by Victoria Smith | 2022-08-25 | Our Thinking
summary On 27 July 2022, the Financial Conduct Authority (“FCA”) published a Policy Statement 22/9 (‘‘PS22/9’’), and provided feedback to its December Consultation Paper 21/36 (‘‘CP21/36’’), setting out the final updated rules on the new Consumer Duty (the “Duty”)...
by Victoria Smith | 2022-08-17 | Our News
As part of our ‘Meet the Team’ series, over the next few weeks we will be featuring Q&As with our amazing trainee cohort. Today, we are delighted to introduce you to Rebecca Solomon who joined us initially as a paralegal and then was accepted on our...
by Victoria Smith | 2022-08-17 | Our Thinking, Templates & Guidance
The Financial Conduct Authority (“FCA”) has confirmed new rules to improve oversight of Appointed Representatives (“AR”), which will take effect on 8 December 2022 (“New Rules”). The AR regime is set in primary legislation and allows unauthorised firms to engage in...
by Victoria Smith | 2022-08-16 | Our Thinking
On 25 July 2022, the European Commission (the “Commission”) published the Commission Delegated Regulation (EU) 2022/1288 (the “Regulation”) in the Official Journal, setting out the details of the Regulatory Technical Standards (the “RTS”) relating to the Sustainable...
by Victoria Smith | 2022-08-08 | Our Thinking
summary The Australian Securities and Investments Commission (“ASIC”) released two key materials regarding the licencing and additional requirements for corporate collective investment vehicles (“CCIVs”), effective from 1 June 2022. ASIC initially published CP360:...
by Victoria Smith | 2022-08-04 | Templates & Guidance
Did you know that if you are a fund manager considering raising funds or providing other financial services in Australia, you may qualify for relief as a “Foreign Financial Services Provider” based on your having FCA authorisations? The Australian Securities and...
by Victoria Smith | 2022-08-04 | Our News
At Cleveland & Co we love to celebrate our people and their successes. We’re delighted that Helin Genc, a member of our Legal team, has passed her LPC and is now a step closer to qualifying as a solicitor in England & Wales! To celebrate we sat down and asked...
by Victoria Smith | 2022-08-03 | Our Thinking
On 29 April 2021, the Financial Services Act 2021 (the “FSA 2021”) received Royal Assent. The main purpose of the FSA 2021 is to set forth a regulatory framework for financial services in the United Kingdom (“UK”) fit for today’s world. Following the wave of changes...
by Vicki McEwan | 2022-07-27 | Our Thinking
On 18 July 2022, the Financial Conduct Authority (“FCA”) published its Handbook Notice No.101, addressing the changes to its Handbook (the “Handbook”), along with relevant consultation feedback. The following instruments were introduced on the 23 June and 15 July...
by Victoria Smith | 2022-07-20 | Our Thinking
background The European Commission (“EU Commission”), the European Securities and Market Authority (“ESMA”) and the European Supervisory Authorities (“ESA”) have recently published new (and eagerly anticipated) guidance for fund management companies on...
