Financial Services Authority, EU

Serious Fraud Office Closes Forex Investigation

K&L Gates LLP on 5/3/2016

The Serious Fraud Office (SFO) recently announced that it had closed its criminal investigation into allegations of fraudulent conduct in the foreign exchange (FX) market. The SFO began its investigation in July 2014...more

SEC Chair and European Union Financial Services Commissioner Meet

Orrick - Finance 20/20 on 3/2/2015

On February 26, the SEC Chair Mary Jo White hosted a meeting with European Union Financial Services Commissioner Jonathan Hill. Chair White and Commissioner Hill discussed the importance of international cooperation in...more

ESA Publishes Second Report on Risks Facing the EU Financial System

Orrick - Finance 20/20 on 9/12/2013

On September 5, the Joint Committee of the European Supervisory Authorities (ESAs) published its second twice yearly report on the vulnerabilities of the financial system of the EU....more

SEC and EU Supervisory Cooperation for Asset Management Industry

Orrick - Finance 20/20 on 7/23/2013

On July 19, the SEC announced that it signed various memoranda of understanding with the financial regulators of 25 member states of the EU and 3 regulators of the European Economic Area as part of a long-term strategy to...more

Financial Services Quarterly Report - Second Quarter 2013: UK: New Regulators; New Powers

Dechert LLP on 6/28/2013

The UK Financial Services Authority (“FSA”) was abolished on 1 April 2013 and replaced by three new regulators. The Financial Services Act 2012 introduced the Financial Conduct Authority (“FCA”), the Prudential Regulatory...more

Has the FCA started as it means to go on?

Dechert LLP on 5/18/2013

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

FCA Urges Firms to Update Status Disclosures to Reflect Creation of the FCA and PRA

Orrick - Finance 20/20 on 5/9/2013

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

New UK Financial Regulation Architecture Takes Effect

Morgan Lewis on 4/8/2013

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

European Securities and Markets Authority Guidelines on Sound Remuneration Policies under the AIFMD

Dechert LLP on 4/4/2013

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

Orrick's Financial Industry Week In Review - April 2, 2013

Orrick, Herrington & Sutcliffe LLP on 4/2/2013

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

UK Regulators Propose Implementing Rules and Regulations on AIFMD

Proskauer Rose LLP on 3/29/2013

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

Implications of the UK 2013 Budget for Investment Funds

Orrick - Finance 20/20 on 3/29/2013

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 strategy. ...more

Orrick's Financial Industry Week in Review - March 25, 2013

Orrick, Herrington & Sutcliffe LLP on 3/25/2013

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

Corporate and Financial Weekly Digest - March 22, 2013

Katten Muchin Rosenman LLP on 3/25/2013

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 FSA and ESMA Get Technical on Prospectuses

Morrison & Foerster LLP on 3/21/2013

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

UK Financial Services Authority Releases AIFMD Regulatory Survey

Morgan Lewis on 3/18/2013

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

FSA Updates Guide to the New PRA and FCA Handbooks

Katten Muchin Rosenman LLP on 2/27/2013

On February 19, the UK Financial Services Authority (FSA) published an updated “one-minute guide” summarizing the changes to the FSA Handbook that will come into effect when the FSA’s two successor regulatory bodies, the...more

Corporate and Financial Weekly Digest - February 22, 2013

Katten Muchin Rosenman LLP on 2/25/2013

In this issue: - International Regulators Publish “Near-Final” Draft of Uncleared Swap Margin Rules - CFTC and IOSCO to Host Roundtable on IOSCO Financial Benchmarks Report - SDNY Favors the SEC in Foreign...more

FDIC Proposes to Nix Insurance for Dually Payable Deposits—With an Upside and a Nod to International Cooperation

Morrison & Foerster LLP on 2/22/2013

On February 12, the Federal Deposit Insurance Corporation (“FDIC”) proposed for public comment a rule that would exclude from federal deposit insurance coverage those deposits made at insured U.S. banks that are payable at a...more

FSA Fines UBS £9.45 Million for Failings in AIG Fund Sales

Orrick - Finance 20/20 on 2/21/2013

On February 12, the FSA published a final notice issued to UBS AG, setting out a fine of £9.45 million in respect of failings identified in its sale of the AIG Enhanced Variable Rate Fund (the Fund). Having reviewed sales of...more

Orrick's Financial Industry Week In Review - February 19, 2013

Orrick, Herrington & Sutcliffe LLP on 2/19/2013

In This Issue: - Financial Industry Developments •CFPB Implementation Plan for Mortgage Rules •FDIC Proposed Rule on Insured Deposits at Foreign Branches of U.S. Banks •CFPB Bulletin on Servicers'...more

RBS Fined £87.5 Million over LIBOR Rates

Orrick - Finance 20/20 on 2/12/2013

On February 6, the FSA issued a final notice to RBS imposing a fine of £87.5 million for misconduct in submitting rates for the calculation of LIBOR....more

RBS Fined £87.5 Million over LIBOR Rates

Orrick - Finance 20/20 on 2/12/2013

On February 6, the FSA issued a final notice to RBS imposing a fine of £87.5 million for misconduct in submitting rates for the calculation of LIBOR....more

Interest Rate Hedging Products: Review of Misselling

Orrick - Finance 20/20 on 2/5/2013

On January 31, the FSA published a report of its findings from pilot reviews conducted by banks into the misselling of interest rate hedging products to small businesses....more

Orrick's Financial Industry Week in Review - February 4, 2013

Orrick, Herrington & Sutcliffe LLP on 2/5/2013

In This Issue: *Financial Industry Developments - SEC Extends Exemptions for Security-Based Swaps - Fed Announces Release Dates for Results of Supervisory Stress Tests and CCAR - Rating Agency Developments...more

Financial Services Authority › European Union

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