The FCA has continuously pursued the initiative of increasing transparency in the financial services industry and ensuring the best possible investor outcomes. As part of this initiative, the regulator is seeking to improve complaints handling procedures, by increasing process transparency and encouraging firms to deal more effectively with complaints handling. In the PS15/19 Policy Statement […]
On 2 December 2015, the European Securities in Markets Authority published an update of their Q&A on the Alternative Investment Fund Managers Directive (“AIFMD”). Due to AIFMD’s comprehensive regulatory framework and extensive requirements the cross border management of AIFs can sometimes prove complicated and complex for managers.
In November 2015, as part of the Financial Conduct Authority’s Project Innovate, the FCA published a call for input in regards to supporting the development and adoption of RegTech. With its publication, the regulator aims to help the UK capitalise on the development and commercialisation of new business models and disruptive innovation (collective referred to […]
On 9 November the Financial Stability Board, chaired by Mark Carney, Governor of the Bank of England, published its first annual report to the G20 on the Implementation and effects of the G20 financial regulatory reforms.
In a publication from 10 November 2015, the Financial Conduct Authority (“FCA”) has announced its plans for implementing a ‘regulatory sandbox’ allowing businesses to test out new and innovative financial products, services or business models without incurring all the normal regulatory consequences of engaging in those activities. This publication marks the first anniversary of the […]
The MiFID II Regulatory and Implementing Technical Standards presented to the ESMA Board of Supervisors (“BoS”) on 24 September have now been published. On 22 October 2015 the FCA held a MiFID II Implementation roundtable meeting where the standards along with various matters concerning the regulators approach towards the implementation of the upcoming directive were […]
In a speech held on 19 October 2015, as part of the FCA’s MiFID II conference, David Lawton, the FCA’s Director of Markets Policy and International, talked about the road and steps ahead in regards to the upcoming directive and in particular, the draft technical standards and delegated acts – implementing measures, which are starting […]
On 23 October 2015, HM Treasury published a Consultation on amendments to the UCITS Directive (UCITS V) (the “Consultation”). UCITS V will introduce a number of targeted reforms to the UCITS Directive with the objective of updating the legislative framework in order to ensure the safeguarding of UCITS fund operations across the EU, to lower […]
In the recent case of Worthington and Another v Lloyds Bank plc [2015] EWHC 2836 (QB), the High Court provides a helpful clarification for investment firms providing, and subsequently reviewing, investment advice to clients under the Financial Services and Markets Act 2000 (“FSMA”). The case would be of particular interest to such firms as it […]
On 19 October 2015, as part of the FCA’s MiFID II Conference, David Geale, the FCA’s Director of Policy, delivered a speech on investor protection under MiFID II and, in particular, the ways in which MiFID II will seek to improve investor protection and overall confidence in the markets. Below we have provided summaries of […]
