News & Insights

Investment Association and AFME revise framework for indications of interest

by Emma Cleveland|12 April 2017|Industry News

The Investment Association (which represents Investment Managers) and the Association for Financial Markets in Europe (the trade body that represents banks and brokers) (together, the “Associations”) have published a new code of conduct for the communication of indications of interest (“IOIs”) which marks a milestone in the relationship between the investment and broking industries. IOIs are […]

FCA concerns about investment managers and best execution

by Emma Cleveland|6 April 2017|Our Thinking

The FCA expects firms to deliver consistent best execution for their clients and have a strategy to ensure that all relevant parts of the business are compliant in ensuring best execution. The FCA expects a clear management responsibility and co-ordination between the front office and compliance to ensure a robust monitoring framework. The FCA has […]

Basel Committee second consultation on guidelines for identification and management of step-in risk

by Emma Cleveland|4 April 2017|Industry News

The Basel Committee (the “Committee”) has recently published a second consultation on guidelines for identification and management of step-in risk, which follows on from a previous consultation issued in December 2015. The previous consultation set out a framework for banks to deal with “step-in risks” (defined as a risk that a bank decides to provide […]

ARE YOU LOOKING FOR A FRESH CHALLENGE? – 2 year qualified lawyer – 12 month contract

by Emma Cleveland|30 March 2017|Our News

We conduct our business with honesty and integrity, maintaining high technical standards that have been proven globally. To support our client relationships, and help our business expand and reach its full potential, we believe in attracting and retaining competent, experienced and talented professionals, that are positive, love change, respect people and take responsibility. We are looking […]

FCA’s expectations: use of dealing commissions

by Emma Cleveland|29 March 2017|Our Thinking

In 2014, the FCA published a discussion paper on the use of dealing commission regime and a policy statement on the use of dealing commission rules. The discussion paper in particular sets out good and poor practices and on that basis, the FCA decided to visit 17 firms to assess their dealing commission arrangements and […]

ESMA Opinion: principles for setting up share classes in UCITS funds

by Emma Cleveland|23 March 2017|Our Thinking

On 30 January 2017, ESMA issued an opinion (the “Opinion”) which discusses the extent to which different types of units or shares (“Share Classes”) of the same UCITS (or its sub-fund) can differ from one another as a result of differing approaches amongst the EU countries. We have produced a glance card which summarises the […]

UK: Emma Cleveland nominated in the WeAreTheCity Rising Star Champion Award 2017

by Emma Cleveland|22 March 2017|Awards

We are thrilled to announce that Emma Cleveland has been nominated for a WeAreTheCity Rising Star Champion Award! Further details are below: @watc_updates 2017 Rising Star Champion Award #watctop100 The Awards Shortlist is to be announced on 15 May, so please watch this space for more information!

FCA’s Consultation paper: Reviewing the funding of the financial services compensation scheme, Chapter 7 – reviewing the funding classes and smoothing costs

by Emma Cleveland|22 March 2017|Industry News

In 2015/2016 The Financial Services Compensation Scheme (“FSCS”) paid out £271m in compensation to consumers and received over 46,000 new claims. Firms from across the financial services industry pay levies to fund both the FSCS’s operating costs and the compensation it pays out. The FCA’s Consultation Paper 16/42 sets out for discussion a range of […]

FCA handbook changes to implement the revised payment services directive (“PSD2”)

by Emma Cleveland|16 March 2017|Industry News

The FCA is expected to consult in early Q2 2017 on guidance and Handbook rule changes to implement the PSD2. The original Payment Services Directive (“PSD”) was introduced in 2007 and was implemented in the UK in 2009 through the Payment Services Regulations (“PSRs”). Its aims were to: create a single market for payments in the European […]

HM Treasury – Policy Statement on transposition of MiFID II

by Emma Cleveland|15 March 2017|Our Thinking

HM Treasury has published its Policy Statement (“Statement”) regarding the transposition of MiFID II. The Statement follows HM Treasury’s earlier Consultation Paper that was published in March 2015. The Statement contains a summary of the responses submitted and the government’s response to the consultation. Please click below document to access further information: