FCA policy statement on rates of regulated fees and levies for 2019/20

The Financial Conduct Authority has published Policy Statement PS19/19 on the proposed 2019/20 regulatory fees and levies. The FCA published the summary and their response in the PS and the 2019/20 periodic fees and levies for: Financial Conduct Authority (FCA) Financial Ombudsman Service general levy Money and Pensions Service Devolved Authoritites Illegal money lending (IML) […]

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FSB publishes progress report on implementing the FSB Principles for Compensation

The Financial Stability Board (FSB) has published its sixth progress report: Implementing the FSB Principles for Sound Compensation Practices and their Implementation Standards (P&S). The P&S were developed by the FSB in the aftermath of the global financial crisis to promote sound compensation practices and align compensation with prudent risk-taking, particularly at financial institutions that […]

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FCA consults on framework for assessing adequate financial resources

The Financial Conduct Authority has published Consultation Paper 19/20: Assessing Financial Resources (CP19/20). Threshold conditions and the assessment of adequate financial resources are important components of the FCA’s supervisory work. The FCA aims to reduce the likelihood of market disruption, increase the chances firms can put things right when they go wrong and minimise harm […]

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FCA confirms extension of the Temporary Permissions Regime deadline

The Financial Conduct Authority has confirmed the deadline for notifications for the temporary permissions regime (TPR) will be extended to the end of 30 October 2019. TPR would allow EEA-based firms to continue new and regulated business in the UK for a limited period, while they are seeking full FCA authorisation. EEA investment funds holding […]

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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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