FCA Deploys Temporary Intervention Powers to Ban Mass Marketing of Mini-Bonds

On 26 November 2019, the FCA announced that it would use its temporary intervention powers to restrict the mass marketing of speculative mini-bonds to retail customers. Although the intervention will allow the promotion of unlisted speculative mini-bonds to sophisticated and/or high net worth individuals, marketing materials which are produced by or approved by an authorised firm will also have to include a specific risk warning and disclose costs or payments made to third parties that are deducted from investors' money. Read more

Temporary Equivalence Decision for UK CCPs to be renewed

European Commission Vice President Valdis Dombrovskis announced in a speech at the Guildhall in London last week that, 'as the risk to financial stability has not yet been fully removed, because industry has not so far fully prepared', he intends to renew the temporary equivalence decision for UK central counterparties (CCPs) beyond the current expiry date of 30 March 2020. Read more

Cryptoassets: Personal account dealing policies and procedures

First published on Thomson Reuters Regulatory Intelligence on 15 July 2019. This third article of a series on cryptoassets focuses on personal account dealing (PAD) policies and procedures. This topic is important not only for firms themselves but also for individual staff who have entered into or are considering entering into cryptoasset transactions on their … Read more