by Emma Cleveland|3 November 2015|Industry News
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 […]
Read moreby Emma Cleveland|29 October 2015|Industry News
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 […]
Read moreby Emma Cleveland|27 October 2015|Industry News
In a speech held on 13 October 2015 Steven Maijoor, the Chair of the European Securities and Markets Authority (“ESMA”), discussed ESMA’s work in relation to the passport under the Alternative Investment Fund Managers Directive (“AIFMD”) in front of the European Parliament’s ECOFIN committee. Some of the key issues covered in Mr Maijoor’s speech included the functioning […]
Read moreby Emma Cleveland|22 October 2015|Industry News
On 1 October 2015, the European Securities in Markets Authority (“ESMA”) updated their Q&A on the application of the Alternative Investment Fund Managers Directive (“AIFMD”) in relation to depositaries.
Read moreby Emma Cleveland|20 October 2015|Industry News
In a publication issued on 9 October 2015, the HM Treasury and the Financial Conduct Authority (“FCA”) announced a call for input in regards to their Financial Advice Market Review (“FAMR”) which aims to look at how financial advice could work better for consumers (the “Consultation”).
Read moreby Emma Cleveland|14 October 2015|Industry News
On 30 September 2015, the European Commission (the “Commission”) published their Capital Markets Union (“CMU”) action plan on helping build a true single market across the 28 EU Member States and unlocking a free flow of capital throughout. Some of the key motivations for the launch of the CMU are to create a more favourable […]
Read moreby Emma Cleveland|7 October 2015|Industry News
On 16 September 2015, in a speech by Greg Medcraft, Chairman of the Australian Securities and Investments Commission (“ASIC”) and Chairman of the International Organization of Securities Commissions (“IOSCO”), the key topic of discussion was the future of the financial markets and the impact that technological innovation has had and will have on them. In […]
Read moreby Emma Cleveland|30 September 2015|Industry News
In two publications from 18 September 2015, the FCA discuss their principles and approach to supervision of flexible and fixed portfolio firms. The FCA’s publications will be of interest to both types of firms in regards to fulfilling their regulatory obligations and ensuring their investors’ best interests are sufficiently addressed.
Read moreby Emma Cleveland|24 September 2015|Industry News
With around 35% of all assets managed in Europe being managed in the UK, the UK is a leading centre for fund management. The UK’s private equity and venture capital industry has continued to be the largest in Europe for a number of years and is accountable for more than €34 billion in investments being […]
Read moreby Emma Cleveland|22 September 2015|Our Thinking
UCITS account for around 75% of all collective investments by small investors in Europe and so UCITS V will have a significant impact on a major part of the industry. With implementation planned for March 2018, it is important that firms prepare for the forthcoming changes that will need to be made to ie. their fund […]
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