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Tag Archives: Financial Conduct Authority

Consumer Duty Update: FCA Issues Dear CEO/Director Letters Setting Priorities for Sectors

The letters ask senior management to prioritise implementing the Duty. By David Berman, Nicola Higgs, Rob Moulton, Becky Critchley, Ella McGinn, Jaime O’Connell, and Dianne Bell On 3 February 2023, the FCA published Dear CEO/Director letters underscoring the immediate (i.e., during the implementation period up until 31 July 2023) and longer-term expectations, priorities, and demands … Continue Reading

FCA Publishes “Areas for Improvement” for Firms on Consumer Duty Implementation

The FCA has reviewed firms’ progress to embed the Duty into their businesses, providing good and poor practice examples for firms to improve and direct their implementation work. By Nicola Higgs, Becky Critchley, Jaime O’Connell, and Dianne Bell The Consumer Duty (Duty) rules (as set out under the FCA’s Policy Paper (PS22/9) and guidance document … Continue Reading

PE on Red Alert for Greenwashing in Light of UK Developments

PE firms face growing regulatory and litigation risks from greenwashing claims as they navigate a fragmented anti-greenwashing landscape. By Tom D. Evans, Nell Perks, Anne Mainwaring, David J. Walker, and Catherine Campbell Amid concerns of exaggerated or misleading sustainability claims, the UK Financial Conduct Authority’s (FCA) recent proposal for new labelling and disclosure rules to … Continue Reading

Unexplained Wealth Orders Subject to Rigorous Judicial Scrutiny

Recent judgments help to clarify purpose and threshold of unexplained wealth orders. By Stuart Alford QC, Oliver Browne, and Clare Nida The National Crime Agency (NCA) has had a mixed start to 2020, with appeals heard on unexplained wealth orders (UWOs) testing the new investigative tools provided under the Criminal Finances Act 2017 (CFA). What … Continue Reading

New Listing Rules for Sovereign Controlled Companies … In 30 Seconds

The Financial Conduct Authority has published final rules creating a new category within its premium listing regime for companies controlled by a shareholder that is a sovereign country. By James Inness, Claire A. Keast-Butler, and Koushik K. Prasad From 1 July, 2018, an issuer with a sovereign state as its controlling shareholder will be eligible … Continue Reading

Global Ambitions for the FCA’s Sandbox

The FCA seeks industry feedback to capitalise on global regulatory sandbox trend. By Stuart Davis and Charlotte Collins The regulatory sandbox was pioneered by the Financial Conduct Authority (FCA) back in November 2015 — a “safe space” in which businesses can test innovative products, services, business models, and delivery mechanisms without immediately incurring all the … Continue Reading

Proposed FCA Rules Extend Warmer Welcome to Sovereign-Controlled Companies

By James Inness and Sean Meehan On 13 July 2017, the Financial Conduct Authority (FCA) proposed a relaxation of certain aspects of the premium listing segment for sovereign-controlled companies. The proposed new rules will create a new premium listing category pursuant to which: Related party rules will be modified so that the sovereign controlling shareholder will … Continue Reading

FCA Regulatory Sandbox Update: Successes in Round One, Application Window for Round Three Open

By Stuart Davis, Andrew Moyle, Fiona Maclean, Christian McDermott and Charlotte Collins The Financial Conduct Authority (FCA) has provided an update on its regulatory sandbox initiative. The sandbox is part of Project Innovate, and allows businesses (whether already authorised or not) to test new offerings in the market under close supervision and without many of the … Continue Reading
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