by Emma Cleveland|24 May 2018|Our Thinking
In recent years and, in particular, recent months, cryptocurrencies and cryptocurrency funds have exploded in terms of discussion and popularity. On Tuesday 28 November 2017, the value of a bitcoin reached $10,000 for the first time, marking an 850% increase from the start of 2017. Since then, there have been considerable fluctuations in the value […]
Read moreby Emma Cleveland|23 May 2018|Industry News
Australian and UK governments have signed an enhanced cooperation agreement (the “Enhanced Agreement”) on FinTech innovation. Under the new Enhanced Agreement the Australian Securities & Investment Commission (“ASIC”) and the Financial Conduct Authority (“FCA”) will continue to refer innovative FinTech businesses to each other for advice and support via their respective Innovation Hubs. The Innovation […]
Read moreby Emma Cleveland|20 May 2018|Our Thinking
The IOSCO has published a Consultation Report with the aim of proposing guidance to address the potential conflict of interest and associated conduct risks in the equity capital fundraising process. The Guidance reflects an expectation of high standards of conduct by market intermediaries and though it is not binding, IOSCO encourages its members to consider the […]
Read moreby Emma Cleveland|17 May 2018|Industry News
In August 2017, the FCA published consultation paper CP17/28 (the “Consultation Paper”) which sets out several proposals designed to support the retail investment advice sector. These included amendments to the FCA’s Perimeter Guidance Manual (“PERG”) on what amounts to a personal recommendation in order to meet the Financial Advice Market Review (“FAMR”) recommendation to produce […]
Read moreby Emma Cleveland|15 May 2018|Industry News
On 12 March 2018, the FCA published its Discussion Paper: Transforming Culture in Financial Services (DP18/2) (the “Discussion Paper”), that presents a series of views from academics and industry thought leaders. The intention behind the Discussion Paper is to provide a basis for all those interested in financial services to consider the issues and engage […]
Read moreby Emma Cleveland|2 May 2018|Our Thinking
Criticism of the FCA’s new asset management rules has been featured in City Am. We are concerned that the cost of charges would deter new firms from entering the market. Our views on this topic have been featured in CityAM below.
Read moreby Emma Cleveland|1 May 2018|Industry News
On 12 March 2018, the European Commission (the “Commission”) published draft proposals aimed at removing certain regulatory and administrative barriers to the cross-border distribution of alternative investment funds (“AIFs”) and undertakings for collective investment in transferable securities (“UCITS”). The changes are an attempt to remove overly complex and burdensome requirements, improve transparency and harmonise divergent […]
Read moreby Emma Cleveland|26 April 2018|Our Thinking
Our guide highlights the key 2017 legal developments that may impact the investment funds industry in 2018, and covers the following areas: Private funds Listed funds Regulation Brexit Please click below to access the Guide.
Read moreby Emma Cleveland|26 April 2018|Our Thinking
On 29 March 2017, the UK submitted the notification of its intention to withdraw from the European Union pursuant to Article 50 of the Treaty on European Union. In light of this, we set out in the attached newsletter: what UK financial services firms can do to prepare for and capitalise on Brexit; and some possible outcomes […]
Read moreby Emma Cleveland|26 April 2018|Industry News
The Financial Conduct Authority (“FCA”) has published Handbook Notice 48, setting out the changes made to the FCA Handbook under the following instruments that were made by the FCA board in September and October of 2017, such as the Financial Services Compensation Scheme (Funding and Scope) Instrument (“FCA 2017/58”). What is the Financial Services Compensation Scheme […]
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