FCA, PRA and Bank of England set out plan to improve diversity and inclusion in regulated firms
On 7 July 2021, the FCA, the PRA and the Bank of England published a discussion paper on regulatory plans to improve diversity and inclusion in financial services. In the discussion […]
FCA Implementation of Investment Firms Prudential Regime
On 29 June 2021, the FCA published Policy Statement PS21/6 which is the first of the Policy Statements issued to introduce the UK Investment Firms Prudential Regime (IFPR). IFPR is […]
FCA fines Crosfill & Archer Claims Limited £110,000
On 28 June 2021, the FCA announced that it had fined claims management company, Crosfill & Archer Claims Limited, £110,000. This fine was for making unsolicited telemarketing calls to people […]
FCA Review of host Authorised Fund Management firms
On 30 June 2021, the FCA published its review of host Authorised Fund Management firms. The FCA wanted to test the viability of the host Authorised Fund Manager (AFM) business […]
FCA research reveals increase in cryptoasset ownership
On 17 June 2021, the FCA published research estimating that 2.3 million adults now hold cryptoassets (up from 1.9 million last year). 78% of adults have now heard of cryptoassets, […]
FCA Temporary Registration Regime extended for cryptoasset businesses
On 3 June 2021, the FCA announced it would extend the end date of the Temporary Registrations Regime (TRR) for existing cryptoasset businesses from 9 July 2021 to 31 March […]
FCA confirms measures to raise standards in the funeral plans market and consults on further proposals
On 5 July 2021, the FCA confirmed the rules funeral plan providers will have to follow when they come under regulation from 29 July 2022. The new rules will introduce […]
FCA review finds fund managers falling short on assessing the value of their funds
On 6 July 2021, the FCA published a review of 18 fund managers between July 2020 and May 2021, covering different business models and sizes, and found most had not […]
Financial Action Task Force Recommendations on Opportunities and Challenges of New Technologies for Anti-Money Laundering/Countering the Financing of Terrorism
In July 2021, the Financial Action Task Force (FATF) issued recommendations on Opportunities and Challenges of New Technologies for Anti-Money Laundering/Countering the Financing of Terrorism. New technologies can improve the […]
Russian Central Bank Cracks down on unauthorised foreign CFD firms
The Bank of Russia published a list, 1st June 2021, of over 1,800 organisations and internet projects, where they have “identified signs of a financial pyramid, an illegal creditor or […]