Yesterday, the FCA dropped yet another discussion paper (DP 23/2, the DP); this one announcing that the FCA has turned its mind to further changes that might be needed to the regime governing the UK's 2,600 asset managers. The context here is the forthcoming change in the UK's regulatory framework and the FCA's expanded remit that will flow from this and the eventual shift of firm-facing requirements from statute to regulatory rulebooks. Read more

On 12 December 2022, the FCA published the findings from its qualitative research in respect of the diversity and inclusion ("D&I") strategies and practices that regulated firms currently have in place to improve D&I within their workforce ("FCA Review"). Read more

The FCA has set out its plans to operate a new gateway for the approval of financial promotions in its consultation published on 6 December 2022 (CP22/27). Read more

In a "Dear CEO" letter sent in early August 2022, the FCA outlined the robust approach it will take to the supervision of firms in its alternative asset management portfolio – namely FCA authorised hedge funds, private equity firms and firms that manage and advise alternative assets directly. Relevant firms can expect the FCA to focus on excessive investment risks to retail and elective professional investors, conflicts of interest, inadequate mitigation against ongoing market disruption, poor market abuse controls, and culture, as well as ESG disclosures. Read more

The Financial Conduct Authority (FCA) has this month published its policy statement (PS22/11) confirming its final rules reshaping the Appointed Representative (AR) regime to make authorised financial firms acting as principal more responsible for their ARs. The FCA had previously set out its proposals and invited feedback in a consultation paper (CP21/34) in December 2021. In seeking to address harms and protect consumers, these proposals focused on: (i) collecting additional information on ARs and strengthening reporting requirements for principals; and (ii) clarifying and strengthening the responsibilities and expectations of principals. Read more

In this blog post, we round-up key forthcoming developments in the UK and at EU and International levels in financial services regulation which are expected to happen in July and August 2022. Read more

In this blog post, we round-up key forthcoming developments in the UK and at EU and International levels in financial services regulation which are expected to happen in February and March 2022. Read more

The FCA has now published its final rules on remuneration-related disclosures under the Investment Firms Prudential Regime (“MIFIDPRU”) that will apply to UK investment firms for performance years commencing on or after 1 January 2022. Read more