News & Insights

MIFID II: ESMA supervisory briefing for firms that use tied agents

by Victoria Smith|29 March 2022|Industry News

background The European Securities and Markets Authority (‘ESMA’) is a European supervisory authority that contributes to the safeguarding of a stable and orderly European Union (‘EU‘) financial market by enhancing investor protection. Following Brexit, ESMA has been monitoring the behaviour of EU firms with the aim of understanding if their interaction with clients based in […]

Celebrating Neurodiversity in the workplace

by Victoria Smith|25 March 2022|Our News

WHAT IS NEURODIVERSITY? Neurodiversity describes a community of people who are neurodivergent, specifically used within the context of autism spectrum disorder (“ASD”) and extends to other neurodivergent conditions such as: Attention Deficit/Hyperactivity Disorder (“ADHD”), Dyspraxia (Developmental Coordination Disorder (“DCD”)) and Dyslexia and Dyscalculia. These neurological differences impact on the individuals’ process of information and neurocognitive […]

New Rules – SDR has landed!

by Victoria Smith|24 March 2022|Industry News

SUMMARY The Central Securities Depositories Regulation (“CSDR”) was introduced in 2014 along with MiFID II and EMIR to increase the safety and efficiency of securities settlement and settlement infrastructures within the EU. As of 1 February 2022, CSDR has introduced a new Settlement Discipline Regime (“SDR”) which is a set of common requirements for central […]

CCIVs- ready at last?

by Victoria Smith|21 March 2022|Industry News

the introduction of CCIVs On 10 February 2022, the Corporate Collective Investment Vehicle Framework and Other Measures Bill 2021 (“CCIV”) passed both houses of parliament to amend the Corporations Act 2001. This new framework will commence from 1 July 2022. what is a cciv The long awaited CCIV offers a corporate funds structure which has […]

UK: Cleveland & Co shortlisted for Diversity & Inclusion at Modern Law Awards 2022

by Victoria Smith|17 March 2022|Awards

We are delighted to announce that we have been shortlisted for Diversity & Inclusion at the Access Legal Modern Law Awards 2022! The Modern Law Awards are synonymous with identifying and celebrating the very greatest talent and success stories in the UK legal sector and showcasing the diverse, challenging and exciting landscape of law. Follow […]

Latest update: Electronic signatures

by Victoria Smith|16 March 2022|Industry News

BRIEF BACKGROUND In its report on Electronic Execution of Documents (Law Com No 386) published in 2019 (the “Report”), the Law Commission set out its high level conclusions regarding the validity of electronic signatures (“E-signatures”). They confirmed that: E-signatures are capable of being used to execute a document (including deeds) provided that the signatory intends […]

SM&CR regulatory references: FCA clarification

by Vicki McEwan|10 March 2022|Industry News

FCA RULES AND HANDBOOK Part 9A of the Financial Services and Markets Act 2000 (“FSMA”) provides the Financial Conduct Authority (“FCA”) wide-ranging powers. Under Section 137A the FCA can make legally binding rules for authorised and in some cases, unauthorised firms and individuals. FSMA contains important checks and balances on these powers, including procedures that […]

International Women’s Day 2022 – Q&A with CEO, Emma Cleveland, on ‘Breaking the Bias’!

by Victoria Smith|7 March 2022|Our News

To celebrate International Women’s Day this year, we asked Emma her thoughts on topics such as: diverse teams; how her firm ‘breaks the bias’; and what more needs to be done to support women to achieve their potential. We hope you enjoy! HAVE YOU EXPERIENCED ANY DISCRIMINATION OR BIAS IN YOUR CAREER? Absolutely! Growing up […]

FCA warnings for TPR firms

by Emma Cleveland|7 March 2022|Industry News

Following the Brexit transition period, the temporary permissions regime (“TPR”) was developed to ensure continuity of services for UK customers. The TPR allows European firms operating in the United Kingdom (the “UK“) via a passport to continue operating temporarily while they seek full authorisation before the Financial Conduct Authority (“FCA”). However, in order to remain […]

Review of the use of reverse solicitation by asset managers

by Leela|28 February 2022|Industry News

On 17 December 2021, the European Securities and Markets Authority (“ESMA”) published a letter (the “Letter”) addressed to the European Commission (the “Commission”) as a response to the questions raised by the Commission in their letter dated 24 September 2021. The Commission’s letter related to a consultation on facilitating cross border investment undertakings, which included […]