News & Analysis as of

Financial Adviser United Kingdom

Latham & Watkins LLP

FCA Explores How to Close the “Advice Gap”

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The Discussion Paper on the Advice Guidance Boundary Review examines how authorised firms can provide more support to customers. The FCA has published a Discussion Paper (DP23/5) with the government on the Advice...more

A&O Shearman

UK Government Publishes Brexit Freedoms Bill Setting Deadline for Revocation of EU Law

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The U.K. Government has published the Retained EU Law (Revocation and Reform) Bill, known as the Brexit Freedoms Bill, which aims to repeal or assimilate retained EU law and abolish the principle of the supremacy of EU law in...more

White & Case LLP

HM Treasury report on UK Secondary Capital Raising Review

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HM Treasury publishes the outcome and recommendations of the UK Secondary Capital Raising Review - On 19 July 2022, HM Treasury published the final report (the "Report") of the UK Secondary Capital Raising Review, which...more

A&O Shearman

Tightening the Financial Promotions Framework in the UK

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Striking a balance between investor protection and market development - The U.K. is assessing its financial promotion framework, and changes are being made or proposed to amend the laws and rules. Financial promotions are...more

A&O Shearman

Upper Tribunal upholds FCA’s decision to ban financial adviser convicted of non-financial misconduct

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The Financial Conduct Authority (FCA) has imposed a ban on a financial adviser with a criminal conviction for non-financial misconduct, despite the case being contested in the Upper Tribunal. Although the FCA’s policy on...more

Dechert LLP

Investment Funds Update - Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

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Commons Treasury Committee report on crypto-assets - The House of Commons Treasury Committee published its report on crypto-assets. The report relates to the digital currencies inquiry the Committee launched earlier this...more

A&O Shearman

No vicarious liability for fraudulent financial adviser using company online portal

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No vicarious liability arises for a company where one of its agents perpetrates a fraud in the course of a recognisably independent business. This applies even where, to facilitate the fraud, the agent uses an online portal...more

A&O Shearman

UK Financial Conduct Authority Publishes Measures to Improve the UK Financial Advice Market

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The Financial Conduct Authority has published a Policy Statement setting out new Handbook rules and guidance to implement some of the recommendations arising from the Financial Advice Market Review launched by the FCA jointly...more

Hogan Lovells

UK: Government sets out in the Queen's Speech measures for protecting insurance customers

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The government has today set out the details of its legislative programme for the next two years in the Queen’s Speech.  One of the issues to be addressed in this parliamentary session will be tackling the “compensation...more

Jones Day

FCA Announces Review on Availability of Information Before IPO

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May 2017 On 1 March 2017, the FCA published a consultation paper proposing a number of policies aimed at improving the information made available to investors during the initial public offering ("IPO") process. The paper also...more

Hogan Lovells

Corporate News – January 2017

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First director disqualification: UK focus on pursuing individuals as well as companies for breach of competition law - The UK's Competition and Markets Authority has secured its first disqualification of a director of a...more

A&O Shearman

Abandoning Bolam: a new standard for advising on investment risk

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There has been a change in how the court will assess whether a financial advisor has used reasonable care and skill when giving investment advice. Following Supreme Court case law in the medical negligence field, Kerr J...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Some good news for the UK after a brutal few days for the pound? It appears that the pound’s precipitous fall has acted as a sort of “giant shock absorber” against Brexit—a release valve of sorts that has meant decreased...more

A&O Shearman

HM Treasury Consults on Definition of Financial Advice

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HM Treasury published a consultation paper on amending the definition of regulated advice under the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 to bring it in line with the definition of...more

A&O Shearman

UK Regulator Consults on Qualification Standards for Financial Advisers

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The Financial Conduct Authority published a consultation paper on proposed updates to the current appropriate qualification examination standards. Individuals within regulated firms that, for example, advise on securities,...more

A&O Shearman

Latest Keydata enforcement action sets out valuable lessons for compliance officers

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In this decision report we consider the FCA's final notice issued to Peter Francis Johnson on 19 May 2016. ?Mr Johnson was formerly the compliance officer and money laundering reporting officer (MLRO) for Keydata...more

A&O Shearman

FCA Fines And Bans Financial Adviser For Committing Market Abuse

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In this decision report we consider the FCA's final notice issued to Mark Samuel Taylor on 5 May 2016. Mr Taylor was fined £36,285 (reduced from £78,819 on the grounds of serious financial hardship) and banned from performing...more

A&O Shearman

Ex-Financial Adviser Fined for Insider Dealing and Banned from Industry

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The Financial Conduct Authority issued a final notice fining Mr. Mark Samuel Taylor for insider dealing and banning him from the UK financial services industry. On March 12, 2015, Mr. Taylor bought 5,582 shares in Ashcourt...more

Dechert LLP

Investment Funds Update - Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

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PRA and FCA Reject the Position Taken on CRD IV Bonus Cap Proportionality in the EBA’s New Remuneration Guidelines - The PRA and FCA notified the European Banking Authority (EBA) that they will comply with all aspects of...more

Pillsbury Winthrop Shaw Pittman LLP

The Cape Town Convention in the UK: Effective 1 November 2015

Following accession to the Cape Town Convention1 by the UK on 27 July 2015, the International Interests in Aircraft Equipment (Cape Town Convention) Regulations 2015 (the “Regulations”) will enter into force on 1 November...more

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