularity amongst firms. Firms owe a regulatory duty to their clients as agents to obtain the best possible execution (take all reasonable steps to obtain) […]
Our Thinking · Public Funds · Regulatory & Compliance
On 10 October the International Organization of Securities Commissions (IOSCO) published a consultation report on principles regarding the Custody of Collective Investment Schemes’ Assets. The aim of the report is to gather views of investment managers, custodians, institutional investors and other interested parties on the development of a set of principles for the custody of Collective […]
Our Thinking · Regulatory & Compliance
The FCA has opened its Innovation Hub as part of Project Innovate. Project Innovate is aimed at supporting innovators to foster competition and growth of both large and small businesses, which offer an innovative product or service to consumers. The Innovation Hub will consist of a team of dedicated FCA staff who will offer direct […]
Our Thinking · Investments & Capital Markets · Regulatory & Compliance
In a speech at the British Bankers’ Association’s (“BBA”) Market Abuse Conference on the 7th of October, Patrick Spens, the FCA’s Head of Market Monitoring, addressed the regulator’s concern with, and ongoing pursuit of, market abuse. Mr Spens outlined that market abuse remains a high priority for the FCA as it is integral to maintaining […]
Our Thinking · Regulatory & Compliance
Find everything you need to know about the new dealing commission rules and the impact on your commission sharing agreements in our attached Glance Card. It also offers insight into potential changes in the future in light of the FCA’s recently released discussion paper 14/3 and MiFID II.
Our Thinking · Regulatory & Compliance
On 1 October 2014 the European Securities and Markets Authority (ESMA) published its Work Programme for the upcoming year. In it ESMA has set out four operational objectives: supervision, the single rulebook, convergence, and risk monitoring analysis.
Our Thinking · Regulatory & Compliance
In a response to the Treasury Select Committee’s inquiry on SMEs, Sean Martin, General Counsel of the FCA, has issued a letter to Andrew Tyrie, published on 19 September 2014, in which he has explained the legal opinions used by the FCA in their decision to treat loans similar to interest rate hedging products (IRHPs) […]
Our Thinking · Investments & Capital Markets · Regulatory & Compliance
In a letter to Andrew Tyrie dated 19 September 2014, the FCA’s CEO, Martin Wheatley, has expressed the regulator’s concern with high-frequency trading (“HFT”) and dark pools. Mr Wheathley has confirmed that the FCA is looking to implement provisions in the new MiFID II, which would preserve the integrity of the market and alleviate the […]
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.