by Emma Cleveland|14 December 2017|Our News
UK asset managers will not have comply with a stringent new personal accountability regime until mid-2019 at the earliest, the local regulator has indicated. The announcement from the Financial Conduct Authority gives welcome breathing space to asset managers as they grapple with a host of regulatory priorities, such as Mifid II and General Data Protection […]
Read moreby Leela|11 December 2017|Industry News
On 24 November 2017, the Joint Committee of the European Supervisory Authorities (the “Committee”) issued a statement (the “ESAs Statement”) acknowledging the challenges of the requirement under the European Market Infrastructure Regulation (“EMIR”) to collateralise physically settled foreign exchange (“FX”) forwards, faced by certain end-users of these types of derivatives.[1] The ESAs Statement also sets […]
Read moreby Leela|30 November 2017|Industry News
On 21 November 2017, ESMA added 2 new questions and answers to its Q&A (the “Q&A”) on the Market Abuse Regulation (“MAR”). The purpose of the Q&A is to provide clarity on the practical application of MAR with the aim of promoting a common supervisory approach. The latest updates to the Q&A have been made […]
Read moreby Leela|30 November 2017|Industry News
Whilst derivatives market players are running at full throttle to implement all measures required under the European Market Infrastructure Regulation (“EMIR”) in advance of the next regulatory deadline which will require the collateralisation of physically settled foreign exchange (“FX”) forwards as from 3 January 2018 (“FX Deadline”), the European Supervisory Authorities (“ESAs”), regulators and firms […]
Read moreby Leela|30 November 2017|Industry News
MiFID II comes into force from 3 January 2018, and introduces a new model (replacing the current commission sharing arrangements) under which research provided by a third party to an investment firm must be paid for. Therefore, firms can no longer be provided with research without additional charges as part of another service (such as execution […]
Read moreby Leela|29 November 2017|Industry News
The European Securities and Markets Authority (“ESMA”) has issued two warning statements on initial coin offerings (“ICOs”), one on the risks of ICOs for investors and one on the rules applicable to firms involved in ICOs. ESMA is concerned about the rapid growth in ICOs globally and that both investors and firms may be unaware […]
Read moreby Leela|24 October 2017|Industry News
In November, the FCA will be launching an Asset Management Authorisation Hub (the “Hub”) designed to assist new firms through the FCA authorisation process. In 2016 alone, the FCA approved 204 authorisation applications for asset managers. The establishment of this Hub comes as a result of criticism that regulators and applicable rules can make it […]
Read moreby Leela|24 October 2017|Industry News
A recent report from the European Commission (“EC”) covering the final stages of its Capital Markets Union (“CMU”) initiative (a key initiative for Europe) aims to ease managers’ capacity to lend to and invest in European businesses. The EC’s vice-president Valdis Dombrovskis said “we want to create the right conditions for more funding to flow to […]
Read moreby Leela|24 October 2017|Awards
We are very proud to announce that Emma Cleveland is a finalist for the categories: Mentor of the Year; and Team Leader of the Year, in the Investment Week’s Women in Investment Awards 2017. The awards recognise the achievements of women who have helped support women in the workplace, especially in an industry where they are […]
Read moreby Leela|24 October 2017|Industry News
A record 3,730 suspicious transaction and order reports (“STORs”) of suspected insider dealing and market manipulation have been submitted to the FCA in the first 9 months of this year*, 24% more than in all of 2016 (3,008). Banks, brokers and regulated firms have to report suspected insider dealing and market manipulation, like those that […]
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