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Compliance

How to comply with Asset Management Market Study rules on clarity and benchmarks

Last week (7 August), new FCA rules on clarity and benchmarks for fund managers came into force. The new rules are part of the regulator’s response to its Asset Management Market Study. Here, we look at what fund managers need to do now, and how you can make sure you comply with the new [...]

August 16th, 2019|Compliance|0 Comments

FCA and CMA team up to improve competition in the claims industry

The Financial Conduct Authority (FCA) and the Competition and Markets Authority (CMA) will work together to ensure effective competition for consumers using claim management companies. This week, the co-operation agreement between the two regulators was updated ‘to reflect the FCA’s new concurrent competition jurisdiction in relation to the provision of claims management services in [...]

August 9th, 2019|Compliance|0 Comments

Financial promotions and cryptoassets

On 31 July 2019, the Financial Conduct Authority (FCA) published final guidance on cryptoassets in its Policy Statement PS19/22 to provide a better protection to market participants. Section 21 of FSMA provides that a person must not, in the course of business, communicate an invitation or inducement to engage in investment activity unless that person [...]

August 8th, 2019|Compliance|0 Comments

FCA focuses on improving treatment of vulnerable customers

On 23 July, the financial regulator launched a consultation on proposed guidance for firms on the fair treatment of vulnerable customers. Launching the consultation, the FCA said that although ‘significant progress’ has been made in firms’ approaches to vulnerable customers, more consistency is needed across the industry. Some firms are still failing to consider vulnerable [...]

August 2nd, 2019|Compliance|0 Comments

New FCA guidance addresses what constitutes advice

This week (30 July) the Financial Conduct Authority published a package of proposals on pension transfer advice. The proposals aim to help consumers achieve better value from their pensions and to improve the quality of pension transfer advice. Among the issues covered is the question of what constitutes advice, and a proposal to introduce [...]

August 2nd, 2019|Compliance|0 Comments

FCA publishes final rules on extension of the SM&CR

Source: FCA The Financial Conduct Authority has published its final rules on the Senior Managers and Certification Regime (SM&CR). The rules, published on the regulator’s website are the final regulations on the extension of the SM&CR to FCA solo-regulated firms, including claims management companies. All solo-regulated firms will fall under the regime [...]

July 27th, 2019|Compliance|0 Comments