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News & Insights

Outcomes and remedies from the FCA’s Asset Management Market Study

by Emma Cleveland|12 April 2018|Our Thinking

The Financial Conduct Authority (“FCA”) has recently published a consultation paper and policy statement regarding the findings of the Asset Management Market Study (“AMMS”). This Guide outlines the remedies and outcomes from changes to the FCA Handbook through: the Policy Statement (“PS18/8”); and the Consultation Paper (“CP18/9”). The new policy contained with the PS18/8 applies […]

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HM treasury unveils long term plans to support asset management industry

by Emma Cleveland|3 April 2018|Industry News

On 6 December 2017, the Government published the UK Investment Management Strategy II report (the “Report”), which lays out the strategy and long term approach to build on the competitiveness of the UK asset management industry that will inform future government policy for the asset management industry. This Report updates and builds on the original […]

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FCA survey for EEA inbound passported firms

by Emma Cleveland|28 March 2018|Industry News

The FCA has launched a survey for relevant firms and fund managers of EEA inbound firms that passport into the UK (the “Survey”). EEA inbound firms are those who have been authorised in an EEA state that are or have been exercising their right to carry on a regulated activity in the UK. An authorised […]

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Are you looking for a new challenge?

by Emma Cleveland|22 March 2018|Our News

We are looking to expand our team and have two exciting opportunities: Senior US qualified lawyer Senior lawyer (dual-qualification preferred, but not essential) Experience We are looking for candidates with in-house experience and an excellent knowledge of at least three of the following: investment advisory agreements; trading documentation; custody; administration; mutual funds; private equity funds; […]

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UCTA and standard terms of business – case law update

by Emma Cleveland|21 March 2018|Industry News

UCTA Under the Unfair Contract Terms Act 1977 (“UCTA”), when a party to a business to business (“B2B”) contract deals on its“written standard terms of business”, any term which seeks to limit or exclude that party’s liability for breach of contract, non-performance or performance substantially different from that reasonably expected, must pass the test of […]

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IOSCO recommendations for investment funds

by Emma Cleveland|16 March 2018|Our Thinking

The International Organization of Securities Commissions has published two final reports: Recommendations for liquidity risk management (“LRM”) for Collective Investment Schemes (“CIS”); and Open-ended Fund Liquidity and Risk Management – Good Practices and Issues for Consideration. These contain recommendations that: seek to improve LRM practices of open-ended CIS as part of its mission to protect investors, […]

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International Women’s Day

by Emma Cleveland|12 March 2018|Our News

We were extremely proud to sponsor and attend City Hive’s International Women’s Day celebrations on Thursday 8 March. Emma attended the flagship event which discusses work/life balance and gives women in the sector a chance to network.

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Exclusion Clauses – Fraud exceptions in contracts

by Emma Cleveland|7 March 2018|Our Thinking

On 30 January 2018, the Court of Appeal provided important guidance on the interpretations of exclusion clauses in the case of fraud in Interactive E-Solutions v O3B [2018] EWCA Civ 62. This case shows the Court’s changing approach towards exclusion clauses, with the acceptance that such clauses are an integral part of pricing and risk allocation […]

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