FCA dear CEO letter for principals and appointed representatives in the investment management sector

The Financial Conduct Authority (FCA) has published a Dear CEO letter outlining the findings of its supervisory review of principal firms in the investment management sector and requiring the firms to assess how they are meeting the FCA’s requirements regarding their ARs. The review identified shortcomings in the control and oversight of appointed representatives (ARs) […]

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European Commission Delegated Regulation on RTS and measures to mitigate money laundering and terrorist financing risk

The European Commission has released a Delegated Regulation (EU) 2019/758 of 31 January 2019. Supplementing the Fourth Money Laundering Directive ((EU) 2015/849) (MLD4) with regard to regulatory technical standards for the minimum action and the type of additional measures credit and financial institutions must take to mitigate money laundering and terrorist financing risk in certain […]

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FCA’s approach to supervision

The Financial Conduct Authority has published its approach to supervision. The Approach to Supervision and feedback statement explains the FCA’s purpose of, and the approach to, supervising firms and individuals and the public value it delivers. The document sets out: • Chapter 1 – Why the FCA supervise • Chapter 2 – FCA’s supervisory principles […]

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The Proxy Advisors (Shareholders’ Rights) Regulations 2019

The Proxy Advisors (Shareholders’ Rights) Regulations 2019 was published on legislation.gov.uk. This instrument transposes Article 3j of the revised EU Shareholder Rights Directive (SRD II) into UK law. Article 3j of SRD II places requirements on proxy advisors, which primarily offer voting services and/or advice to shareholders in publicly listed companies, to make certain disclosures […]

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Blockchain Expo – Paul Lack

At the Blockchain Expo event in April 2019, Paul Lack, CEO at Met Facilities LLP, spoke with Bull.io team. https://www.youtube.com/watch?v=882q8R2v3Gk For more interviews with other attendees at the Blockchain Expo, visit the link below: https://www.youtube.com/channel/UC3kh386LYXQzQWnBrB90qnA Contact us here Other articles   Please Note: This publication is not intended to be a comprehensive review of all […]

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FCA Handbook Notice 65

The Financial Conduct Authority (FCA) has published Handbook Notice 65 which describes the changes to the Handbook, Binding Technical Standards and other material made by the FCA Board under its legislative and other statutory powers on 28 March and 9 April 2019. Conduct of Business (Binary Options) Instrument 2019 (FCA 2019/15) It amended COBS 22. […]

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FCA’s feedback statement on Duty of Care

The Financial Conduct Authority (FCA) has published a feedback statement summarising the responses received to its Discussion Paper DP18/5 ‘A duty of care and potential alternatives approaches’ which is published in July 2018 and setting out next steps. Some stakeholders have previously told the FCA that our regulatory framework, including our Principles for Businesses (the […]

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FCA publishes latest Business Plan 2019/20

The FCA has released its latest Business Plan containing its main priorities and hints as to future areas of focus. The main key priorities are: Culture and governance: This includes the extension of the Senior Manager’s and Certification Regime to all firms. There are also interesting references to the concept of “harm” and where this […]

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EU Parliament approves new rules to protect whistle-blowers

The European Parliament approved new EU-wide rules that strengthen the protection of persons reporting on breaches of Union law. Safe reporting channels To ensure potential whistle-blowers remain safe and that the information disclosed remains confidential, the new rules allow them to disclose information either internally to the legal entity concerned or directly to competent national […]

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FCA Primary Market Bulletin No.23

The FCA has released their 23rd primary market bulletin, finalising their guidance on periodic financial information and inside information, after consulting on updating Technical Note UKLA/TN/506.1 in Primary Market Bulletin No. 19. The FCA also outlines its findings and sets out its expectations on some of the issues raised in its recent supervisory review of […]

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HM Treasury consults on the implementations of 5MLD

HM Treasury has released its consultation on the steps the UK Government proposes to take to meet the UK’s expected obligation to transpose the Firth Anti-Money Laundering Directive (5MLD) into national law. It’s worth noting quickly the difference between MLD4 and MLD5: improving transparency – beneficial ownership registers for legal entities, such as companies, will […]

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FCA extended the notification window for temporary permissions regime to 30 May

The Financial Conduct Authority has published Amended Directions to extend the notification window to 30 May 2019 in light of the delay of the process to Brexit. The amended directions are as below: Amended Direction: temporary permission notification – Financial Services and Markets Act (fsma) Amended Direction: temporary permission notification – The Alternative Investment Fund […]

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