Corporate Governance

Financial Promotions – Social Media

The use by firms of ‘social media’ e.g. Facebook, Twitter etc. has come under the FCA microscope with the publication of Finalised Guidance FG15/4 (“Social media and customer communications“). From […] [...]

SEC Annual Updating Reminder

A brief reminder for those firms that are registered with the U.S. Securities and Exchange Commission (“SEC”) that they need to submit an annual updating statement within 90 days of […] [...]

Transaction Reporting

The FCA has updated the Transaction Reporting User Pack (TRUP), the previous version (v 3) was release in March 2012 – see Regulatory Roundup 39. It’s not so much an […] [...]

Changes to Companies Act – Corporate Directors and Controllers

Regulatory Roundup 59 provided an update of the progress being made in respect of the ‘Small Business, Enterprise and Employment Bill’ (‘SBEEB’) which would include changes to the Companies Act. […] [...]

Restrictions on Retail Distribution

The last Regulatory Roundup (No 59) advised that a new chapter in COBS came into force on 1 October – COBS 22 “Restrictions on distribution of contingent convertible instruments” (‘CoCos’). […] [...]

COBS and CoCos

A new chapter in COBS came into force on 1 October – COBS 22 “Restrictions on distribution of contingent convertible instruments”. The provisions are effectively a copy of the short-lived […] [...]

The Financial Reporting Council (‘FRC’) has updated the UK Corporate Governance Code (‘Code’). Although all companies can use the Code as a source of reference in establishing their corporate governance […] [...]

Submission of Annual Accounts (FIN-A)

The rules surrounding the need to submit annual report and accounts via GABRIEL using FIN-A upload functionality (see Regulatory Roundup 55) will come into force this coming 31 December. The […] [...]

FCA: Enforcement and Supervision

No sooner had the FCA issued its policy statement on Enhanced Supervision (‘Tackling serious failings in firms‘ – see previous article in this Regulatory Roundup) than the Regulator published its […] [...]

Country by Country Reporting

A reminder to those firms subject to CRD IV of the 1 July 2014 deadline in respect of the first ‘Country by Country’ disclosure – see Regulatory Roundup 52. This […] [...]

Submission of Annual Accounts

Under SUP 16.12 firms are required to send various data item returns to the FCA, most of which are submitted electronically. Annual report and accounts are an exception in that […] [...]

Changes to Dealing Commission Rules

Regulatory Roundup 52 included an article on the FCA’s consultation (CP13/17) on proposed changes to the rules on the use of dealing commission (COBS 11.6). The recently published Policy Statement […] [...]

Non-GABRIEL Paper (NGP) Reports

The FCA has recently circulated some pointers regarding the submission of NGP reports (see Regulatory Roundup 34 for details and a link to FAQs), including a reminder that it is […] [...]

Digital Financial Promotions

The FSA’s Clive Gordon, Conduct Risk, gave a speech on financial promotions, but with particular emphasis on ‘digital media’ – which would encompass social networking websites, forums, blogs, Twitter and […] [...]

Soliciting in the US

In a statement made by Mary Schapiro, Chairman of the SEC, the possibility of removing the current prohibition against general solicitation and general advertising in certain securities offerings was raised. […] [...]

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 […] [...]

Takeover Code Changes

Currently the Takeover Code (the Code) applies to offers for companies which have their registered offices in the UK, the Channel Islands or the Isle of Man and if: (a) […] [...]

Training and Competence

The publication CP12/8 ‘Changes to the Training and Competence Sourcebook’ proposes to add three qualifications to the ‘appropriate qualifications tables’ in the Training and Competence (TC) sourcebook as well as […] [...]

Financial Promotions

The FSA has published ‘Finalised guidance’ on financial promotions. ‘Financial Promotions , Fund Performance and Image Advertising’ is probably self-explanatory from its title. For most investment firms, the performance rules […] [...]

Non-Executive Directors

As will be known, the FSA has always attached importance to sound corporate governance within authorised firms and has looked to Non-Executive Directors (NEDs) to provide a necessary degree of […] [...]