The Financial Conduct Authority (FCA) has today launched its new asset management authorisation hub. The hub has been launched to support new firms by assisting when they apply for authorisation, throughout the authorisation process and afterwards. The authorisation hub will not lower entry standards to the market and entrants will need to meet the same…
Read more
Andrew Bailey, Chief Executive of the FCA gave a speech today at the Official Monetary and Financial Institutions Forum. Below is the speech as drafted and may differ from the delivered version: Highlights We can learn lessons by putting the issues around Brexit into a historical context. Common regulatory standards are a necessary condition for…
Read more
UK financial regulator The FCA has added its voice to other watchdogs around the world, issuing a formal consumer warning about the risks of Initial Coin Offerings, or ICOs. A similar warning was made recently by Canada regulator CSA. What are ICOs? The term ICO refers to a digital way of raising funds from the…
Read more
On 8 August 2017, the Upper Tribunal upheld the Financial Conduct Authority’s (FCA) decision to ban Charles Palmer, former CEO of Financial Limited and Investments Limited (“the Firms”), from performing FCA significant influence functions. The Tribunal also upheld the FCA’s decision to impose a financial penalty of £86,691 on Mr Palmer. Mr Palmer was the…
Read more
The Financial Conduct Authority (FCA) has today announced the appointment of Maggie Craig as the Head of Department, Scotland. Head of Department Scotland is a new role created to take forward the FCA’s presence in Scotland. Craig will be focused on developing this approach and contributing to Scottish aspects of FCA policies. Maggie Craig joined…
Read more
The Financial Conduct Authority (FCA) has today published the Terms of Reference for the Investment Platforms Market Study, which sets out the scope and topics that will be covered. Investment platforms are increasingly used by consumers and financial advisers to access retail investment products and to manage investments. The platform market has steadily grown over…
Read more
The Financial Conduct Authority (FCA) has today published the final findings of its asset management market study and announced the package of remedies it will take forward to address the concerns identified in its interim report into the sector. Andrew Bailey, Chief Executive at the FCA said: The asset management sector is important to the…
Read more
John Griffith-Jones, Chairman of UK financial regulator the Financial Conduct Authority (FCA) as well as of the spun-out payment systems regulator the Payment Systems Regulator (PSR), has announced that he will leave both organisations at the end of his term of office, on March 31, 2018. No replacement for Mr. Griffith-Jones has yet been named. HM Treasury…
Read more
The Financial Conduct Authority (FCA) today provided an update on its regulatory sandbox and unveiled the list of firms that were successful in their applications to begin testing in the second cohort of the sandbox. The regulatory sandbox allows businesses to test innovative products, services, business models and delivery mechanisms in a live environment while…
Read more
The Financial Conduct Authority (FCA) also drew the industry’s attention to the announcement by the Spanish Comisión Nacional del Mercado de Valores (CNMV) today which restricts transactions under Article 20 (2) (a) and (b) of Regulation (EU) No 236/2012 of the European Parliament and of the Council of 14 March 2012. This applies to transactions…
Read more