July 12, 2018
Dear Clients and Friends,
July 12, 2018
On 12 February 2018, the FCA published a report on Algorithmic Trading Compliance in Wholesale Markets.
July 3, 2018
MiFID II has reached its six-month milestone. After gruelling and expensive implementation projects, many firms may have hoped to draw a line under the regulation roll-out. But the effects of the European Union’s directive are still being felt by financial firms and recent statements from the regulator suggest that scrutiny levels are set to rise.
June 20, 2018
The FCA revealed at its recent Asset Management Conference that it will be undertaking a ‘diagnostic’ review of research and inducements at a range of organisations. It is expected that the FCA will be pragmatic in their assessment, taking a risk-based approach to analysing measures adopted to date. However, firms should be prepared to justify their approach should they be in scope of any such reviews.
October 20, 2017
Global investment managers, particularly those with subsidiaries based in the European Union (“EU”), have been challenged by the recent increase in regulatory reporting mandates from European regulators, particularly the Markets in Financial Instruments Directive (“MiFID II”).
October 2, 2017
The MiFID II deadline is fast approaching and many firms are in the midst of implementing the proper operational and regulatory changes necessary to comply with the new European directive.
August 14, 2017
Last week, the Alternative Investment Management Association (“AIMA”) released the text of a letter it received from Stephen Hanks, Head of Market Policy at the FCA. The letter was dated July 19, 2017, but sent a week ago.
August 14, 2017
Communications record keeping obligations which include phone taping, are likely to prove particularly challenging when it comes to the cost of compliance and complexity of systems requirements.