LATEST NEWS

This following lists some of the latest announcements and articles relating to compliance within the financial services sector. It is built from many RSS feeds and is updated daily. The page can get quite large so if you are looking for a particular topic we suggest you use your browser's find bar.

Financial Conduct Authority

Fixed Return Bonds
We believe this firm has been providing financial services or products in the UK without our authorisation. Find out why to be especially wary of dealing with this unauthorised firm and how to protect yourself from scammers.
17 January 2020, 4:19pm

Brokers Community – Market Effect
We believe this firm has been providing financial services or products in the UK without our authorisation. Find out why to be especially wary of dealing with this unauthorised firm and how to protect yourself from scammers.
17 January 2020, 4:13pm

Prestige-Asset or Prestige Asset Management (clone of FCA authorised firm)
Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm. Find out more about this ‘clone firm’. 
17 January 2020, 4:00pm

Alter Capital
We believe this firm has been providing financial services or products in the UK without our authorisation. Find out why to be especially wary of dealing with this unauthorised firm and how to protect yourself from scammers.
17 January 2020, 3:34pm

Absolute Global Markets
We believe this firm has been providing financial services or products in the UK without our authorisation. Find out why to be especially wary of dealing with this unauthorised firm and how to protect yourself from scammers.
17 January 2020, 3:19pm

Aman Investment Group / Aman Trades
We believe this firm has been providing financial services or products in the UK without our authorisation. Find out why to be especially wary of dealing with this unauthorised firm and how to protect yourself from scammers.
17 January 2020, 3:18pm

Ibex Prime (a trading style of General Media OU)
We believe this firm has been providing financial services or products in the UK without our authorisation. Find out why to be especially wary of dealing with this unauthorised firm and how to protect yourself from scammers.
17 January 2020, 3:17pm

Is this the decade of the credit union?
Speech by Charles Randell, Chair of the FCA, delivered at the National Credit Union Forum, Penrith. .
17 January 2020, 12:10pm

Any1Profits
We believe this firm has been providing financial services or products in the UK without our authorisation. Find out why to be especially wary of dealing with this unauthorised firm and how to protect yourself from scammers.
16 January 2020, 4:39pm

Rabo Olsen Global (Clone of EEA authorised firm)
Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm. Find out more about this ‘clone firm’. 
16 January 2020, 10:50am

A.B.Capitals
We believe this firm has been providing financial services or products in the UK without our authorisation. Find out why to be especially wary of dealing with this unauthorised firm and how to protect yourself from scammers.
16 January 2020, 10:35am

Next steps for LIBOR transition in 2020: the time to act is now
The Bank of England (the Bank), Financial Conduct Authority (FCA) and the Working Group on Sterling Risk-Free Reference Rates (RFRWG) have published a set of documents today, outlining priorities and milestones for 2020 on LIBOR transition.
16 January 2020, 7:31am

FCA and Bank of England encourage switch from LIBOR to SONIA for sterling interest rate swaps from Spring 2020
The FCA and the Bank of England encourage market makers to change the market convention for sterling interest rate swaps from LIBOR to SONIA (the Sterling Overnight Index Average) in Q1 2020. This change is intended to move the greater part of new sterling swaps trading to SONIA and reduce the risks from creating new LIBOR exposures.
16 January 2020, 7:30am

Algebris Investment (clone of authorised firm)
Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm. Find out more about this ‘clone firm’. 
15 January 2020, 3:41pm

UK Financial Bonds
We believe this firm has been providing financial services or products in the UK without our authorisation. Find out why to be especially wary of dealing with this unauthorised firm and how to protect yourself from scammers.
14 January 2020, 2:36pm

UK Bonds
We believe this firm has been providing financial services or products in the UK without our authorisation. Find out why to be especially wary of dealing with this unauthorised firm and how to protect yourself from scammers.
14 January 2020, 2:35pm

UK Finance Investments
We believe this firm has been providing financial services or products in the UK without our authorisation. Find out why to be especially wary of dealing with this unauthorised firm and how to protect yourself from scammers.
14 January 2020, 2:02pm

Wise Investments (clone of authorised firm)
Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm. Find out more about this ‘clone firm’. 
14 January 2020, 12:34pm

FCA returns funds to land banking victims
The Financial Conduct Authority (FCA) has obtained High Court approval for a scheme to return £2.5 million to compensate victims of a series of unauthorised collective investment schemes.
14 January 2020, 10:00am

Compare ISA deals
We believe this firm has been providing financial services or products in the UK without our authorisation. Find out why to be especially wary of dealing with this unauthorised firm and how to protect yourself from scammers.
14 January 2020, 8:43am

Norton Rose Fulbright

Financial services: Regulation tomorrow

Regulators’ consult on FSCS management expenses levy limit for 2020/21
On 16 January 2020, the PRA and FCA co-published a consultation paper setting out proposals for the management expenses levy limit (MELL) for the Financial Services Compensation Scheme (FSCS) for 2020/21. The proposed MELL is £83.2 million for 2020/21, consisting of a management expenses budget of £78.2 million and an unlevied contingency reserve of £5...… Continue Reading
16 January 2020, 2:36pm

Next steps for LIBOR transition in 2020: the time to act is now
On 16 January 2020, the Bank of England (BoE), Financial Conduct Authority (FCA) and the Working Group on Sterling Risk-Free Reference Rates (RFRWG) published the following documents outlining priorities and milestones for 2020 on LIBOR transition: RFRWG’2 2020 priorities and milestones. The top five RFRWG priorities are: (i) cease issuance of GBP LIBOR-based cash products...… Continue Reading
16 January 2020, 2:35pm

Watch now: global asset management regulation webinar series
The recordings from our global asset management regulation webinar series are now available to watch on demand. In this series, our financial services team explored the key issues and requirements firms should be considering when looking to launch an overseas fund in Europe, Asia Pacific, the United States and Canada. Watch now: The AIFMD re-examined...… Continue Reading
15 January 2020, 4:12pm

FCA report on asset management portfolio tools
On 13 January 2020, the FCA published a new webpage setting out its findings on how asset management firms select and use risk modelling and other portfolio management tools. The basis for the review was to identify and manage relevant risks in the industry and assess how asset management firms utilised the tools and models...… Continue Reading
15 January 2020, 4:09pm

Fees (Cryptoasset Business) Instrument 2020
On 13 January 2020, there was published on the FCA website, The Fees (Cryptoasset Business) Instrument 2020 (the Instrument). The Instrument has been made by the FCA in exercise of the power conferred by regulation 102 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 as amended by...… Continue Reading
15 January 2020, 4:07pm

EBA consults on RTS on the treatment of non-trading book positions subject to foreign-exchange risk or commodity risk
On 13 January 2020, the European Banking Authority (EBA) launched a consultation on draft regulatory technical standards (RTS) on the treatment of non-trading book positions subject to foreign-exchange risk or commodity risk. The draft RTS have been developed in accordance with Article 325(9) of the amended Capital Requirements Regulation (CRR II). Article 325(9) mandates the...… Continue Reading
15 January 2020, 4:05pm

EBA report on Big Data and Advanced Analytics
On 13 January 2020, the European Banking Authority (EBA) published a report on Big Data and Advanced Analytics (BD&AA) in the banking sector. The reports aims to share knowledge on the current use of BD&AA by providing a background on this area, alongside key observations and outlining the key pillars and elements of trust that...… Continue Reading
15 January 2020, 4:03pm

FCA update on call for input on evaluation of the RDR and the FAMR
On 14 January 2020, the FCA updated its webpage concerning the call for input on the evaluation of the Retail Distribution Review (RDR) and the Financial Advice Market Review (FAMR). The FCA states that since issuing its call for input in May 2019 it has now received almost 300 responses from the 400 surveyed firms and will...… Continue Reading
15 January 2020, 2:53pm

Working Group on Sterling Risk-Free Reference Rates market consultation published on credit adjustment spread methodologies
The Working Group on Sterling Risk-Free Reference Rates has published a market consultation on credit adjustment spread methodologies for fallbacks in cash products referencing GBP LIBOR to assist cash markets, including the syndicated lending market, consider methodologies for credit adjustment spreads for fallbacks from LIBOR to a SONIA-derived rate that operate from a trigger date...… Continue Reading
15 January 2020, 2:09pm

Final report on initial coin offers (ICOs) and crypto-assets exchanges
Consob’s final report on initial coin offers (ICOs) and crypto-assets exchanges On 2 January 2020, following the publication of a discussion document on 19 March 2019 (on which you can find our previous article here), Consob (the Italian regulator supervising financial markets and listed companies) released its final report on initial coin offerings (ICOs) and...… Continue Reading
14 January 2020, 7:18pm