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News, Articles & Events: Financial Services Regulation

As a result of high volumes of customer complaints and claims relating to motor finance commissions, the FCA has launched a section 166 skilled person report reviewing historical use of ‘discretionary commission arrangements’ (DCAs) between lenders and credit brokers to determine whether customers could be due redress. Due to this, the FCA has brought in […]

31 July 2024 seemed a long way off in December 2023 – plenty of time. However, although the difference between 31 December 2023 and 1 January 2024 is only one day, suddenly all of the 2024 deadlines now look much closer. Soon, we will be in the thick of the end of the financial year, […]

The Financial Conduct Authority (FCA) has introduced a new regime for sustainability disclosure requirements (SDR) and investment labels. The regime aims to build transparency and trust in the market for sustainable investment products, and to help consumers make informed choices. The regime will apply to UK asset managers of certain investment products, such as authorised […]

Summary Implementation Date: 31 January 2024 Treasury Consultation Response: Financial promotion exemptions for high net worth individuals and sophisticated investors – Consultation response – November 2023 Who is affected? Authorised and unauthorised persons communicating financial promotions who rely on the high net worth individual or self-certified sophisticated investor exemptions. Investors who currently meet the requirements […]

In November the FCA published Guidance Consultation GC23/3 – “Guidance on the Anti-Greenwashing rule”. The new rule and associated proposed guidance will both come into force on 31 May 2024. What is the new anti-greenwashing rule? The new rule will be contained at ESG 4.3.1R of the FCA’s Handbook. The new rule requires that a […]

The Upper Tribunal has delivered a stinging assessment of the Financial Conduct Authority’s conduct and approach in an important decision relating to three former employees of Julius Baer International Limited (JBI). Background The case involved Thomas Seiler, Louise Whitestone and Gustavo Raitzin, who had roles at JBI’s London branch between 2011 and 2015. JBI, a […]

In line with its three year strategy to set higher standards across the industry, the FCA is introducing a new gateway which will lead to stricter rules for approving and policing financial promotions. This comes just a year after the FCA introduced stricter rules on the advertisement of high-risk investments. The issuing of financial promotions […]

An increasingly common structure used in Private Funds (alongside other sectors) is the regulatory hosting model. However, the model has recently come under scrutiny from regulators, and decisions in the courts should also cause regulatory hosts and those using the models to be careful to ensure the structures and processes in place protect the fund […]

Never a stranger to volatility, cryptocurrency has seen a number of ups and downs over the years since its inception back in 2009. The last year, however, has been a particularly eventful one. May 2023 marked six months following the collapse of the crypto exchange FTX. This proved to be a watershed moment for the […]

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