Category Crowdfunding

Bond Dickinson financial services team ranked in Legal 500

The Bond Dickinson financial services team is delighted to have achieved a Legal 500 ranking. The new directory described the team as providing  ‘responsive, practical, commercial and cost-effective’ advice to a wide variety of clients within the retail sector of the financial services industry. It says that  “‘Very knowledgeable’ team head Andrew Barber has ‘in-depth […]

FCA warns on risks of ‘ICOs’

The FCA has today made a statement on Initial Coin Offerings or ‘ICOs’. The FCA has said that ICOs, which can vary widely in design, are ‘very high-risk, speculative investments.’ They went further to say that ‘whether an ICO falls within the FCA’s regulatory boundaries or not can only be decided case by case.’ The […]

eba publishes fintech discussion paper

The European Banking Authority has published a Discussion Paper on its approach to financial technology (FinTech). The EBA sets out in the Discussion Paper the results of the first EU-wide FinTech mapping exercise and its proposals for future work on FinTech. To gain a better understanding of current FinTech activity in the EU, in spring 2017, […]

FCA makes new rules

At FCA’s July Board meeting it made several new rulebook instruments. Key changes are: to make minor changes to approved persons application forms with effect from 12 September; to set the fees payable to the PSR from 21 July; to amend COBS in respect of pension projections from 24 July so firms can prepare risk […]

FSCS annual report and accounts 2016/17: compensation costs total £375m

FSCS has published its annual report and accounts and annual report and class statements 2016/17, which set out its vision and strategy. The publications detail that FSCS paid out for over 37,000 claims 2016/17 in the sum of £375m. The £375m included: £52m for policyholders affected by the failures of Enterprise Insurance Company PLC and […]

FCA publishes annual report

FCA’s Annual Report and accounts for 2016/17 sets out its highlights from the past year, and includes specific sectoral reports for competition, enforcement, AML and diversity. FCA regards the year’s highlights as: its asset management market study its PPI work, leading up to proposals for a time limit on claims MIFID 2 and MAR implementation […]

John Griffith – Jones leaving the FCA

John Griffith – Jones has confirmed that he will leave both the FCA and the PSR at the end of his term of office on 31 March 2018.

EBA provides draft response to EC consultation on Fintech

The EBA has produced a draft response to the EC’s consultation on ‘Fintech: a more competitive and innovative European Financial Sector.’ The response sets out the EBA’s views on questions in the consultation paper that fall within the scope of the work of the EBA. The EBA provided responses on the following topics: Big data […]

Up next from FCA

FCA’s latest policy development update  provides information on its recent and upcoming publications. Only one key publication is shown as scheduled for June –  a policy statement on enhancing conduct of business rules for firms providing cfd products to retail clients. The policy statement on the first CP on IDD implementation is due in September, but there is […]

FCA publishes quarterly consultation

FCA’s latest quarterly consultation proposes changes to: TC to update the list of appropriate qualifications; SUP to clarify how the requirement to have a client assets report applies to loan-based crowdfunding platforms – primarily to clarify FCA’s expectation that these firms appoint an auditor to prepare and submit a client assets report; and also to […]