News & Insights

Brexit update: FCA extends deadline; EU Commission clarifies equivalence decision; Czech Republic and Malta approve no deal laws

by Leela|11 November 2019|Our Thinking

With the EU granting the UK another flexible extension of the negotiation period around the UKs withdrawal from the EU until the 31 January 2020 and a general election on 12 December 2019, the situation remains uncertain with a no deal Brexit remaining a possibility. It therefore makes sense to continue to monitor the current status […]

UK: Emma Cleveland shortlisted in the British Legal Week Awards 2019

by Leela|1 October 2019|Awards

Huge congratulations to our Managing Director, Emma Cleveland, for being shortlisted in the 2019 British Legal Awards hosted by Legal Week, amongst such a fantastic group of women in the category for Women in Law Award – Wider Industry! The British Legal Awards are the leading awards for the UK’s business law community and highlight the […]

Thomas Cook’s collapse: a legal case analysis about compulsory liquidation

by Leela|27 September 2019|Industry News

On 23 September 2019, the Thomas Cook Group plc (“Thomas Cook”), a world-renowned holding travel group, consisting of nineteen companies, entered insolvency as it was approaching the end of its cash flows and therefore unable to pay its liabilities. As a result, the high court issued an order for the group to be compulsorily liquidated. […]

Key updates to the new Prospectus Regulation

by Leela|9 September 2019|Industry News

The new Prospectus Regulation (EU) 2017/1129 came into effect on 21 July 2019 (the “Prospectus Regulation”) which repealed and replaced the current Prospectus Directive 2003/71/EC (the “Prospectus Directive”). As a result, new prospectuses approved after 21 July 2019, must follow the new regulations and structures of the Prospectus Directive. THE REGIME The […]

Emma Cleveland quoted in an article by Ignites Europe talking about increasing regulatory data costs

by Leela|28 August 2019|Industry News

Our Managing Director was recently quoted in an article, “Asset managers face mounting regulatory data costs” by Ignites Europe talking about exponential data costs coupled with the number of licences firms need resulting in increasing costs per year as well as the latest ESMA consultation paper looking into the issue! Check out the article on https://igniteseurope.com

Brexit update: No deal preparations – Ireland and Italy clarify no deal laws

by Leela|20 August 2019|Industry News

Following on from our Brexit series which focused on the updated no deal measures in the United Kingdom (“UK”) and in the European Union (‘EU”), this article focuses on the updated no deal measures in Italy and Ireland. In light of how quickly the developments surrounding Brexit evolve, preparations for a no deal Brexit […]

FCA publishes Consultation Paper on the prohibition of sale to Retail Clients of certain investment products that reference Cryptoassets

by Caroline Sheldon|26 July 2019|Industry News

Earlier this month the Financial Conduct Authority (“FCA”) published a consultation paper on prohibiting the sale to retail clients of investment products that reference crytpoassets (“Consultation Paper”). The Consultation Paper proposes a ban on marketing, distribution and sales of all derivatives and exchange traded notes (“ETNs”) that reference unregulated transferable cryptoassets by firms acting in, […]

ESMA launches consultation on cost of market data and consolidated tape

by Caroline Sheldon|26 July 2019|Industry News

THE CONSULTATION The European Securities and Markets Authority (“ESMA”), launches a public consultation on the development in prices for pre and post trade data and post-trade consolidated tape (“CT”) for equity instruments. Whilst MiFID II sets out the legal framework for operating a CT, to date no CT has been established, meaning MiFID II has […]

FCA Review of Principal firms and their Appointed Representatives

by Leela|8 July 2019|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 included a survey of 338 Principals each with between 1 and 80 ARs. Of the 338 Principals, […]

FCA grants first licence to Crypto Hedge Fund

by Caroline Sheldon|3 July 2019|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 that the licence will enable the cryptocurrency focussed firm to operate as […]