Megan Butler, the FCA’s Director of Supervision – Investment, Wholesale and Specialists, delivered a speech outlining the FCA’s key areas of concern and subsequent activity in the advice and investment management market. https://www.fca.org.uk/news/speeches/assessing-value-financial-advice Highlights: Financial advice and investment management is of unprecedented importance to society, now more than ever. The FCA is particularly active in […]
Read MoreHow MiFID II impacts LEIs and entities anywhere in the world including jersey
From 3 January 2018 firms subject to MiFID II transaction reporting obligations will not be able to execute a trade on behalf of a client who is eligible for a Legal Entity Identifier (LEI) and does not have one. It is worth noting although 3 Jan 2108 seems far away it is not and therefore such […]
Read MoreMiFID 2 – ESMA final report on product governance requirements guidelines
The European Securities and Markets Authority (ESMA) has published its final report on guidelines on product governance requirements under the amended Markets in Financial Instruments Directive (MiFID 2). The guidelines will be translated into the official languages of the EU, which will trigger a two-month period during which competent national authorities must notify ESMA […]
Read MoreMiFID and Mobile Call Recording – the turbulent relationship
To set the scene on the Brexit stage, on the 24th June, the FCA issued a “Statement on European Union referendum result” stating that: “Firms must continue to abide by their obligations under UK law, including those derived from EU law and continue with implementation plans for legislation that is still to come into effect”. […]
Read MoreEffectively Managing Conflicts of Interest and inducements
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 […]
Read MoreMiFID II 12-month delay confirmed – Investment firms now have until 3 January 2018!
What has happened? The European Commission has at last confirmed that the implementation date for the package of measures known as MiFID II has been pushed back 12-months. Investment firms now have until 3 January 2018 to implement the changes to their processes, procedures and documents. The main reason for the delay is the recognition […]
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