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FCA publishes its Business Plan including risk outlook for 2015/2016

June 25, 2015 - Regulatory Updates

The FCA has published its Business plan for 2015/2016 and including the risk outlook, which is a new addition. This is a key document that all regulated firms should become acquainted with as it addresses the main areas of regulatory focus and key risks identified for the forthcoming year.

AIFMD: “Reverse solicitation”

June 25, 2015 - Regulatory Updates

The reliance upon reverse solicitation has been a grey area for a while now but it would also seem that some US institutional investors are pushing back on reverse solicitation agreements. Many US Managers are becoming increasingly interested in AIFMD but there are concerns regarding different approaches taken by European countries on Marketing and Reporting, especially with Annex IV disclosures (e.g. Remuneration disclosures) varying from country to country. As reported in our previous newsletter, US Managers will also be awaiting to see if the passport will be extended to non-EU AIFs or non-EU based AIFMs.

‘RegTech’: Regulation of the Fintech sector

June 25, 2015 - Regulatory Updates

The UK is fast becoming one of the main world’s centres for the FinTech revolution. Recognising the importance of the sector for the country, the UK Government, along with the Financial Regulators, FCA and PRA, are working with FinTech firms in order to bring increased competition and financial innovation to the regulated financial services markets. The FCA has launched ‘Project Innovate’ with the sole aim of working with firms in this new space and to ensure that the UK remains at the forefront of this exciting new sector.

Carney’s speech on market abuse rules extension marks a new era for the fund management sector.

June 15, 2015 - Regulatory Updates

Carney’s speech will have a significant impact on financial companies and marks a new era of even higher level of regulatory responsibilities for all market players

FCA regulation on cyber security and asset management firms

June 1, 2015 - Regulatory Updates

In 2014 cyber security attacks on government establishments and private businesses made headlines. Given the kind of technology that hackers have access to, it is highly unlikely that the frequency of these attacks will see a downward trend.