Cryptoassets: AML/CTF Regime
From 10 January 2020, the FCA will be the anti-money laundering and counter terrorist financing supervisor of UK cryptoasset businesses under the Money Laundering, Terrorist Financing and Transfer of Funds […]
FCA extends the Senior Managers and Certification Regime to 47,000 firms
The FCA has extended the Senior Managers and Certification Regime (SM&CR) to around 47,000 additional firms as of 9 December. The FCA stated that this further extension is a key […]
FCA to ban promotion of speculative mini-bonds to retail consumers
The FCA has announced that it will ban the mass marketing of speculative mini-bonds to retail consumers. The FCA ban will mean that unlisted speculative mini-bonds can only be promoted […]
New form to notify FCA of management body changes for non-SMF Directors
From 9 December 2019, MIFID investment firms and optional exempt firms need to use a new form to submit information to the FCA when appointing Non-SMF Directors to, or withdrawing […]
The FCA fines Tullet Prebon £15.4m
The FCA has fined Tullett Prebon (Europe) Limited £15.4 million for failing to conduct its business with due skill, care and diligence, failing to have adequate risk management systems and […]
FCA finds MiFID II research unbundling rules working well for investors
The FCA has published multi-firm review findings indicating the Markets in Financial Instruments Directive’s (MiFID II) research unbundling rules have improved asset managers’ accountability over costs, saving millions for investors. […]
FCA data shows 4.29m complaints for first half of 2019
The FCA has published the complaints figures for regulated firms for the first half of 2019. The data showed an increase in complaints from 3.91m in the second half (H2) […]
Non-UCITS Retail Schemes — Illiquid Assets
The FCA has published Policy Statement PS19/24 in which it has confirmed new rules which apply to certain types of open-ended funds investing in inherently illiquid assets such as property. […]