Tag Archives: FCA

LIBOR TRANSITION UPDATE: q1 2021

FCA announcement on future cessation and loss of representativeness of the LIBOR benchmarks In March this year, the FCA confirmed that all 35 LIBOR settings will either cease to be published by the ICE Benchmark Administration and/or will no longer …

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FCA fines broking firm for misleading conduct

The FCA has imposed a fine on broking firm TFS-ICAP for misleading customers in the FX derivatives market. The regulator found that between 2008 and 2015, brokers at TFS-ICAP openly carried out a deceptive practice known as “printing” trades. The …

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Digital assets, analogue regulation?

In this webinar our panel discusses the various regulatory issues and challenges faced by those operating in the digital assets and blockchain space, including: The approach of the UK regulators, including the implications of Brexit The FCA ban on crypto-derivatives …

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FCA bans the sale of crypto-derivatives to retail consumers – what do firms need to know?

On 6 October 2020 the FCA published rules which banned the sale of derivatives and exchange traded notes that include certain types of cryptoassets for retail customers. The FCA considers these products to be ill-suited for retail consumers given the …

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Insurance test case rules some insurers should have paid out for losses caused by Coronavirus lockdown

Small businesses have been thrown a lifeline as a result of today’s insurance test case judgment, which ruled that some insurers should have paid out for losses caused by lockdown, since disease clauses in business interruption policies meant they were …

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A firm receives a section 170 notice: what next?

Regulated firms and their compliance teams are well aware of the risks and potential outcomes should the Financial Conduct Authority (FCA) open a formal investigation. Compliance teams should ensure, in advance of the FCA knocking on the firm’s door, that …

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A new era for open-ended funds with illiquid assets?

The closing of redemption gates in several open-ended property funds after the Brexit referendum, followed by the 2019 Woodford saga, has shone a spotlight on the risk to investors of funds holding illiquid assets in stressed markets. The Financial Conduct …

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SMCR implementation deadline imminent

The expansion of the SMCR to cover all FCA regulated firms (from 9 December 2019) will change the way in which the directors and senior managers in those firms will approach risk. The SMCR has already closed the gaps between …

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FCA publishes final rules on the SMCR

On Friday 26 July the FCA published its final rules on the Senior Managers and Certification Regime; the complete regulations on the extension of the SMCR to FCA solo-regulated firms. The final rules, published on the FCA website, reflect the …

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Protecting crypto consumers from themselves?

The Financial Conduct Authority (FCA) has proposed a ban on financial instruments linked to cryptocurrencies, warning that such products could cause huge losses for consumers unlikely to understand their risks or value. The FCA said products such as derivatives and …

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