by Emma Cleveland | 2015-06-30 | Industry News
In his speech at the Future of Financial Services event in London, Mr Wheatley discusses how innovation, competition and regulation can be effectively managed to benefit both consumers and businesses. Mr Wheatley argues that we need effective regulation that protects...
by Emma Cleveland | 2015-06-16 | Our Thinking
The Prudential Regulation Authority (“PRA”) has recently published a supervisory statement that identifies the key aspects of board governance that PRA-regulated firms should pay attention to, as they are the aspects which the PRA sees as particularly important to...
by Emma Cleveland | 2015-06-11 | Our Thinking
On 3 January 2017, MiFID II will be implemented with far-reaching implications for many financial services firms. Firms may be concerned about the compliance changes required and the time it may take to ensure they are fully prepared come January. It is important that...
by Emma Cleveland | 2015-05-27 | Industry News
On 28 April 2015, the Investment Association published their Statement of Principles for Investment Managers. The Principles aim to set out behaviours which go beyond the regulatory requirements of “treating consumers fairly” by seeking to “represent a culture of...
by Emma Cleveland | 2015-05-26 | Industry News
An MTF, even though sometimes referred to as ‘male-to-female’, for the purpose of this article means Multilateral Trading Facility. MTFs are non-exchange financial trading venues which are often used as alternatives to traditional stock exchanges. In 2014 the FCA...
by Emma Cleveland | 2015-05-26 | Industry News
On 14 April 2015 the FCA published a notice against two subsidiaries of Bank of New York Mellon Group, referred to as “the Firms”, issuing them with a record financial penalty of £126,000,000 for failing to comply with the FCA Client Assets Sourcebook (Custody Rules,...
by Emma Cleveland | 2015-05-14 | Our Thinking
The recent case of SPL Private Finance v Arch FP 2014 has served as somewhat of a reminder that investment managers are not always outside of the scope of fiduciary obligations, despite attempts to exclude such in contract. In particular, the decision in Arch brings...
by Emma Cleveland | 2015-05-12 | Industry News
Shortly after the enactment (Feb/March 2015) of the Irish Collective Asset-management Vehicle Bill 2014 (the “Bill”) and innovative investment vehicle called an Irish Collective Asset-Management Vehicle (“ICAV”) will be made available. ICAVs are tailor made corporate...
by Emma Cleveland | 2015-04-30 | Our Thinking
Our key cases glance card contains practical take away points and drafting tips from some of the most notable cases of 2014 in regards to commercial contracts. Should you have any questions regarding any commercial contract matter, Cleveland & Co is here to help....
by Emma Cleveland | 2015-04-29 | Our Thinking
On 18 February 2015, the European Commission published a consultation paper seeking responses to a number of questions concerning the effectiveness of the Prospectus Directive. The objective of the paper is to reform and reshape the current prospectus regime in order...
