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165 results for: financial services
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“History may not repeat itself. But it rhymes”; misconduct in wholesale markets
By Dan Lavender Laura Bridgewater
We are delighted to have assisted the Financial Markets Standards Board with its second edition of the Behaviour-pattern Conduct Analysis...
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Know your fraud: specific fraud risk rather than general red flags are needed to invoke the Quincecare duty
By Lorna Emson Nikolas Ireland James Reid
The Quincecare duty has made the news once again. We recently commented on RBS v JP SPC 4 & another [2022] UKPC 18 and Philipp v Barclays...
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The limit of Quincecare: Privy Council holds that banks do not owe a tortious duty of care to non-customers
By Lorna Emson Nikolas Ireland James Reid
In its recent judgment in RBS v JP SPC 4 & another [2022] UKPC 18 the Privy Council has provided an important insight into the scope of...
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An EU retail passport for alternative funds?
By Gavin Haran Lora Froud
The EU’s review of the Alternative Investment Funds Management Directive, or AIFMD 2, is underway. The EU’s institutions are currently...
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FCA implements new requirements for board and executive diversity reporting
By Dominic Sedghi Dan Lavender Helen Harvey
Macfarlanes' Corporate Law Update reported on the Financial Conduct Authority (FCA)’s recently-published policy statement on diversity...
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UK Prospectus Regime Reform Review Outcome: is this the path to a complete rethink?
By Richard Fletcher Clare Golding
The UK Prospectus Regime Review Outcome (PRRO) published by HM Treasury at the beginning of March 2022 gives us further insight into the...
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Overseas Funds Regime: "live" but not yet kicking
By Lora Froud Gavin Haran
The Government has made and published Regulations that brought the Overseas Funds Regime (OFR) into effect from 23 February 2022. This is...
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Derivatives – UK CCP equivalence extended to 2025
By Edward Karsten William Sykes
Following a statement by Mairead McGuinness, European commissioner for financial services, towards the end of last year, the European...
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ESMA’s briefing on tied agents: UK managers in the firing line?
By Gavin Haran
ESMA’s supervisory briefing on supervisory expectations in relation to firms using tied agents in the MiFID II framework will be...
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Clearing – potential one-year extension to pension schemes exemption, but further extensions unlikely
By Edward Karsten William Sykes
The European Securities and Markets Authority (ESMA) has sent a letter to the European Commission (EC) recommending that the temporary...
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FCA’s views on operational resilience: are you ready for 31 March 2022 deadline?
By Joy Davey
Banks, insurers and enhanced-scope SMCR firms will have to comply with the operational resiliency requirements that come into force on 31...
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Asset valuation: EU managers under scrutiny
By Sandeesh Shah
ESMA has announced that it is launching its third common supervisory action (CSA) on the EU asset management sector, this time focusing...
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FCA tackles the "Wild West" of high-risk investments
By Gavin Haran
The FCA has published a consultation that proposes to reform its financial promotion rules. The changes relate to "high-risk...
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Marketing cryptoassets: HMT and the FCA weigh in
By Gavin Haran
On 18 January 2022, HM Treasury (HMT) published its response to its July 2020 consultation paper on cryptoasset promotions. This was...
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UK Securitisation Regulation – FCA approves first two securitisation repositories
By Edward Karsten Richard Fletcher
With effect from 17 January 2022, the Financial Conduct Authority (FCA) has decided to register both European DataWarehouse Ltd and...
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Executive power: the FCA implements decision-making reform
By Lorna Emson James Reid
The FCA recently published a policy statement outlining changes to its decision-making processes, in order to make “faster and more...
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