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Derivative Risk

The FSA has published proposed guidance on derivative risk management practices following a survey of twelve asset managers. Although a ‘derivative risk management process’ is normally associated with authorised funds […] [...]

FSA Fees

As will be known, FSA Fees are governed by which FSA Fee-Block(s) a firm falls under, e.g. Fund managers are A007 and ‘Advisory only firms and advisory, arrangers, dealers, or […] [...]

Stewardship Code

Regulatory Roundup 17 referred to proposed changes to COBS 2.2 (‘Information disclosure before providing services’) to require a firm, when managing investments for a professional client (that is not a […] [...]

Custody and Client Money

The proposed changes to CASS 6 (‘Custody rules’) and CASS 7 (‘Client money rules’) mentioned in Regulatory Roundup 17 came into force on 1 December. The changes impact the title […] [...]

CASS & a New Operational Oversight Function

There are big changes to CASS coming up which include a new control function and the need to complete a Client Money and Asset Return (‘CMAR’), As mentioned in Regulatory […] [...]

Mobile Phone Recording

The FSA has released PS10/17 – “Taping of mobile phones”, being feedback on CP10/7 (see Regulatory Roundup 11) together with the final rules. As you will know, COBS 11.8 concerns […] [...]

BIPRU 12 & Liquidity

A reminder that following the expiry of a transitional provision on 31 October, BIPRU 12.2 (‘Adequacy of liquidity resources’) now also applies to a non-ILAS BIPRU firm (see Regulatory Roundup […] [...]

Transaction Reporting and Chi-X

The FSA has released guidance consultation following the launch of a new type of instrument – centrally cleared contracts for difference. The guidance reminds us that these new instruments fall […] [...]

JMLSG III

The final version of the JMLSG Guidance Part III has been issued. The consultation version was published in May with the consultation period ending 9 July (see Regulatory Roundup 14 […] [...]

FATF Update

As many will be aware, The Financial Action Task Force (FATF) – which is the global standard setting body for anti-money laundering and combating the financing of terrorism – has […] [...]

Remuneration Disclosure

Whilst BIPRU firms consider the impact of CP10/19 and the Remuneration Code (see e.g. Regulatory Roundup 20), the FSA has released CP10/27 “Implementing CRD3 requirements on the disclosure of remuneration”. […] [...]

Important Changes to Approved Persons Regime

The recent speech by Rosalie Langley Judd (see the next article on Corporate Governance) follows the release of FSA Policy Statement PS10/15. PS10/15 is the follow up to Consultation Paper […] [...]

FSA and Corporate Governance

The speech by the FSA’s Rosalie Langley Judd and the publication of PS10/15 (‘Effective corporate governance’ – see previous article in this Regulatory Roundup on Approved Persons) serve to demonstrate, […] [...]

Systems and Controls Questionnaire FSA055

Although still a good two months or so away, an early reminder that a new data item (FSA055) will become due for completion on 31 December for non-ILAS BIPRU firms […] [...]

Handbook Changes

Unlike its title (‘Decision Procedure and Penalties manual and Enforcement Guide review 2010’) CP10/23 is a short Consultation Paper concerning some handbook changes brought about by the Financial Services Act […] [...]

Complyport Shortlisted for Complinet Award

Complyport is delighted to have been shortlisted for Complinet’s 2010 “Best Consulting Firm of the Year”. This nomination is the first award nomination that Complyport has received and comes only […] [...]

FSA Briefing

The FSA held a Wholesale Small Firms’ briefing aimed at Investment Managers and Private Equity firms on 21 September. The briefing included a session on the Remuneration Code with the […] [...]

Dan Waters on Remuneration

Dan Waters, the FSA’s Asset Management Sector Leader, gave an interesting speech at the AIMA Annual Conference which might provide some comfort for those in the asset management sector that […] [...]

OTC Clearing

The European Commission has issued a proposal on the regulation of OTC derivatives, central counterparties and trade repositories. The proposal will apply to all OTC derivatives, whether based on commodities, […] [...]

EU Framework for Short Selling & CDS

An article on short selling in Regulatory Roundup 10 advised that a CESR report recommended the introduction of a pan-European short selling disclosure regime. The European Commission has now published […] [...]

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