Tag Archives: FCA

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

Posted on November 5, 2020 by Alice Heathfield

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

Posted on September 15, 2020 by Christopher Wilsher

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?

Posted on March 10, 2020 by Christopher Wilsher

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?

Posted on February 13, 2020 by Christopher Wilsher

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

Posted on November 27, 2019 by Christopher Wilsher

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

Posted on July 30, 2019 by Christopher Wilsher

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?

Posted on July 4, 2019 by Christopher Wilsher

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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