Jurisdiction

Europe

FCA consultation paper on strengthening financial promotion rules for higher risk investments

by Emma Cleveland|24 February 2022|Industry News

HIGHER RISK INVESTMENT (“HRI“) STRATEGY STATEMENT In September 2021, the FCA published a Strategy Statement in relation to HRIs. The FCA describe HRIs as opportunities whereby high returns are being promised, and although product names and descriptions change frequently, examples of HRIs might include: high return bonds or mini-bonds often advertised as eligible to be […]

Changes proposed to the UK’s Financial Promotion Regime

by Leela|17 February 2022|Industry News

Investment opportunities have become increasingly complex, digitalised and riddled with riskier products which has become further heightened by use of social media. This has proven problematic for the UK’s financial promotion regime (the “FPR”) in terms of how it can ensure that consumers are getting information fit for informed investment decision making. The consensus is […]

LIBOR Transition update

by Leela|9 February 2022|Industry News

SUMMARY As of 4 January 2022, the phase out of the London Interbank Offered Rate (“LIBOR”) has culminated in the cessation of: all Euro (“EUR”) and Swiss Franc (“CHF”) LIBOR settings; the overnight / spot next, 1-week, 2-month and 12-month sterling and Japanese Yen (“YEN”) LIBOR settings; and the 1-week and 2-month US Dollar (“USD”) […]

Warren Mead joins Cleveland & Co as a Board Advisor

by Vicki McEwan|8 February 2022|Industry News

We are thrilled to announce the appointment of Warren Mead as Board Advisor to Cleveland & Co. Warren has over 25 years of in-depth experience in financial services, professional services and fintech and was previously the COO of KPMG’s advisory, tax and legal business. As an ExCo level leader, he has advised on and executed […]

Proposed changes to the Appointed Representatives Regime

by Emma Cleveland|4 February 2022|Industry News

There have been calls for proposed changes to the Appointed Representatives Regime (“AR Regime”) to help mitigate any potential risks and harm that may be caused to consumers and markets. In December 2021, HM Treasury published its Call for Evidence in response to the ‘TSC Lessons from Greensill Capital Inquiry’, which calls for recommendations by […]

Q&A with Kwan Mei to mark her Two Year Anniversary with Cleveland & Co

by Leela|18 November 2021|Our News

To get to know Kwan Mei a little bit more we asked her some quick fire questions: 1. Favourite spot in London and why? The various parks and forests – being out in the open rejuvenates me! 2. Where is your favourite place to travel to? Less ‘glossy’ and culturally rich spots. Previously visited places […]

Cleveland & Co quoted in an article by Financier Worldwide talking about shareholder agreements amid disputes

by Leela|13 November 2021|Our News

Caroline Sheldon, Associate at Cleveland & Co was recently quoted in an article “A path to equanimity: Shareholder Agreements amid disputes” in the Oct-Dec edition of Corporate Disputes magazine, where she highlighted the importance of ensuring the balance of control and power between directors and shareholders and the shareholder decision-making process is clearly defined. Check […]

Website advertisement: offer of securities under EU prospectus regulation

by Leela|10 November 2021|Industry News

In the case of ADCADA Immobilien AG PCC in Konkurs v the Financial Market Authority (Finanzmarktaufsicht) (Case E-10/20) (“ADCADA”) the European Free Trade Association Court considered whether the offer of securities to the public through publicity on the offering firm’s website was made in accordance with the exemption to the requirement to produce a prospectus […]

FCA provides details on consumer investments strategy and feedback statement

by Leela|4 November 2021|Industry News

BACKGROUND On 15 September 2021, the Financial Conduct Authority (“FCA”) published a three-year consumer investment strategy plan (the “Strategy Plan”), in consideration of responses received in relation to its call for input focused on reducing harm in the consumer investment market, circulated a year ago. In this Strategy Plan, the FCA offered more details on […]

Liability of members of a Limited Liability Partnership (“LLP”) to disqualification

by Leela|19 October 2021|Industry News

The High Court dismissed an application (the “Application”) by former members of an LLP to strike out claims against them pursuant to section 6 of the Company Directors Disqualification Act 1986 (“CDDA”) in the case of Re Pottinger Private Limited [2021] EWHC 672 (Ch) (also known as Secretary of State for Business, Energy and Industrial Strategy […]