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Financial Crime and Asset Management

The asset management sector appears to be popular with the FSA at the moment (see article on ‘Conflicts of Interest’ in this Regulatory Roundup), given a recent speech by Tracey […] [...]

FSA: Client Assets Unit

Firms that are subject to CASS may find the recent presentation given by Richard Sutcliffe, FSA Head of Client Assets Unit, worth reviewing as it serves to reinforce the FSA’s […] [...]

David Lawton, FSA Director of Markets, took the opportunity to remind firms about the progress of the European Market Infrastructure Regulation (EMIR). Since the publication of ESMA’s Consultation Paper on […] [...]

Complyport Wins Thomson Reuters Award

Complyport is delighted to announce it has been awarded the 2012 Best Consulting Firm of the Year at the 8th Annual Thomson Reuters Accelus Compliance Awards – beating five other […] [...]

Reform of Approved Persons Regime

More changes to the Handbook arising from the impending move from the FSA to the FCA/PRA regime are proposed in CP12/26 ‘Regulatory reform: the PRA and FCA regimes for Approved […] [...]

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 […] [...]

The Journey Ahead

A speech by Martin Wheatley, FCA CEO Designate, on 16 October announced the launch of ‘Journey to the FCA’ which sets out how the FCA will approach its regulatory objectives […] [...]

Transactions Actions

Things have been quiet of late in respect of transaction reporting failings by firms since City Index (see Regulatory Roundup 25). However the silence was broken by the publication of […] [...]

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 […] [...]

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, […] [...]

Supervision under the FCA

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 […] [...]

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