Understanding Scope of Practice
Evolving State Supervision: Issues Arising from State Qualification Standards and 'SAFE' Act Licensing, and Coordination with the CFPB
Regulator finds that firms could improve how they conduct anti-money laundering checks when dealing with UK PEPs. ...more
The UK Financial Conduct Authority (FCA) is entering the final year of its 2022-2025 strategy, which features a commitment to be more innovative, assertive and adaptable. Its 2024/25 Business Plan outlines how the regulator...more
The FCA has, for many years, had an extensive range of powers available to it to require firms to undertake redress exercises. These powers have historically not been used by the FCA that frequently. Our expectation, however,...more
In the build-up to his appointment as chief executive of the Financial Conduct Authority (FCA) in 2020, Nikhil Rathi stated that his vision for the regulator involved “a stronger, prompter approach to enforcement”. This...more
Chartered accountants are accustomed to continuous oversight of their work by regulators. While regulatory supervision can often be a collaborative process, it does sometimes culminate in individual accountants and firms...more
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
At the end of July 2021, the FCA published a consultation paper, CP21/25, setting out proposals to reduce the decision-making remit of its quasi-independent Regulatory Decisions Committee (“RDC”) and instead bring those...more
The U.K. Financial Conduct Authority has published a series of updates to the FCA Handbook relating to the U.K.’s exit from the EU on January 31, 2020, including...more
FCA Publishes a Closet Tracking Fund Webpage - The FCA published a new webpage on 14 March 2018, outlining its recent work on closet tracking funds. The FCA considers that closet tracking funds look like, and charge...more
The U.K. Financial Conduct Authority has published two consultations, seeking feedback on draft documents setting out its regulatory approach to supervision and enforcement. The two documents, once finalized, will form part...more
On September 18, the UK Financial Conduct Authority (FCA) published two papers with new guidance (the “Guides”) regarding how it will supervise different types of UK regulated financial services firms in the future. ...more
SEC/CORPORATE - SEC Advisory Committee on Small and Emerging Companies Makes Recommendations - On September 23, the Securities and Exchange Commission Advisory Committee on Small and Emerging Companies (Advisory...more
On September 3, the Financial Conduct Authority (FCA) published issue 49 of Market Watch, its newsletter on market conduct and transaction reporting issues. In it, the FCA sets out its findings following a thematic review it...more