The regulator is providing temporary flexibility in light of concerns that asset managers need extra time to prepare.
On 9 September 2024, the FCA published a statement on its naming and marketing rules under the...more
9/11/2024
/ Asset Management ,
Climate Change ,
Corporate Governance ,
Deadlines ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Marketing ,
Portfolio Managers ,
Sustainability ,
Sustainable Business Practices ,
Sustainable Finance ,
UK
Despite some adjustments to the proposed guardrails, the FCA has largely retained its original approach.
On 26 July 2024, the FCA published its final rules on payment optionality for investment research (PS24/9)....more
Regulator finds that firms could improve how they conduct anti-money laundering checks when dealing with UK PEPs. ...more
The final guidance clarifies the scope and application date of the rule, and answers questions around good practice and accessing third-party data.
On 23 April 2024, the FCA published its final guidance (FG23/4) on its...more
The FCA is proposing to allow asset managers to rebundle payments for third-party research and trade execution.
On 10 April 2024, the FCA published its much-anticipated Consultation Paper on payment optionality for...more
Fighting financial crime, protecting consumers’ needs, and bolstering wholesale markets are the regulator’s key priorities for the year ahead.
On 19 March 2024, the FCA published its Business Plan for 2024/25, setting...more
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
The FCA’s long-awaited regime seeks to raise standards, increase consumer understanding, and reduce instances of greenwashing.
On 28 November 2023, the FCA published its Policy Statement (PS23/16) containing final rules on...more
The FCA has set out good and poor practices for asset managers to consider in relation to funds with ESG or sustainable characteristics.
On 16 November 2023, the FCA published the findings from its review of how asset...more
11/28/2023
/ Asset Management ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Governance Standards ,
Investment Funds ,
Investment Management ,
Sustainability ,
Sustainable Business Practices ,
UK
Businesses relying on exemptions for high net worth individuals and self-certified sophisticated investors should ensure they are prepared to comply with the updated requirements.
On 7 November 2023, HM Treasury...more
The FCA reminds market soundings recipients of their obligations under UK MAR best practices for trading during the market sounding period.
On 31 October 2023, the FCA published Market Watch 75 reminding firms of the...more
The FCA and the PRA have published their long-awaited consultations which aim to formalise how firms approach diversity and inclusion.
On 25 September 2023, the FCA and the PRA published separate but related consultation...more
10/2/2023
/ Compliance ,
Compliance Monitoring ,
Consultation ,
Corporate Governance ,
Disclosure Requirements ,
Diversity ,
Diversity and Inclusion Standards (D&I) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Proposed Regulation ,
Prudential Regulation Authority (PRA) ,
UK ,
Willful Misconduct
The EU regulators are reviewing the Sustainable Finance Disclosure Regulation introduced in 2021, exploring the need for potential additional adjustments.
On 14 September 2023, the European Commission initiated a...more
9/27/2023
/ Climate Change ,
Consultation ,
Disclosure Requirements ,
EU ,
European Commission ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Green Finance ,
Investment Products ,
SFDR ,
Sustainable Finance ,
UK
Regulator clarifies that existing FCA rules will continue to apply but will also reflect the evolving landscape of financial promotions on social media.
On 17 July 2023, the FCA published a guidance consultation (GC23/2)...more
7/21/2023
/ Affiliates ,
Comment Period ,
Consultation ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Promotions ,
Financial Services Industry ,
Guidance Update ,
High Risk Financial Products ,
Influencers ,
Marketing ,
Retail Investors ,
Social Media ,
UK
UK regulator follows the European Securities and Markets Authority in clarifying the scope of the trading venue perimeter.
On 5 July 2023, the FCA published its Policy Statement (PS23/11) containing final guidance on the...more
With the implementation deadline looming, the FCA has set out some additional guidance for firms.
With one month to go until the Consumer Duty (Duty) implementation deadline of 31 July 2023 (for new and existing products...more
What Is the Consumer Duty?
To recap, a core priority for the Financial Conduct Authority (FCA) is improving outcomes for consumers. The FCA has stated that it is concerned that, due to the way financial services markets...more
The spring of 2023 saw more dislocation in the global financial sector than any time since the 2008-09 financial crisis. In the US, banking institutions with over $500 billion in total assets failed, and other banks that were...more
6/5/2023
/ Banking Crisis ,
Banking Sector ,
Capital Requirements ,
Deposit Insurance ,
EU ,
Financial Crisis ,
Financial Regulatory Agencies ,
Financial Regulatory Reform ,
Global Economy ,
Liquidity ,
Regulatory Oversight ,
UK
The FCA has published the findings from its review of firms’ fair value assessment frameworks and set out implementation priorities for firms.
On 10 May 2023, the FCA published a speech by Sheldon Mills, FCA Executive...more
The Future Regulatory Framework and Consumer Duty will be key areas of focus for the coming year.
On 5 April 2023, the FCA published its Business Plan for 2023/24. The Business Plan sets out a number of priority areas...more
Consumer-facing companies face an increasingly complex UK regulatory landscape as multiple regulators place the spotlight on consumer rights and protections. A raft of new legislation is set to impact businesses and PE...more
4/5/2023
/ Buy Now Pay Later (BNPL) ,
Compliance ,
Consumer Contracts ,
Consumer Credit Protection ,
Consumer Financial Products ,
Financial Conduct Authority (FCA) ,
New Legislation ,
Portfolio Companies ,
Private Equity ,
Retail Investors ,
Sponsors ,
UK
The consultation considers what a potential regulatory regime would look like, and its proposed scope.
On 30 March 2023, HM Treasury published a consultation on regulating ESG ratings providers, which ties in with and...more
3/31/2023
/ Consultation ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Green Finance ,
HM Treasury ,
IOSCO ,
Rating Agencies ,
Rating System ,
Ratings ,
Regulatory Oversight ,
Third Country Entities (TCEs) ,
UK
The regulator is concerned that ESG-related disclosures are not meeting expectations.
The FCA has published a Dear CEO letter sent to benchmark administrators on 20 March 2023, expressing concerns about the quality of...more
The letters ask senior management to prioritise implementing the Duty.
On 3 February 2023, the FCA published Dear CEO/Director letters underscoring the immediate (i.e., during the implementation period up until 31 July...more
2/7/2023
/ Consumer Credit Protection ,
Consumer Lenders ,
Dear CEO Letter ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
Insurance Industry ,
Investment Adviser ,
Mortgage Lenders ,
Senior Managers ,
UK
The FCA has reviewed firms’ progress to embed the Duty into their businesses, providing good and poor practice examples for firms to improve and direct their implementation work.
The Consumer Duty (Duty) rules (as set...more