Tag Archives: FCA

Up next from FCA

FCA’s latest Policy Development Update promises, among other things: policy statement on regulatory fees and levies by the end of March; the delayed policy statement on further implementation of the FAMR; consultation on the Money Market Funds Regulation in January; the final policy statement and near final IDD rules, also in January; and consultation in […]

FCA sends ‘Dear CEO’ letter following CFD market review

Following its review of the contracts for difference (CFD) market, the FCA has written to the CEOs of providers and distributors of CFDs to highlight specific concerns. The letter warns that there are areas of serious concern regarding the following areas: target market identification, and alignment to the characteristics of the product; communication, oversight and […]

FCA updates Enforcement Guide as PRIIPs Regulation comes into force

The FCA has published a legislative instrument that amends its Enforcement Guide to reflect the implementation of the Packaged Retail and Insurance-based Investment Products Regulation (PRIIPs Regulation). The changes to the Enforcement Guide outline the FCA’s approach to enforcement of the PRIIPs Regulation, and came into force on 4 January 2018.

Charles Randell becomes new FCA and PSR chair

Charles Randell CBE has been appointed the new chair of FCA and the PSR with effect from 1 April.

MiFID 2 implementation day

MiFID 2 implementation date has finally arrived.  We have written an article to remind firms of the key changes and action points. FCA has also published a series of updates covering: transitional arrangements for trading venues, which confirms FCA has agreed a transitional arrangement for ICE Futures Europe and LME, such that the open access […]

Treasury confirms establishment of Office for Professional Body AML Supervision

Following the announcement earlier this year of the new Office for Professional Body Anti-Money Laundering Supervision (OPBAS), which will operate within the FCA to oversee the 22 accountancy and legal professional body AML supervisors in the UK, the Treasury has confirmed that the necessary OPBAS regulations have been laid in Parliament and will take effect […]

Treasury, FCA and EIOPA issue statements regarding continuity of activities and services after Brexit

Along with the PRA’s publication of consultation papers on its intended approach to supervision of third country firms, the Treasury, FCA and ESMA have recently issued statements providing an update on provision to enable firms across Europe to continue to do business after Brexit. The Treasury has announced that if necessary (ie depending on the […]

FCA updates AIFMD transparency reporting information

FCA has published updated guidance on reporting Annex IV transparency information under the Alternative Investment Fund Managers Directive (AIFMD). The document details: Transparency reporting requirements (pursuant to both the AIFMD and the FCA Handbook); How this information is submitted to the FCA (via the Gabriel system); The form of report (AIF001 Manager Report and AIF002 Fund Transparency Report); and […]

ESMA and FCA issue statements on LEIs

In advance of the implementation date for MiFID II on 3 January 2018, ESMA has issued a public statement that provides a form of 6 month transitional period for certain trading venues and certain legal persons, to support the introduction of Legal Entity Identifier (LEI) requirements.  This includes provision that trading venues whose non-EEA issuer […]

FCA publishes second IDD policy statement

As the implementation date for the Insurance Distribution Directive (IDD) approaches, the FCA has published the second of its three policy statements on the implementation of IDD, PS17/27.  This policy statement contains near-final amendments to the FCA’s rules to enable firms to be able to prepare based on the substance of what the final versions […]