The Financial Services Authority is an independent financial regulatory body within the United Kingdom. The FSA establishes standards for most financial services markets, exchanges, and firms and pursues legal... more +
The Financial Services Authority is an independent financial regulatory body within the United Kingdom. The FSA establishes standards for most financial services markets, exchanges, and firms and pursues legal action against parties failing to comply with those standards.
In This Issue: UK’s FCA Restricts Marketing of Unregulated Collective Investment Schemes and Similar Products to Retail Investors; Electronic Structured Note Systems and U.S. Securities Regulation; and Reminders from...more
Today we celebrate that noted British comedian who made his fame in America – Bob Hope. ...more
Has the Financial Conduct Authority (“FCA”) in the UK started as it means to go on? The FCA recently fined a UK subsidiary of a private Swiss Bank for failing to establish and maintain effective anti-money laundering controls...more
On May 1, the FCA published a press release stating that it expects firms to review their regulatory status disclosures as a priority and ensure that they are up to date and accurate following the creation of the FCA and PRA...more
On April 19, the FCA and PRA (who together have taken over the powers of the FSA) published their respective approaches to investigating and reporting on regulatory failure, as required under the Financial Services Act 2012...more
Long-heralded reform of the UK financial services regulation architecture impacts the listed company regime. On 1 April, a new financial regulation architecture became operative in the UK through the Financial...more
On April 1, the long-awaited handover of power from the FSA to the “twin-peaks system,” consisting of the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), took place. The PRA, a branch of the Bank...more
The Financial Conduct Authority and the Prudential Regulation Authority begin work as the two new regulators in the wake of the long-heralded abolition of the Financial Services Authority....more
Coming as part of a UK government initiative to increase competition within the banking sector, the joint review covers reforms to the authorization process and prudential requirements for new banks. ...more
The fine has been levied for Prudential’s failure to inform the FSA that it was seeking to acquire the Asian arm of AIG at an appropriate time, in breach of FSA Principles and UKLA Listing Principles. ...more
On 1 April 2013, the division of the UK Financial Services Authority (FSA)’s regulatory functions took effect. The relevant regulators and institutions are now the Financial Conduct Authority (FCA), Prudential Regulatory...more
More than seven months after publishing its consultation paper, the European Securities and Markets Authority (ESMA) recently published final guidelines (Guidelines) on sound remuneration policies under the Alternative...more
In This Issue: *Financial Industry Developments - CFTC No-Action Relief for Commodity Trader Advisor Registration - CFTC Regulations on Associated Persons of Swap Dealers and Major Swap Participants -...more
On 19 March 2013, the UK Financial Services Authority (FSA) published Part II (CP2) of its three-part consultation series on Implementation of the Alternative Investment Fund Managers Directive (AIFMD). The consultation...more
The 2013 budget, delivered by the U.K.’s Chancellor of the Exchequer, George Osborne on March 20, incorporated a number of provisions affecting investment funds, which are included in a UK investment management...more
The UK’s Financial Services Act 2012 (the Act) will come into force on 1 April 2013. On implementation, the Act will amend many of the UK’s existing financial services legislative measures and give effect to several of the...more
On March 19, the UK Financial Services Authority (FSA) published Consultation Paper CP13/9, its second consultation on the rules and guidance required for the UK transposition of the EU Alternative Investment Fund Managers...more
In This Issue: *Financial Industry Developments - Agencies Issue Updated Leveraged Lending Guidance - CFTC No-Action Relief from Required Clearing for Some Partial Swap Novations and Terminations - FHFA...more
In this issue: - NASDAQ Proposes Internal Audit Function Requirement for Listed Issuers - FINRA’s Frequently Asked Questions on Electronic Blue Sheet Submissions Updated Regarding Order Execution Time -...more
The Prospectus Directive (the “PD”) and the Prospectus Directive Regulation (the “PD Regulation”) were recently amended, in each case with effect from 1 July 2012. These new rules introduced a number of significant changes...more
Following a prosecution brought by the FSA, Richard Joseph was found guilty at Southwark Crown Court of six counts of conspiracy to deal as an insider. Joseph received inside information from a print room manager at JP Morgan...more
FSA's methodology for calculating financial penalties is expected to lead to significantly higher fines than in the past. On 18 March, the UK Financial Services Authority (FSA) published a final notice imposing a fine...more
UK-based alternative investment fund managers should complete the survey, which responds to industry pressure regarding the time line for AIFMD authorisation applications, before the 28 March deadline....more
On March 6, the U.K. Financial Services Authority (FSA) issued a consultation paper (CP) to outline the regulatory regime for consumer credit markets after its regulatory powers transfer to the Financial Conduct Authority...more
Andrew Bailey, Head of the UK Prudential Regulation Authority, told Parliament’s Treasury Select Committee that some banks need more capital. Reuters reports that some of Britian’s largest banks need more cpaital, but the...more
JD Supra gets your content noticed, increases your visibility and makes your marketing efforts hassle free...
Learn More or Schedule a demo
