Approved Persons

FCA CP17/37 Industry Codes of Conduct and Discussion on Principle 5 Market Conduct

Of relevance to: Authorised firms, particularly those already subject to the Senior Managers and Certification Regime, including banks, building societies, credit unions and certain large investment banks Key date: Comments […] [...]

Changes to Companies Act

The ‘Small Business, Enterprise and Employment Bill’ is progressing through Parliament. Aside from topics ranging from zero hours contracts to public houses code via childcare and schools, some changes to […] [...]

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 […] [...]

Controlled Function CF10a

As mentioned in previous Regulatory Roundups e.g. issues 23 & 28, CASS medium and large firms (see article above on CMAR for criteria) need to allocate the new function of […] [...]

Cold-shouldering

Some firms may have been in receipt of a ‘Dear Compliance Officer’ letter reminding them of the ‘cold-shouldering’ imposed by the Takeover Panel on three individuals. The concept of cold-shouldering […] [...]

Delay To Controlled Functions Changes

Regulatory Roundup 22 updated firms on proposed changes to the Approved Persons regime set out in PS10/15 (‘Effective corporate governance’). Highlights included the removal of the CF28 (Systems and Controls) […] [...]

Shadow Partner Banned

In June of last year Vantage Capital Markets LLP (VCM), an inter-dealer broker, was subject to a fine of £700K arising from the activities of Daniel Hassell. Mr Hassell’s former […] [...]

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 […] [...]

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 […] [...]

A technical correction to CF29 applicability

Following the FSA’s recent review of the Handbook they propose correcting a technical error in SUP 10.9.1R that sets out the types of firm where the significant management function (CF29) […] [...]

CASS Consultation Paper

The FSA has released Consultation paper CP10/9 – “Enhancing the Client Assets Sourcebook”. Proposals include greater transparency requirements by UK authorised prime brokers (‘PBs’) in respect of re-hypothecation provisions by […] [...]

Corporate Governance

The FSA has issued Consultation Paper CP10/03: ‘Effective corporate governance’. As we all know, the FSA places considerable emphasis on good corporate governance and is a subject matter that can […] [...]