by Leela | 2019-07-08 | Industry News
In May 2019, the Financial Conduct Authority (the “FCA”) published their findings of a review they carried out with respect to principal firms (“Principals”) and their appointed representatives (“ARs”) within the investment management sector (the “Review”). The Review...
by Caroline Sheldon | 2019-07-03 | Industry News
A UK based crypto currency hedge fund is the first investment firm in the UK to receive full-scope authorisation from the financial regulator, the Financial Conduct Authority (“FCA”). THE LICENCE In a Bloomberg report published on 2 July 2019, it has been confirmed...
by Caroline Sheldon | 2019-06-28 | Our Thinking
With a no deal Brexit remaining a possibility, the UK, the EU and individual EU members continue to review their regimes and the measure that will be put in place in the event of a no deal scenario. This article forms part of the Cleveland & Co Brexit series and...
by Leela | 2019-06-26 | Industry News
In the recent case of, The State of the Netherlands (the “State of the Netherlands”) and Deutsche Bank AG (“DB”)[2019], the Court of Appeal (the “Court”) has confirmed that negative interest is not payable by the party transferring cash...
by Caroline Sheldon | 2019-06-07 | Industry News
BACKGROUND As a consequence of the London Interbank Offered Rate (“LIBOR”) scandal in which several bankers at many major financial institutions manipulated LIBOR by reporting artificially low or high interest rates to benefit their derivative traders, undermining a...
by Leela | 2019-06-05 | Industry News
The High Court (the “Court”) recently found in favour of the Financial Conduct Authority (“FCA”) resolving that an unauthorised investment scheme must pay almost £1 million to the FCA to be re-distributed to investors as a result of several breaches by both the firm...
by Leela | 2019-05-29 | Industry News
On 14 May 2019, the Court of Appeals ruled the case Times Travel (UK) Ltd. (“Times Travel”) v Pakistan International Airlines Corporation (“PIAC”) and decided that the economic pressure exerted by PIAC against Times Travel in that context was lawful and not considered...
by Leela | 2019-05-17 | Our Thinking
The final text to amend technical aspects of the European Market Infrastructure Regulation (the “EMIR Refit”) could enter into force in May/June and will be directly applicable to the UK and to all its financial and non-financial counterparties. Changes to the...
by Leela | 2019-05-16 | Our News
After weeks of hard work and dedication, Cleveland & Co are pleased to officially announce the launch of our newly designed website and newsletter! Our new website provides a clear message of who we are and where our values lie when developing, maintaining and...
by Leela | 2019-05-07 | Industry News
The execution of contracts is a task often overlooked. Even after maximum effort has been exerted to negotiate a deal, and draft a contract, a slip at the final hurdle could cost millions. Mistakes in executing a contract particularly a deed, can result in: an...
