TMPR: FCA update on adding new sub-fund to umbrella scheme - The UK Financial Conduct Authority (FCA) has updated its webpage on adding a new sub-fund to an umbrella scheme in the temporary marketing permissions regime (TMPR)...more
TMPR: FCA webpage on adding new sub-fund to umbrella scheme - The UK Financial Conduct Authority (FCA) has published a new webpage on adding a new sub-fund to an umbrella scheme that will be in the temporary marketing...more
The U.K. Financial Conduct Regulator has published a “Dear Chairman” letter addressed to Authorized Fund Managers requesting them to review certain aspects of the liquidity management arrangements for the authorized funds...more
U.S. Developments - Regulatory Developments - Commissioner Hester Peirce Speaks Before the SUSS Convergence Forum: Inclusive Blockchain Finance, and Emerging Technologies - On August 1, 2019, Securities and Exchange...more
Partners Julia Smithers Excell and Stuart Willey, and associate Laura Kitchen of global law firm White & Case take a deep dive on the latest publications from EU and UK regulators aimed at providing supervisory clarity on the...more
Following its commitment within the report issued on 30 October 2018 by the UK’s Cryptoassets Taskforce1, on 23 January 2019 the FCA issued a Consultation Paper (“CP 19/3”)2 setting out draft regulatory guidance in respect of...more
The UK FCA launched on 23 January 2019 its highly anticipated consultation1 (CP19/3) on Guidance for market participants as to where certain cryptoassets sit in relation to the regulatory perimeter - and whether relevant...more
FCA Consults on Rules for Post-Brexit Temporary Permissions Regime for Incoming EEA Firms and Funds - The UK government is proposing to implement a “temporary permissions regime” to cover “inbound” European Economic Area...more
The U.K. Financial Conduct Authority has launched a consultation on illiquid assets and open ended funds, following responses from stakeholders to a discussion paper it issued early in 2017. After observing the impact of...more
FCA statement on authorisation for firms offering cryptocurrency derivatives - The (Financial Conduct Authority) FCA has stated that cryptocurrency derivatives are capable of being financial instruments under the Markets...more
A compact summary of the most recent regulatory developments relevant to the UK asset management industry. This issue includes details of the FCA’s approach to authorisation; action taken on closet tracking funds; proposed EU...more
1 February - The European Commission ("EC") launched the EU Blockchain Observatory and Forum in order to highlight key developments of blockchain technology, promote and reinforce European engagement with multiple...more
A compact summary of the most recent regulatory developments relevant to the UK asset management industry. This issue includes details of the situation for financial services rules and regulations during the Brexit...more
FCA Chief Executive Comments on FCA Mission and Brexit - The FCA has published a speech by Andrew Bailey, FCA Chief Executive, at the FCA's 2016 annual public meeting on 19 July 2016. Mr Bailey stated that the FCA...more
The Financial Conduct Authority published a consultation paper outlining proposed changes to the rules and guidance in the Client Assets sourcebook and the Collective Investment Schemes sourcebook (COLL), following the...more
The UK’s Supreme Court has handed down its judgment in Asset Land Investment Plc -v- the FCA. The judgment, which upholds the decisions of the lower Courts, is consistent with the FCA’s long-held position on the meaning and...more
The UK’s Supreme Court has confirmed that it will hand down its judgment in Asset Land Investment Plc -v- the FCA tomorrow morning....more
Article 3 of the Collective Investment Schemes Order (SI 2001/1062) (the Order) makes it clear that “A personal pension scheme [is] not … a collective investment scheme“, but it doesn’t tell us whether “personal pension...more
The Supreme Court has refused to give the 16 defendants (*) in the FCA -v- Capital Alternatives Limited case permission to appeal against the decision of the Court of Appeal that an African Land Scheme and a Carbon Credit...more