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Fees and Levies

The FSA has published its annual consultation paper on fee rates and levies – ‘Regulatory fees and levies: policy proposals for 2013/14’ (CP12/28). At this stage of the process the […] [...]

MiFID II Progress

Regulatory Roundup 36 contained an article on the publication by the EU Commission of a draft for a revised MiFID – a link to the draft can be found within […] [...]

Financial Crime Update

The FSA has published its latest Financial Crime Newsletter (issue 16). There is not much that is new inside e.g. it mentions the March 2012 report on findings on anti-bribery […] [...]

Short Selling Disclosures and Notifications Update

As was mentioned in Regulatory Roundup 43, new, EU driven, short selling rules came into force in the UK from 1 November. In brief, the regulations (EU 236/2012) place restrictions […] [...]

Clive Adamson, Director of Supervision, Conduct of Business, gave a speech at the annual FSA Asset Management Conference on the supervisory approach that will be adopted by the FCA. Although […] [...]

Money Laundering Changes

HM Treasury advises that the Money Laundering (Amendment) Regulations 2012 will come into force on 1 October 2012 – see Regulatory Roundup 31 concerning the consultation. The Money Laundering changes […] [...]

On Track: Retail Distribution Review

The FSA has published its latest guide on the Retail Distribution Review in response to calls for help from the industry (and incidentally which reports that firms believe that implementing […] [...]

Client Money Failings

BlackRock Investment Management (UK) Ltd (BIM) was subject to a massive penalty of more than £9.5m (after the traditional 30% discount) for client money failings. The failings were fairly basic: […] [...]

Incentives

A further example of the new regulatory approach of being prepared to intervene at an earlier stage (see the article on unregulated collective investment schemes in Regulatory Roundup 43) was […] [...]

Regulation of Indices

The European Commission has published a consultation paper on the regulation of indices, which follows the recent alleged manipulation of LIBOR, and the European and Japanese equivalents. The paper covers […] [...]

CASS Proposals

Following the proposed changes to CASS 1A (classification and oversight) and CASS 8 (mandates), as mentioned in Regulatory Roundup 43, and the introduction of the CASS resolution pack concept in […] [...]

Remuneration Code – MiFID Version

The consultative guidance on Incentives issued by the FSA (see separate article in the Regulatory Roundup) was followed a couple of weeks later by the publication by ESMA of a […] [...]

Regulatory Reform

A consultation paper on regulatory reform – CP12/24 “Regulatory Reform: PRA and FCA regimes relating to aspects of authorisation and supervision” was released on 12 September. As will be known, […] [...]

New Restrictions on UCIS

Regular Readers of Regulatory Roundup will be aware of both the FSA’s continuing concerns on the promotion of unregulated collective investment schemes (UCIS) and its readiness to take relevant regulatory […] [...]

Short Selling Changes

As will be known – e.g. see Regulatory Roundup 21 – the European Commission has the goal of harmonising short selling rules. EU 236/2012, being a Regulation ‘on short selling […] [...]

Remuneration Code: Changes to Guidance

The FSA has issued amended consultative guidance on proportionality in relation to the Remuneration Code (the current guidance was issued last December). At present the FSA’s guidance provides for the […] [...]

Remuneration Code: Change to Templates

The FSA has taken the opportunity to update the self-assessment templates and code staff tables that can be found on its website. Use of a template in the drafting of […] [...]

CASS Update

The FSA is consulting (CP12/15) on changes in two areas of CASS: firm classification and oversight (CASS 1A) and mandates (CASS 8). The changes to CASS 1A will include clarification […] [...]

Hedge Funds and Systemic Risk

The FSA has published its latest report (see e.g. Regulatory Roundup 33 for details of the 2011 report) following the results of the Hedge Fund Survey (HFS) and Hedge Fund […] [...]

Capital Instruments: Pre-Issuance Notification

Firms that are subject to GENPRU are reminded that they must notify the FSA before issuing any capital instruments that they wish to include as regulatory capital. The rules, and […] [...]

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