HM Treasury has launched a consultation on creating a Senior Managers and Certification Regime (SMCR) for financial market infrastructures (FMIs) supervised by the Bank of England (BoE). ...more
On 14 May 2021, the FCA published Consultation Paper CP21/13 outlining much-anticipated proposals relating to the standards expected of regulated firms to ensure the protection of retail consumers. The Consultation Paper...more
Latest FCA consultation focuses on remuneration, risk management and governance, and liquidity requirements. Key Points: The consultation: ..Sets out the FCA’s proposals for the new remuneration rules for FCA...more
The FCA has published a Consultation Paper that sets out proposed rules for the SMCR for benchmark administrators. Key Points: ..The SMCR for benchmark administrators (that perform no other regulated activities) will...more
The FCA recently released the latest in a long series of papers relating to the Senior Managers and Certification Regime (“SMCR”). FCA Consultation Paper CP19/4 sets-out new measures designed to “optimise” the SMCR ahead of...more
On 23 January 2019 the UK Financial Conduct Authority (FCA) published Consultation Paper CP19/4 which, amongst other things, proposes to exclude the Head of the Legal function from the Senior Managers Regime (SMR). The...more
The FCA seeks to clarify the position of the Head of Legal and the scope of the Client Dealing Function. Key Points: ..The FCA is proposing to exclude the Head of Legal from the scope of the Senior Managers Regime. ...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 U.K. Financial Authority has published Policy Statements confirming the rule changes it will apply to extend the application of the Senior Managers & Certification Regimes to all FCA solo-regulated firms (that is, firms...more
The Financial Conduct Authority has published a consultation paper setting out proposals to introduce a new directory of financial services workers. In the consultation paper, the FCA explains that one effect of the...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
FCA publishes final rules and further consultation on outstanding remedies under its asset management market study. Key Points: ..The FCA has published a Policy Statement (PS18/8) setting out final rules and guidance...more
The UK Financial Conduct Authority and Prudential Regulation Authority have issued further consultations on aspects of the extension of the Senior Managers and Certification Regime to all firms authorized under the Financial...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
The FCA will take a proportionate approach, reflecting the diversity of firms within the proposed regime’s remit. On 26 July 2017, the FCA published its long-awaited Consultation Papers on the extension of the Senior...more
FCA proposes amendments to UK rules and clarifies timing for applications by benchmark administrators. Key Points: ..The FCA is consulting on consequential changes to the Handbook, plus additional UK aspects of...more