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

Global Wealth Asia (clone)
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’. 
19 October 2018, 11:11am

Ellis David Insurance Brokers (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’. 
19 October 2018, 10:41am

Loan For Tenant (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’. 
19 October 2018, 10:15am

Red Arc Global Investments plc (clone of an FCA recognised collective investment scheme)
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.
19 October 2018, 9:56am

Square Global Ltd t/a Square Global Enterprise (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’. 
18 October 2018, 2:47pm

Scrilliy (clone)
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’. 
18 October 2018, 2:43pm

Regulation round-up October 2018
Regulation round-up is our monthly email to all regulated firms, updating you on the latest news that affects your sector.
18 October 2018, 2:00pm

New events added for Live & Local 2018/19 programme
In addition to previously announced events scheduled up to December 2018, we are now opening registration for events taking place in January, February and March 2019. 
18 October 2018, 1:37pm

Going green: the FCA’s developing approach
Speech by Christopher Woolard, Executive Director of Strategy and Competition, delivered at the FCA’s Innovating for a Greener Great Britain event, London.
18 October 2018, 9:00am

FCA and TPR publish joint pensions strategy
The Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) have today launched a joint regulatory strategy aimed at strengthening their relationship, and taking joint action to deliver better outcomes for pension savers and those entering retirement.
18 October 2018, 8:02am

Marcel Miller (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’. 
17 October 2018, 11:54am

Padmar Investments Limited (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’. 
17 October 2018, 9:25am

Cullen Price Group
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 October 2018, 4:04pm

Trust and ethics – a regulator’s perspective
Speech by Andrew Bailey, Chief Executive of the FCA, delivered at the launch of the St Mary’s University School of Business and Society, London.
16 October 2018, 1:43pm

Unicominsurance.net (clone)
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 October 2018, 11:10am

FCA confirms greater access for SMEs to the Financial Ombudsman Service
The Financial Conduct Authority (FCA) has today confirmed plans to extend access to the Financial Ombudsman Service (‘the ombudsman service’) to more small and medium-sized enterprises (SMEs).
16 October 2018, 9:53am

FCA opens a discussion on the impact of climate change and green finance on financial services
The Financial Conduct Authority (FCA) has today published a Discussion Paper on climate change and green finance.
15 October 2018, 10:18am

Capital Assets UK (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’. 
12 October 2018, 5:23pm

Deutsche Capital Management Ltd (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’. 
12 October 2018, 2:23pm

Gerber and Partners
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.
11 October 2018, 4:06pm

Norton Rose Fulbright

Financial services: Regulation tomorrow

CFTC Commissioner Brian Quintenz warns smart contract code developers may be held liable for violations of CFTC regulations
On October 16, 2018, Commissioner Brian Quintenz of the Commodity Futures Trading Commission (“CFTC”) shared his views on smart contract regulation by the CFTC. In his speech at the 38th Annual GITEX Technology Week Conference, in discussing a hypothetical where code in a smart contract was specifically designed to enable a type of activity regulated...… Continue Reading
19 October 2018, 9:10pm

Can cryptocurrency be used to post bail?
An interesting issue arose recently when a defendant was arrested on federal charges of stealing $342,000 worth of digital assets, and tried to post bond using cryptocurrency. Sue Ross has written a post for our Brand Protection Blog that includes a discussion of the case and whether the FBI permitted the defendant to post bail...… Continue Reading
19 October 2018, 9:04pm

Regulation on the Supervision of Trust Offices 2018 published for consultation
On 19 October 2018, the Regulation on the Supervision of Trust Offices 2018 (Regeling toezicht trustkantoren 2018, the Proposed Regulation) was published for public consultation. The Proposed Regulation contains: exemptions from the licence obligation under the Act on the Supervision of Trust Offices 2018 (Wet toezicht trustkantoren 2018); and an overview of the information and...… Continue Reading
19 October 2018, 4:39pm

AFM publishes MMFR application and notification forms
On 10 October 2018, the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, AFM) published the following forms in relation to the Money Market Funds Regulation (MMFR) in its Digital Portal: an application form to be used by managers of alternative investment funds (AIFs) and undertakings for collective investment in transferable securities (UCITS) to...… Continue Reading
19 October 2018, 4:35pm

Draft Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018
On 18 October 2018, a draft version of the Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018, as laid before Parliament, were published on the legislation.gov.uk website. A draft explanatory memorandum has also been published. Our previous blog on the draft statutory instrument can be found here.… Continue Reading
19 October 2018, 1:06pm

Change to supervising remuneration compliance for Level One firms
On 17 October 2018, the PRA published a Dear Chair of the Remuneration Committee letter. In advance of the annual review of firms’ remuneration policies and practices, the PRA is updating the way in which it supervises compliance within the requirements of the Remuneration Part of the PRA Rulebook. The update affects remuneration proportionality Level...… Continue Reading
19 October 2018, 1:04pm

Political agreement on the relocation of the EBA
On 17 October 2018, the Council of the EU has issued a press release stating that the Permanent Representatives Committee has approved an agreement with the European Parliament for the relocation of the European Banking Authority to Paris.… Continue Reading
19 October 2018, 1:01pm

Statement on leverage ratio window-dressing behaviour
On 18 October 2018, the Basel Committee on Banking Supervision (Basel Committee) issued a statement on ‘leverage ratio window-dressing behaviour’. This is a form of temporary reductions of transaction volumes in key financial markets around reference dates resulting in the reporting and public disclosure of elevated leverage ratios. The Basel Committee states that window dressing...… Continue Reading
19 October 2018, 12:57pm

Leverage ratio treatment of client cleared derivatives
On 18 October 2018, the Basel Committee on Banking Supervision (Basel Committee) issued a consultative document seeking views on whether a targeted and limited revision of the leverage ratio’s treatment of client cleared derivatives may be warranted. The leverage ratio complements the risk-based capital requirements by providing a safeguard against levels of leverage and by...… Continue Reading
19 October 2018, 12:05pm

Bank forced to turn over SARs in data protection dispute
In a judgment recently published by the High Court (available here), a claimant has been granted the right to inspect suspicious activity reports (SARs) filed by his bank. The Court made the order in interlocutory proceedings brought in the course of an individual’s claim against his bank for breach of contract, breach of the Data...… Continue Reading
19 October 2018, 9:09am