On 12 July 2016, the FCA published its annual report and accounts for 2015/16. The report outlines some of the key pieces of work undertaken by the FCA in 2015/16. It also shows how the FCA has managed the risks to achieving its operational objectives that it identified in its 2015/16 business plan The report […]

The content of the MiFID II Delegated Acts has left the industry in no doubt that the days are numbered for inducements. The rules surrounding inducements within the Delegated Acts are tight and make it clear that they can only be accepted if there is a clear, demonstrable effect on the service the customer receives […]

The FCA has published guidance following a number of investment funds announcement of temporary suspensions of trading in their property portfolios and feeder funds. The guidance reminds fund managers of their obligations to investors, and sets out the FCA’s expectations in relation to dealing with suspensions. The FCA reminds managers that: if they dispose of […]

First published: 23/02/2016 Last updated: 07/06/2016 The FCA have changed the RMAR (SUP 16) to incorporate additional data needed to support supervision of adviser and consultancy charging rules, which came into effect on 31 December 2012. The data will allow us to monitor and challenge the way that firms are implementing our new rules. The changes are: […]

The FCA has charged five individuals with alleged investment fraud. The individuals appeared at Southwark Crown Court charged with conspiracy to defraud with offences under the Financial Services and Markets Act 2000 and the Fraud Act 2006. Two of the individuals are charged in addition with perverting the course of justice contrary to the common […]

On 13 June 2016, the FCA published a press release announcing that a former equities trader at Schroders Investment Management Ltd has been sentenced to two years’ imprisonment, having pleaded guilty to nine counts of insider dealing. The individual admitted dealing on the basis of inside information he obtained during the course of his employment […]

FCA consults on UCITS V Level 2 Regulation and STFR – The FCA has published a consultation paper (CP 16/14) setting out its proposals to amend rules and guidance in the Client Assets sourcebook (CASS) and the Collective Investment Schemes sourcebook (COLL), following the adoption of the Undertakings for Collective Investment in Transferable Securities V […]

The FCA has banned and publicly censured former Keydata compliance officer Peter Johnson for failing to act with integrity and misleading the FCA. Johnson had lodged an appeal with the Upper Tribunal against the regulatory action, but has since withdrawn his appeal. Upper Tribunal cases will still be held in relation to former Keydata chief […]