International 2026 — Meet us there
by Emma Cleveland|5 November 2014|Industry News
The FCA has recently completed its thematic review on best execution and payment for order flow (“PFOF”). The TR14/13 report expresses the regulator’s growing concern with PFOF arrangements and their popularity amongst firms. Firms owe a regulatory duty to their clients as agents to obtain the best possible execution (take all reasonable steps to obtain) […]
Read moreby Emma Cleveland|4 November 2014|Industry News
On 10 October the International Organization of Securities Commissions (IOSCO) published a consultation report on principles regarding the Custody of Collective Investment Schemes’ Assets. The aim of the report is to gather views of investment managers, custodians, institutional investors and other interested parties on the development of a set of principles for the custody of Collective […]
Read moreby Emma Cleveland|30 October 2014|Industry News
The FCA has opened its Innovation Hub as part of Project Innovate. Project Innovate is aimed at supporting innovators to foster competition and growth of both large and small businesses, which offer an innovative product or service to consumers. The Innovation Hub will consist of a team of dedicated FCA staff who will offer direct […]
Read moreby Emma Cleveland|29 October 2014|Industry News
In a speech at the British Bankers’ Association’s (“BBA”) Market Abuse Conference on the 7th of October, Patrick Spens, the FCA’s Head of Market Monitoring, addressed the regulator’s concern with, and ongoing pursuit of, market abuse. Mr Spens outlined that market abuse remains a high priority for the FCA as it is integral to maintaining […]
Read moreby Emma Cleveland|28 October 2014|Our Thinking
Find everything you need to know about the new dealing commission rules and the impact on your commission sharing agreements in our attached Glance Card. It also offers insight into potential changes in the future in light of the FCA’s recently released discussion paper 14/3 and MiFID II.
Read moreby Emma Cleveland|21 October 2014|Our Thinking
On 1 October 2014 the European Securities and Markets Authority (ESMA) published its Work Programme for the upcoming year. In it ESMA has set out four operational objectives: supervision, the single rulebook, convergence, and risk monitoring analysis.
Read moreby Emma Cleveland|7 October 2014|Industry News
In a response to the Treasury Select Committee’s inquiry on SMEs, Sean Martin, General Counsel of the FCA, has issued a letter to Andrew Tyrie, published on 19 September 2014, in which he has explained the legal opinions used by the FCA in their decision to treat loans similar to interest rate hedging products (IRHPs) […]
Read moreby Emma Cleveland|7 October 2014|Industry News
In a letter to Andrew Tyrie dated 19 September 2014, the FCA’s CEO, Martin Wheatley, has expressed the regulator’s concern with high-frequency trading (“HFT”) and dark pools. Mr Wheathley has confirmed that the FCA is looking to implement provisions in the new MiFID II, which would preserve the integrity of the market and alleviate the […]
Read moreby Emma Cleveland|7 October 2014|Industry News
In his speech at the FCA MiFID II Conference on 18 September 2014, David Lawton addressed a number of key areas where the new directive will seek to achieve a balance between regulation and effectiveness. The FCA Director of Markets explained that although agreement has already been reached regarding MiFID II, the obligations do not […]
Read moreby Emma Cleveland|3 September 2014|Industry News
As part of its “Innovate” project, the FCA are calling for input from firms in order to help clarify regulatory uncertainty in the financial services sector. In a recent statement the regulator asks firms to submit examples of situations where they believe they have been subject to retrospective application of regulatory rules. The call for […]
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