Financing the transition to Net Zero will necessitate fundamental changes to the businesses are managed. Here we take a look at practical steps senior leaders can take to address the challenges they face....more
BROKER-DEALER - FINRA Releases 2019 Annual Risk Monitoring and Examination Priorities Letter - On January 22, the Financial Industry Regulatory Authority (FINRA) issued its annual Risk Monitoring and Examination...more
Recent private equity investments in high-profile deals, such as Bain Capital’s acquisition of esure and Apollo’s acquisition of Aspen Insurance, have brought European insurance sector deal values to record highs. Regulatory...more
The FCA has published a second consultation on the Brexit onshoring project. Like the first, and many other Brexit onshoring documents, it is both long and very technical. However, a number of important policy points are...more
The Financial Conduct Authority has published a consultation paper on proposed guidance on the Statement of Responsibilities (SoR) and Responsibilities Maps required under the Senior Managers and Certification regimes. The...more
The FCA published a Discussion Paper on a duty of care and potential alternative approaches (DP18/5) on 17 July 2018. The FCA is exploring whether there should be a duty of care in the financial services sector. It is...more
BROKER-DEALER - SEC Releases Statement on Expiration of Tick Size Pilot - On September 10, the Securities and Exchange Commission announced the early expiration of its Tick Size Pilot Program. Under the program, the...more
Many EU and U.K. financial institutions have been waiting with bated breath for (and commencing their contingency plans without) a clear picture of what post-Brexit U.K.-EU financial services will look like. In this note we...more
BROKER-DEALER - FINRA Encourages Firms To Disclose Activities Related to Digital Assets - On July 6, the Financial Industry Regulatory Authority published Regulatory Notice 18-20, which encourages member firms to...more
SEC/CORPORATE - Delaware State Bar Association Council Releases Proposed Amendments to the Delaware General Corporation Law - The Corporate Council of the Corporation Law Section of the Delaware State Bar Association...more
CFTC - CFTC Approves Exemption From SEF Registration Requirements for Multilateral Trading Facilities and Organized Trading Facilities Authorized Within the EU - On December 8, in response to a request by the European...more
FCA Publishes Draft Rules to Extend the Senior Managers and Certification Regime to all Firms - The FCA published its long-expected consultation paper (CP17/25) on 26 July, with proposed rules to extend the senior managers...more
On 28 June 2017, the Financial Conduct Authority (FCA) published the Asset Management Market Study Final Report (the “Asset Management Review”) as well as a Consultation Paper setting out some proposed changes to the FCA’s...more
The United States is poised to usher in an era of decreased regulation of financial institutions while the trend in the United Kingdom maintains relatively robust regulation of the financial services sector in line with...more
FCA Publishes Dealing Commission Review Findings - The FCA have published their findings from a review that analysed dealing commission expenditure across 31 investment managers. The policy statement on the use of...more
On 23 June 2016, the UK shocked the world, and perhaps itself, when it voted in favour of a “Brexit” from the European Union. While the referendum result has brought significant uncertainty to the financial services sector,...more