TCF in the wholesale sector [ June 2008 ] Summary Does TCF apply to firms operating in the wholesale sector? Why does it matter? What should wholesale firms be doing in relation to TCF? FSA publications Where can I find more information on TCF? Appendix 1 Appendix 2 Summary This briefing gives an outline of […]

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The Foundations Law provides that every foundation must have a council and one member of the council must be a “qualified person”. ‘Qualified person’ is defined in the Foundations Law as a person registered under the Financial Services (Jersey) Law 1998 (the “Financial Services Law”) to carry on trust company business that permits a person […]

The Financial Services Authority (FSA) has been carrying out an investigation into Johnny Cameron, former Executive Director of The Royal Bank of Scotland Group plc (RBS) and former Chairman of Global Markets. Following this investigation Cameron has agreed to settle with the FSA on the basis that he has undertaken to the FSA that he […]

Director disqualification: what you need to know – “News International and its parent News Corporation exhibited wilful blindness, for which the companies’ directors …should ultimately take responsibility”; “We conclude, therefore, that Rupert Murdoch is not a fit person to exercise the stewardship of a major international company,” so concluded the cross party bench committee of […]

The FSA consults on changes to the approved persons’ regime to improve corporate governance. On 28 January 2010, the FSA published a consultation paper entitled: “Effective corporate governance (Significant influence controlled functions and the Walker review)” (CP10/3). The FSA’s proposals reflect its ongoing work on governance in regulated firms and address a number of the […]

Islamic finance and ensuring the agreement is upheld in the event of a dispute – what should investors or other parties to an agreement with an Islamic finance institution do to ensure that the agreement is upheld in the event of a dispute? They should: ensure they obtain and fully review the constitutional documents of […]

On 19 May 2010, the FSA published a press release announcing that, with the assistance of the City of London Police, it has carried out searches at an address in East London and that a man aged 39 has been arrested in relation to allegations of insider dealing. The FSA has not provided any further […]