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FCA Risk Outlook 2014

The publication of the FCA Business Plan 2014/15 (see separate article in this Regulatory Roundup) was accompanied by the FCA Risk Outlook 2014. The FCA Risk Outlook identifies potential issues […] [...]

Supervision of C4 Firms

When the FCA took over from the FSA, it introduced a new approach to supervision, albeit that for many small firms it may have been difficult to spot any practical […] [...]

CRD IV: COREP Reporting

Those firms that fall within CRD IV should have received a FCA notification concerning a delay in the final submission date for the first quarterly COREP report by a month […] [...]

Hedge Fund Survey

The latest (March 2014) Hedge Fund Survey has been released by the FCA. The twice-yearly survey is based upon voluntary participation by the hedge fund industry – the current version […] [...]

AIFMD: ESMA Q&A

ESMA has updated its Q&A on the application of AIFMD. The publication is a modest nine pages and addresses questions in respect of notification of AIFs, reporting to national competent […] [...]

FSCS (and FOS) Exemption

Referring to the article on the FSCS levy a reminder to firms to ensure that, where applicable, they have submitted exemption forms in respect of FSCS and FOS levies. A […] [...]

Complyport News

Complyport has appointed Paul Grainger as CEO replacing Martin Herriot who left the firm in 2013. Paul Grainger takes over from Richard Eagle who has very successfully acted as interim […] [...]

AIFMD: Remuneration

The FCA’s Quarterly Consultation CP14/4 proposes to introduce guidance on SYSC 19C (BIPRU Remuneration Code) to the effect that an AIFM that is also a BIPRU firm that complies in […] [...]

UCITS V

UCITS V is making steady, if slow, progress. A press release by the European Commission informs us that both the European Parliament and the European Council have reached agreement on […] [...]

AIFMD: Other Matters

The Quarterly Consultation (see earlier story, AIFMD: Remuneration) also contained proposals and other matters which will be of interest to AIFMs. IPRU(INV) 11 contains the prudential rules for both Collective […] [...]

Best Execution in Different Markets

Market Watch 45 confirms that the FCA is currently undertaking a thematic review of best execution in different markets. Although the findings will not be published until later this year, […] [...]

FATCA

HMRC has updated its Guidance Notes in respect of FATCA (‘Foreign Account Tax Compliance Act’). Strictly speaking, as far as UK firms are concerned, the Guidance Notes relate to the […] [...]

Suspicious Activity Reports

The National Crime Agency, whose remit now includes those areas which were previously the responsibility of SOCA, has recently produced guidelines on the submission of suspicious activity reports (SAR), including […] [...]

CRD IV: Remuneration and Risk Takers

The European Commission has adopted Regulatory Technical Standards on the identification of ‘material risk takers’, being those staff whose professional activities have a material impact on a firm’s risk profile […] [...]

EMIR: Risk Mitigation

As we know, certain risk mitigation techniques relating to OTC derivative trades not cleared by a CCP came into force on 15 September 2013, namely: Dispute resolution: a firm must […] [...]

Fixed Overheads

Those firms that remain categorised as BIPRU firms, as opposed to those subject to IFPRU, (see e.g. Regulatory Roundup 51) will be aware that calculation of the fixed overheads requirement […] [...]

AIFMD: Authorisation Deadline

The below is a recent AIFMD update that was sent to Complyport’s clients. “HM Treasury has just released a statement which differs from the FCA’s previously held view that any […] [...]

Dealing Commission Rules

As mentioned in Regulatory Roundup 51, the FCA has now released its consultation paper on the use of dealing commission – CP13/17. In November 2012 the then FSA published “Conflicts […] [...]

CRD IV: Country by Country Reporting

HM Treasury has published ‘The Capital Requirements (Country by Country Reporting) Regulations 2013’. The draft stems from Article 89 of the Capital Requirements Directive and impacts on all ‘institutions’ – […] [...]

EMIR – OTC Clearing and Third Country Provisions

Article 4 of EMIR places a clearing obligation in respect of certain OTC derivative transactions. Generally the obligation does not extend to such transactions between entities that are established in […] [...]

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