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Last week, the winners of the AltFi Awards 2017 were announced. These awards recognise outstanding achievement in the Alternative Finance industry for both established and up-and-coming...

IDD

Background In the wake of the collapse of Carillion, the UK’s second-largest construction company, the company has announced that it has been forced...

payment services

PSD2 and the Payment Services Regulations 2017 (PSRs 2017), the UK implementing legislation, introduce two new activities that may be passported: • Payment Initiation Services (PIS),...

payment services

What happened? “Our Payments Department” - a section of a speech delivered by Karina McTeague, Director of Retail Banking Supervision at the FCA, at...

CFD Update

What has happened? The European Commission has announced a proposal to push back the application date of the Insurance Distribution Directive (IDD) by...

IDD

What has happened? On 20 December, the European Securities and Markets Authority (ESMA) issued a public statement to support the smooth introduction of...

MiFID II

What happened? The majority of the updated PSD 2 regime will apply from 13 January 2018 and certain payments businesses will have to be registered or...

IDD

What happened? On 2 August 2016, the FCA had issued an alert following an increase in cases of introducers having an inappropriate influence on business...

MiFID II Telephone Taping

Background With less than one month to go until MiFID II goes live, the FCA has amended the rules on telephone taping which will apply to all...

MiFID II costs and charges

What will happen? MiFID II brings in, from 3rd January 2018, enhanced requirements in relation to the disclosure to retail and professional clients and...

Bitcoin regulation

What will happen? The Treasury is set to unveil plans to regulate Bitcoin in the coming year amid fears the cryptocurrency is being used to launder...

FCA Asset Management Hub

Background The FCA has announced it is launching a hub for asset management start-ups overwhelmed by the authorisation process – it has revealed that...

MiFID II Telephone Taping

What will happen? The FCA recently amended the MiFID II rules on telephone taping which will apply to all discretionary investment managers when MiFID...

Payment Services Regulator

Background The 2017 Autumn Budget was presented on 22nd November by the Chancellor of the Exchequer, Philip Hammond. The complete Budget document can...

MiFID II Structured Deposits

What will happen? The UK’s MiFID II implementing legislation will include a transitional provision so that firms that hold certain permissions on the...

EuVECA 2

Background Registering as a EuVECA manager allows a firm to market qualifying venture capital funds throughout the EU to certain categories of investors...

Payment Services Directive 2

Background The revised Payment Services Directive (PSD2) is required to be implemented in the UK by 13 January 2018. The Treasury has transposed PSD2...

Risk Profiling Tools

Background The risk profiling tools used by advisers have previously been described as a “ticking time-bomb”. These tools have not been scrutinised...

Background The FCA has recently issued a consumer warning in relation to Initial Coin Offerings (ICOs). The full text can be found

FCA Asset Management Market Study

Background The FCA has announced, in its Market Study MS 15/2.3, “a package of remedies” it will implement following its investigation into the...

MiFID II Product Governance

History The Markets in Financial Instruments Directive (MiFID II) contains a new requirement relating to product approval. Article 16(3) defines...

Consumer Credit Firms Remuneration

The FCA has published proposals relating to performance management and staff incentives as applied within consumer credit firms. This relates to the regulator’s desire to ensure that these areas...

CA concern over interbank rates

The FCA has previously highlighted concerns over firms using interbank rates in their customer sales and engagement materials.  That includes online currency converters. The expressed concerns...

Senior Managers & Certification Regime

The FCA’s Consultation Paper CP 17/25 presented an expanded SM&CR (Senior Managers & Certification Regime) proposal. The objective of the proposal is to reduce consumer risk and...

histle Initiatives FCA Suitability of Advice Review

In its 2016/17 business plan, the Financial Conduct Authority (FCA) noted that the “Suitability of Advice” review would be one of its seven priorities for the period ahead. This was a commitment...

Background In July 2016, the FCA published its Consultation Paper CP16/18, setting out how it proposed to reflect the Packaged Retail and...

FCA Business Plan

Background The FCA Business Plan for 2017/18 was published in April 2017 and can be located

Payment Services Directive 2

Background The second EU Payment Services Directive (PSD2) is required to be in place in the UK by 13th January 2018. HM...

MiFID II

What happened? The second and final policy statement relating to MiFID II was issued on 3rd July 2017 and is available

CFD Update

The FCA scrutinises contracts for difference and spread betting - revisited

Payment Services Regulator

The PSR has recently published its Annual Plan and Budget for the year 2017/18.

FCA live and Local

This update is relevant to all retail investment and general insurance firms

IDD

This update is relevant to all fintech firms.

Payment Services Regulator

This update is relevant to all retail advice firms FAMR...

MiFID applications

This update is relevant to all firms involved with commodity derivatives.

Cybersecurity

Friday 12th May 2017 saw the start of a global cyber attack using malware

MiFID applications

This update is relevant to all firms within the scope of MiFID II Background MiFID...

Payment Services Regulator Plan

Each year the Payment Services Regulator publishes its...

IDD

The new Insurance Distribution Directive (IDD) applies to all entities engaged in insurance distribution to...

MiFID II Taping

An important modification to the MiFID II proposals has been announced and this will affect “Article 3”...

MiFID II Update

In the light of widespread losses by customers and allegations of poor transparency and understanding of the...

From 25th May 2018, a new EU data protection framework will apply, taking the form of a regulation...

European Union venture capital

This update is relevant to any firms considering registration as EuVECA fund managers By...

regulated advice changes

From 3rd of January 2018, for FCA regulated firms, the UK definition of advising on investments is to...

Money Laundering Directive

The Fourth Money Laundering Directive is a

FCA regulation agenda 2017

Keeping up to date with FCA regulation is a constant challenge for firms. Ensuring you are keeping up to date with...

This post will outline recent developments regarding the FCA’s ‘potential consolidator’ and advisory client...

FCA skilled person reviews checklist

This post will discuss recent developments regarding the FCA’s pensions transfer and skilled person reviews...

PSD2 regulation impact on the European payments industry.

The rapid pace of innovation of new financial solutions and products in the last decade has resulted in a need...

This post is the second in our ‘FinTech future’ series where we will be discussing various issues relating...

Could the impact of Brexit uncertainty within financial services firms be soothed by a FinTech future? Financial...

As we enter the new year, you may be wondering ‘How will I stick to my resolutions this year?’, and of...

This post is the fifth in our MiFID II blog series, where we will be providing updates and information regarding...

This post is the fourth in our MiFID II series, where we will be providing MiFID II updates and discussing the...

This post will discuss recent developments regarding FCA regulation in relation to firms operating in the...

This post will discuss recent developments regarding FCA regulation in relation to firms operating in the...

Are you wondering how MiFID II will impact

This post will discuss a recent study of the global online and crowdfunding market by Juniper Research entitled...

A recent report from KPMG UK has highlighted that there are significant improvements that could be necessary in...

Are you ready for MiFID II? This blog is the second in our MiFID II series, where we will be examining the impact of...