Financial Services Authority Asset Management

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.   less -
News & Analysis as of

SEC and EU Supervisory Cooperation for Asset Management Industry

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

Orrick's Financial Industry Week In Review - April 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

Summary of FSA Answers to Public Comments on Proposed Amendments to Asset Management Regulations as a Result of the AIJ Scandal

This Client Alert is a summary of important observations contained in the response of the Financial Services Agency of Japan (“FSA”) to public comments on proposed amendments to the various financial regulations of Japan in...more

FSA Expresses Concerns About Outsourcing by Asset Managers

On December 11, the UK Financial Services Authority (FSA) published a “Dear CEO” letter which had been sent to the CEO’s of regulated asset managers outlining its concerns about asset managers’ outsourcing arrangements....more

FSA Requires Asset Managers to Address Conflicts of Interest

On November 9, the UK Financial Services Authority (FSA) issued a paper entitled “Conflicts of interest between asset managers and their customers: Identifying and mitigating the risks” (the Paper). The Paper resulted from a...more

FSA Fines Manager for Systemic Suitability Failings

On November 14, the UK Financial Services Authority (FSA) announced that it had fined Savoy Investment Management Limited (Savoy) £412,000 (approximately $653,000) for failing to take reasonable care to ensure the suitability...more

FSA Consultation on the Implementation of the Alternative Investment Fund Managers Directive

On November 14, the FSA published its first consultation paper regarding the transposition of the Alternative Investment Fund Managers Directive (AIFMD) into UK law. The consultation paper sets out proposals on the...more

UK FSA Issues First Consultation on AIFMD Implementation

On 14 November 2012, the UK Financial Services Authority (FSA) published Part I (CP1) of its two-part consultation paper series on implementation of the Alternative Investment Fund Managers Directive (AIFMD) in the UK. The...more

The FSA’s Retail Distribution Review – Its Impact on Investment Fund Managers

Background - The FSA’s Retail Distribution Review (“RDR”) will come into effect on 31 December 2012. It is the culmination of six years of consultation and discussion (yielding 19 FSA Consultation Papers), FSA...more

FSA’s Administrative Sanctions on Investment Managers and a Trust Bank

On October 16, 2012, the Financial Services Agency of Japan (the “FSA”) announced administrative sanctions against an investment manager (a two month business suspension order and a business improvement order) and a trust...more

Tribunal Upholds FSA Decision to Ban and Fine Swiss Fund Manager and Two Former Cantor Fitzgerald Traders for Market Abuse

The Upper Tribunal (Tax and Chancery Chamber) (the “Tribunal”) has directed the FSA to fine Stefan Chaligné, a Swiss-based hedge fund manager £900,000, (plus disgorgement of the financial benefit he obtained of €362,950) and...more

FSA’s Proposal to Prevent the Recurrence of the AIJ Scandal and the Results of the Second Survey

On September 4, 2012, the Financial Services Agency of Japan (“FSA”) published its proposal of measures to prevent the recurrence of the AIJ scandal while providing the opportunity to the public to provide their opinions...more

FSA Consults on Proposals to Change Client Money and Custody Assets Regime

On 6 September 2012, the FSA published a consultation and discussion paper proposing changes to the client money and custody assets regime for firms undertaking investment business. The paper is split into three...more

FSA Publishes a Guidance Consultation on the Risks to Customers from Financial Incentives

On 5 September 2012, the FSA published a guidance consultation on the risks to customers from financial incentives (GC 12/11). ...more

FSA to Commence Further Thematic Work on Wealth Management

On August 29, the FSA published a statement saying that it has launched further thematic work into the wealth management sector. ...more

FSA Proposes to Ban Sales of Unregulated Funds to Retail Clients

On August 22, the UK Financial Services Authority (FSA) published Consultation Paper CP12/19 Restrictions on the Retail Distribution of Unregulated Collective Investment Schemes and Close Substitutes in which it proposes to...more

FSA Reports on Hedge Funds and Systemic Risk

On August 21, the UK Financial Services Authority (FSA) produced its latest half-yearly report Assessing Possible Sources of Systemic Risk from Hedge Funds. ...more

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