The current investment landscape presents an opportunity to align operating, legal and governance approaches to ensure long-term value through sustainable business conduct. Firms who implement their commitment to...more
The Coronavirus outbreak has presented UK financial services firms (as well as other businesses) with sudden and significant challenges. Various responses have been and are being initiated by the relevant authorities. ...more
Following our previous update on the various regulatory responses to the Coronavirus crisis, we set out here a summary of the key developments that have materialised since. As we observed in our previous update, there are two...more
The impact of the Coronavirus crisis has been sudden and steep in the UK. There has been a huge number of announcements and initiatives of relevance to the UK financial services industry. We have selected the key items that...more
Under the Senior Managers and Certification Regime (“SMCR”), firms are required to identify and report to the FCA any instances of disciplinary action taken in relation to conduct that would amount to a breach of one of the...more
2/10/2020
/ Artificial Intelligence ,
Banking Sector ,
Blockchain ,
Bribery ,
Cartels ,
Corporate Governance ,
Corporate Misconduct ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Insurance Industry ,
Payment Systems ,
Risk Management ,
SMCR ,
Technology ,
UK ,
United Arab Emirates (UAE) ,
Whistleblower Protection Policies
Welcome to our Funds First Update. In this briefing we set out an overview of some of the main developments and upcoming changes that we think will be of impact to fund managers, fund investors and to the funds sector as a...more
2/6/2020
/ Alternative Investment Funds ,
Anti-Corruption ,
Anti-Money Laundering ,
Asset Management ,
Corporate Governance ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Fund Managers ,
Senior Managers ,
SMCR ,
UK Brexit
What is it?
The EU has finalised and issued a new framework for the prudential regulation of investment firms. It will set new classification for investment firms that will in turn determine which of the new capital...more
12/2/2019
/ AIFM ,
Banking Sector ,
Capital Requirements ,
Capital Requirements Directive IV (CRDIV) ,
Capital Requirements Regulation (CRR) ,
EU ,
European Banking Authority (EBA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Investment Firms ,
Investment Management ,
MiFID II ,
Prudential Regulation Authority (PRA) ,
Prudential Standards ,
Regulation Technical Standards (RTS) ,
UCITS ,
UK Brexit
At our recent Funds First seminar we shared some technical and market issues and updates on the Senior Managers and Certification Regime (SMCR) and the FCA’s current cross-sector focus on culture. This briefing sets out some...more
In March 2018 the European Commission published a draft package of measures aimed at reducing barriers to the cross-border distribution of investment funds. The proposed approach involves aligning the rules between different...more
4/25/2019
/ AIFM ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Capital Markets Union ,
Cross-Border ,
EU ,
European Commission ,
General Solicitation ,
Marketing ,
Money Market Funds ,
Policy Drafting ,
Private Placements ,
Proposed Legislation ,
Third Country Entities (TCEs) ,
UCITS ,
UK Brexit
The financial services industry is often referred to as the jewel in the crown of the UK, but as the possibility of a “no-deal” draws ever closer, what measures are being put in place to ensure that the financial services...more
3/6/2019
/ Cross-Border Transactions ,
EU ,
EU Directive ,
EU Passport ,
European Economic Area (EEA) ,
Financial Services Industry ,
Member State ,
No-Deal Brexit ,
UK ,
UK Brexit ,
Withdrawal Agreement
Welcome to our Funds First Update. Whilst a lot of focus at present is on Brexit and the uncertainties surrounding that process, there have been a great many other developments in the past few months that are of relevance to...more
2/28/2019
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Anti-Money Laundering ,
Capital Gains ,
Corporate Governance ,
EU ,
Financial Services Industry ,
Investment Funds ,
Liquidity Coverage Ratio ,
MiFID II ,
MLD5 ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
SMCR ,
UK ,
UK Brexit