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Financial Crime

Regulatory Roundup 37 contained an article on the publication of FSA guidance on financial crime (which can also be accessed via ‘The Full Handbook’ page on the FSA website under […] [...]

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 […] [...]

ESMA: Compliance Function Guidelines

A productive time for ESMA: in addition to a consultation paper on suitability (see previous article), ESMA has also issued a consultation paper on guidelines relating to MiFID compliance function […] [...]

CICA

Combined Insurance Company of America (CICA) had the honour of being the last firm to incur an FSA imposed financial penalty in 2011. Although CICA’s business is the provision of […] [...]

Fine End To The Year

As mentioned in the article concerning Combined Insurance Company of America, the latter’s Final Notice was the last published in 2011 and brought the total of financial penalties incurred by […] [...]

Client Money: Auditor Failings

It may be recalled that the Client Money failings at J P Morgan Securities Ltd (JPMSL) resulted in an eye-watering financial penalty of £33.32M being imposed by the FSA in […] [...]

Insider Dealing

The FSA has issued a brief press statement to the effect that Richard Joseph has been charged with eight counts of insider dealing and two counts of money laundering. Mr […] [...]

Energy Markets

The tenth annual analysis of activity in energy markets is now on the FSA’s web site. The paper covers the 12 months to 31 July 2011 and is based upon […] [...]

Prospectus & Transparency Directives

As will be known (see Regulatory Roundups 28 & 32) HM Treasury issued a consultation on the early implementation of certain changes brought about by a revision of the Prospectus […] [...]

Venture Capital Funds

The EU Commission has published a proposal relating to venture capital funds. The latter are recognised as valuable sources of equity finance, particularly for small and medium-sized enterprises and start […] [...]

Market Abuse Guidance

The FSA is proposing to amend some of its guidance in MAR 1.4 (improper disclosure) to reflect feedback received from the industry. In Market Watch 35 of last year the […] [...]

Pillar 3 Disclosure Enhancements

With reference to Regulatory Roundup 36 concerning the final rules to implement CRD 3, a reminder that the Pillar 3 disclosure obligations in BIPRU 11 are to be enhanced with […] [...]

Financial Crime

Regulatory Roundup 31 included an article on FSA guidance on financial crime which had been published in the form of a consultation paper (CP11/12). The final guidance (PS11/15) has now […] [...]

Prudent Valuation Reporting

A consultation paper (CP11/30: “Proposed Regulatory Prudent Valuation Return”) has been released by the FSA which introduces a new prudential return. However, the good news for the majority of firms […] [...]

MiFID II

The EU Commission has published the long-awaited draft for a revised MiFID (Markets in Financial Instruments Directive) – the current MiFID came into force 1 November 2007. The revised MiFID […] [...]

Market Abuse Changes

The EU has been churning out the work; in addition to the proposed changes to MiFID (see previous article) they have also issued proposed changes to the Market Abuse Directive […] [...]

Regulatory Fees

CP11/21 – ‘Regulatory fees and levies: Policy proposals for 2012/13’ – sets out the FSA’s proposals for changes in the fees and levy regimes. For the avoidance of doubt the […] [...]

ARROW Points

A recently published FSA Newsletter contained an article on recent observations from ARROW risk assessments. Although the Newsletter is targeted at ‘smaller wholesale insurance intermediaries’ the observations can be equally […] [...]

Remuneration Code & Proportionality Tiers

The FSA has issued yet further guidance on the Remuneration Code to assist firms – see Regulatory Roundup 35 on previous recent guidance given – that will only be relevant […] [...]

PFOF Delay

Details of the FSA’s consultative guidance on the practice of ‘payment for order flow’ (PFOF) was included in Regulatory Roundup 35. The deadline for responses was November 9 but given […] [...]

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