28 September 2015 - Complyport UK Consultancy Service

UCITS V Developments

Following the recent ESMA Consultation Paper on remuneration policies under UCITS V (see Regulatory Roundup 66) the FCA has published CP15/27 “UCITS V implementation and other changes to the Handbook affecting investment funds”. As may be recalled a major change in UCITS V is the introduction of the need for [...]

European Long Term Investment Funds

The FCA consultation paper CP15/27 was not solely confined to UCITS V (see above article) as the “… other changes to the Handbook affecting investment funds” includes a section (Part II) on European Long Term Investment Funds (ELTIF). Although these funds will be categorised as EU AIFs it will be [...]

Authorised Investment Funds

Apart from ‘UCITS V’ and ‘European Long Term Investment Funds’ (see previous two articles) CP15/27 also manages to pack in (Part III) proposed miscellaneous changes to the Handbook with a view to keeping the rules and guidance for authorised investment funds up to date. Changes include: Under COLL 6.12.3, authorised [...]

AML Regulations for Registered Investment Advisers

On 25 August 2015, the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury, proposed new rules (the Proposed Rules), requiring “certain” registered investment advisers (those registered with the United States Securities and Exchange Commission (SEC)) to establish anti-money laundering (AML) programs and to report [...]

Quarterly Consultation

The FCA’s Quarterly Consultation CP15/28 proposes miscellaneous amendments to the Handbook ranging from the list of appropriate qualifications under TC to restricting the scope of section C of the RMAR to money held in respect of insurance mediation activity. There are a couple of areas worth highlighting as they are [...]

Thematic Review – Trading

Market Watch 49 published on 3 September is devoted to FCA feedback following a thematic review of commodities trading – although there is no reason why the relevance of some of the findings should not apply to a wider sphere. Most firms had not carried out a Code of Market [...]

FCA Strategy Review Re-reviewed

Currently firms are supervised in accordance with their conduct categorisation which ranges from C1 to C4 with the latter firms being subject to a much lighter regulatory touch (firms will have received a letter from the Regulator confirming their classification). Supervision work is divided into three ‘Pillars’: Pillar 1 involves [...]

Connect/ONA

Although ‘Connect’ has replaced the ONA system as the method of submitting applications and notifications to the FCA, ONA allows ‘read-only‘ access which permits existing users to review previously submitted applications. The FCA advises that the read-only access to ONA will no longer be available from 8pm on 23 October. [...]

Day: 28 September 2015

UCITS V Developments

European Long Term Investment Funds

Authorised Investment Funds

AML Regulations for Registered Investment Advisers

Quarterly Consultation

Thematic Review – Trading

FCA Strategy Review Re-reviewed

Connect/ONA

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