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News & Insights

FCA speech on LIBOR transition

by Leela|28 September 2021|Industry News

BACKGROUND On 5 July 2021, Edwin Schooling Latter, the Director of Markets and Wholesale Policy at the Financial Conduct Authority (the “FCA”) gave a speech on the transition from the London Interbank Offered Rate (“LIBOR”), which was first raised by Andrew Bailey four years ago. WHAT IS LIBOR? LIBOR is a benchmark interest rate used […]

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UK: Emma Cleveland shortlisted in the prestigious “Legal Adviser of the Year” category in the Women in Finance Awards 2021

by Leela|16 September 2021|Awards

Emma Cleveland has been shortlisted in the prestigious “Legal Adviser of the Year” category in the Women in Finance Awards 2021 The award celebrate the corporate lawyer or in-house legal counsel that has broken down barriers to advancement in the firm and wider legal sector, as well as paved the way for diversity in leadership. The […]

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FCA review activities of host authorised fund management firms

by Leela|7 September 2021|Industry News

On 30 June 2021, the Financial Conduct Authority (the “FCA”) published its findings following a multi-firm review on host authorised fund managers (“AFMs”) who outsource investment management to external third parties. The FCA visited a selection of host AFMs between Q4 2019 to Q4 2020 with the aim to assess the effectiveness of the governance, […]

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UK: C&Co shortlisted for Boutique Law Firm of the Year 2021

by Leela|26 August 2021|Awards

Cleveland & Co are thrilled to announce that we have been shortlisted for Boutique Law Firm of the Year in the 2021 British Legal Awards. The award celebrates outstanding achievements by boutique law firms over the past 12-18 months and how they are leaders in their chosen markers in the legal profession. Click here to […]

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Cleveland & Co featured in The History of Parliament Trust book on British leadership and innovation

by Leela|25 August 2021|Industry News

Cleveland & Co are delighted to be featured in the chapter dedicated to Women in Leadership of the official History of Parliament Trust publication entitled ‘300 Years of Leadership and Innovation’, which celebrates socially conscious and ethical leaders and Her Majesty The Queen’s life’s work as one of our greatest female leaders. As a specialist […]

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Case Law: Do UK businesses need to appoint an EU data protection representative?

by Leela|12 August 2021|Industry News

The Dutch Data Protection Authority (the “DPA”) has recently imposed a fine of €525,000 on Locatefamily.com (“Locate Family”) following its failure to appoint a European Union (“EU”) data representative. The failure has led to a delay in mitigating a breach under the General Data Protection Regulation (“GDPR”). This was the first enforcement taken by the […]

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European Commission fines investment banks for collusive behaviour involving government bonds cartel

by Leela|4 August 2021|Industry News

SUMMARY AND KEY HIGHLIGHTS On 20 May 2021, the European Commission (“EC”) announced that it has decided that Bank of America, Natixis, Nomura, RBS (now NatWest), UBS, UniCredit and WestLB (now Portigon) (the “Investment Banks“) have all breached EU antitrust rules of the Treaty on the Functioning of the European Union (“TFEU”) [1]. According to […]

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ESMA guidelines for funds’ marketing communications

by Leela|22 July 2021|Industry News

Earlier this year, the European Securities and Markets Authority (“ESMA”) published its final report, ESMA34-45-1244, (the “Final Report”) relating to guidelines on the requirements for marketing communications sent to investors (the “Guidelines”), supplementing the Directive on cross-border distribution of collective investment undertakings (EU) 2019/1160) (the “Regulation”), and capturing the following vehicles: alternative investment funds (“AIFs”); European […]

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