Our Thinking · Public Funds · Regulatory & Compliance · Europe

FCA statement and feedback on its assessment on liquidity mismatch in authorised open-ended property funds

In August 2020 the Financial Conduct Authority (“FCA”) consulted on proposals to reduce the potential for harm to investors from the liquidity mismatch in open-ended property funds (the “Consultation”,”CP20/25”). In particular, the FCA consulted on suggesting a new notice period for redemption in these funds and also asking for alternative proposals. Following this consultation, the […]

Leela12 May 2021

Our Thinking · Regulatory & Compliance · Europe

FCA bans and fines financial adviser £68,300 for lacking in competence and integrity

The Financial Conduct Authority (“FCA”) has prohibited Simon John Varley (“Mr Varley”) from working in the financial sector and imposed a financial penalty of £68,300 for knowingly providing investment advice to retail customers, when he was not registered as a qualified person or an approved person to do so. The FCA found that Mr Varley […]

Leela4 May 2021

Our Thinking · Commercial & Corporate · Europe

European commission issues draft on the uk data adequacy decision

On 19 February 2021, the European Commission (“Commission”) published a draft adequacy decision (“Draft Decision“) in respect of the data protection framework in the United Kingdom (“UK“). The assessment is made both in relation to the EU General Data Protection Regulation 2016/679 (“GDPR“) and the Law Enforcement Directive 2016/680 (“LED“). The adoption of the adequacy decision […]

Leela29 April 2021

Our Thinking · Private Funds · Regulatory & Compliance · Europe

Changes to AIFMD Marketing Rules from August 2021

On 2 August 2021, new pre-marketing rules in respect of alternative investment funds (“AIFs“) will come into force in the European Union (“EU“), via the EU Regulation 2019/1156 and the EU Directive 2019/1160 (the “Revised Rules”). The Revised Rules amend the existing directive on alternative investment fund managers (2011/61 / EU) (“AIFMD”) (as well as […]

Leela28 April 2021

Our Thinking · Regulatory & Compliance · Europe

Case Law: High court holds firm accountable for providing advice without authorisation

At the end of March 2021, the FCA brought their case forward to the High Court against 24HR Trading Limited and Mr Maricar (the “Defendants”) in the case of Financial Conduct Authority v 24Hr Trading Academy Ltd [2021] EWHC648. The FCA’s claims arose from two activities that the Defendants engaged in: the Company or Mr Maricar have, since […]

Leela23 April 2021

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