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As part of our compliance services at Thistle Initiatives, we keep our clients updated with the latest regulatory news, allowing them to stay ahead of the competition in the compliance world.

We will send regular Regulatory Updates direct to your inbox, as and when the most significant issues arise within the finance sector, as well as any broad regulatory matters that we believe will be relevant to your firm’s business activities.

In addition to our updates, Thistle Initiatives compose a monthly compliance newsletter, providing you with advice and insight into recent FCA activities and financial services as a whole.

The European Commission published a draft new regulation on European crowdfunding service providers for business on 8th March 2018. Platforms active in both the loan-based crowdfunding and investment-based crowdfunding markets would be subject to the new rules, which would be directly... Read more

Algorithmic trading

On 8 February 2018, the European Commission released a number of Notices to Stakeholders in relation to Brexit, which is scheduled for 30 March 2019. These notices cover a wide range of sectors, including investment managers and MiFID firms, both of which will be of interest to asset... Read more

operational and security risk

The FCA is consulting on proposals under the Payment Services Regulations 2017, relating to operational and security risk and minor amendments to the Payment Services Approach Document. The consultation document can be viewed  Read more

What happened The FCA issued Dear CEO letters in February 2018 to investment firms concerning the quality of the IFPRU and BIPRU regulatory returns submitted to the FCA. The letter focuses on the most common incorrect submissions, which... Read more

Algorithmic trading

What happened? The FCA and the Information Commissioner’s Office (ICO) have recently published an update on the EU General Data Protection Regulation (GDPR). This is available  Read more

Algorithmic trading

What happened? The FCA has recently published a report on the supervision of algorithmic trading in wholesale markets. The report summarises the key areas of focus for algorithmic trading and highlights areas of good and bad practice observed... Read more

FCA penalty

The FCA imposed, on 25th January, a financial penalty on Interactive Brokers UK (IBUK) in the amount of £1,049,412 for failings in its post-trade systems and controls for identifying and reporting suspicious transactions in the period February 2014 to February 2015. Details of this... Read more

FCA Policy Statement 17/6, issued on 2 May, sets out how disclosure requirements have changed to reflect the introduction of the PRIIPs key information document (KID), and sets out final rules and guidance. Given the delayed application of the PRIIPs Regulation, these rules have applied... Read more

The FCA has recently issued a statement related to concerns raised by the industry about the performance scenarios in the PRIIPs Key Information Document (KID). This can be viewed here. The... Read more

Appointed Representative

Financial institutions could be fined a tenth of their revenues if they do not comply with the EU Benchmarks Regulations (BMR), which came into force on 1 January 2018. The rules, created in the wake of the LIBOR-fixing scandal, are intended to ensure robust governance of benchmarks and... Read more

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