by Victoria Smith|9 March 2023|Our Thinking
The Financial Conduct Authority’s (“FCA”) changes for Appointed Representatives (“AR”) have been implemented to ensure that the UK’s financial sector remains compliant and transparent. The new rules (“New Rules”) came into effect on 8 December 2022 and allows unauthorised firms to engage in regulated activities without having to be authorised by the FCA and affected […]
Read moreby Victoria Smith|8 March 2023|Events
Happy International Women’s Day! Today, we celebrate the incredible achievements and contributions of women all around the world who have shaped our society and inspired us with their resilience, compassion and strength. At Cleveland & Co, we continue to promote a workplace that is diverse and inclusive and where women and girls are empowered to […]
Read moreby Victoria Smith|7 March 2023|Our Thinking
background On 4 January 2023, a consent order was issued to Coinbase Inc. (“Coinbase”), a crypto exchange platform, by the New York Department of Financial Services (the “NYDFS”) for conducting its business in an unsafe and unsound manner. Following investigation, the NYDFS discovered that… next steps Crypto exchanges are facing increased scrutiny in terms of […]
Read moreby Victoria Smith|2 March 2023|Our Thinking
The SEC has recently proposed changes to its Custody Rule that if adopted will substantially expand and reform the existing rules governing custody of client assets. The scope of assets covered by the new Rule will be changed from limited “securities and funds” to any “positions held in a client account”. It also enhances client […]
Read moreby Victoria Smith|27 February 2023|Our Thinking
background On 8 February 2023, the Australian Government released Michelle Levy’s Quality of Advice Review Final Report (“the Report”), which assesses the “accessibility and affordability of quality financial advice” available to Australians. The comprehensive Report was commissioned by the former government in response to the 2017 Royal Commission into Misconduct in the Banking, Superannuation and […]
Read moreby Victoria Smith|27 February 2023|Our Thinking
The Australian Prudential Regulation Authority (“APRA”) has recently announced its key focus supervision and policy areas for 2023. APRA’s prudential policies and supervision activities support its purpose to ensure the financial interests of Australians are protected and the financial system is stable, competitive, and efficient. APRA aims to identify and respond to significant risks to […]
Read moreby Victoria Smith|23 February 2023|Our Thinking
In our latest short webinar series, we’re looking at earnout provisions used in Merger and Acquisition agreements. We’ll cover… Please click here to follow us on LinkedIn to receive the latest information on this and other important topics!
Read moreby Victoria Smith|20 February 2023|Our Thinking
Are you an investment advisor affected by the new Securities and Exchange Commission marketing rules? Firms will need to ensure they are compliant with the new Marketing Rule by making updates to their marketing materials, contracts and policies and procedures. At Cleveland & Co, we’ve been preparing to assist our clients with these changes and […]
Read moreby Victoria Smith|19 February 2023|Our Thinking
summary The Australian Securities and Investments Commission (“ASIC”) outlined its enforcement priorities on 3 November 2021 and has increased its surveillance and enforcement focus on fund managers, superannuation trustees and responsible entities more recently, amongst its other priorities, on greenwashing and product design, and distribution obligations… next steps for firms Financial firms should review and […]
Read moreby Victoria Smith|16 February 2023|Our Thinking
summary On 12 January 2023, the U.S. Securities and Exchange Commission (“SEC”) announced that it has charged Genesis Global Capital, LLC (“Genesis”) and Gemini Trust Company, LLC (“Gemini”) over unregistered offer and sale of securities to retail investors through Gemini Earn crypto asset lending program. The SEC’s investigation into the program revealed that… next steps […]
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