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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 […] [...]

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 […] [...]

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 Formalise Co-operation with FINRA

The FSA have signed a Memorandum of Understanding with FINRA, the largest independent regulator for all securities firms doing business in the US. The MOU is now effective and provides […] [...]

Ministry of Justice Anti-Bribery Consultation

As covered in Regulatory Roundup 17 the offences under the Bribery Act 2010 will become enforceable from April 2011. Firms will be aware that there will be a defence for […] [...]

Capital Planning Buffers

For the avoidance of doubt, this will only be of relevance to BIPRU firms. Regulatory Roundup 6 advised that the FSA had published CP09/30 – “Capital Planning Buffers” – concerning […] [...]

Remuneration Code Feedback

Thank you to those firms that sent their views on the Remuneration Code proposals to us (Regulatory Roundup 20 refers). It is clear that the two major themes are (a) […] [...]

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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