FCA publishes final report outlining its ICARA observations

On 27th November 2023 the UK Financial Conduct Authority (“FCA”) published its final report outlining how investment firms are engaging with the Internal Capital Adequacy and Risk Assessment (“ICARA”) process introduced by MiFIDPRU on 1st January 2022. The report builds upon the initial feedback provided by the FCA in February. The final report is essential […]

Don’t get mauled by a money mule!

C&G publishes free educational presentation: Don’t get mauled by a money mule! Money mules. What are they? Why do they pose a threat to financial services firms and their customers? What steps does the Financial Conduct Authority (“FCA”) expect firms to take to counter this threat? To help you gain a quick answers to these […]

C&G teams up with CTP to offer training courses on the AR regime

On 28th September 2023 the Financial Conduct Authority (“FCA”) published its latest insights into the workings of the UK’s appointed representative regime ( the “AR regime”). Referring to data harvested from supervisory efforts conducted in 2021 and 2022, the FCA provided feedback on good and poor practice that it had observed and restated its enhanced […]

Brokerage goes into administration after FCA imposes restrictions

On 15th September 2023 the Financial Conduct Authority (“FCA”) announced that it had imposed restrictions on wholesale brokerage IBP Markets Limited (“IBP”). IBP was active in the wholesale space, offering Model A and Model B services in fixed income and equity products. The purpose of this short article is to summarise the key findings referred […]

One month until the FCA’s financial promotions gateway opens

On 6th November 2023 the application period for authorised persons which wish to continue approving financial promotions on behalf of unauthorised third parties commences. An authorised person that wishes to engage in this activity will be known as a “Section 21 approver”.  The purpose of this article is to summarise the key features of the […]

Promoting Cryptoassets: are you ready for D-day?

On the 8th October 2023 the UK’s financial promotion regime will officially be extended to cover qualifying cryptoassets. Per paragraph 26F of Schedule 1 to the revised Financial Promotion Order (“FPO”), a qualifying cryptoasset is defined as: “any cryptographically secured digital representation of value or contractual rights that is transferable and fungible, but does not […]

Dealers in principal under the regulatory spotlight

On the 4th August 2023 the UK Financial Conduct Authority (“FCA”) published its latest “Dear CEO” letter, this time setting out its supervisory priorities vis-a-vis Principal Trading Firms (“PTTs”, also known as “Dealers in principal”). As the name of the category suggests, PTTs are firms that generate much of their revenue from dealing as principal, […]

FCA publishes important MiFIR transaction reporting updates

“…issues persist, and some firms are not paying sufficient attention to our warnings on the importance of reporting transactions to us in a complete, accurate and timely manner.” In the week commencing 24th July 2023 the UK Financial Conduct Authority (“FCA”) published two important updates concerning Markets in Financial Instrument Regulation (“MiFIR”) transaction reporting in […]

Shorts: key regulatory developments from Q2, 2023

In this article we provide a round up of key Financial Conduct Authority (“FCA”) related regulatory developments that are particularly relevant to investment firms.   FCA publishes new guidance on the regulatory perimeter for trading venues (5th July 2023) On 5th July the FCA released Policy Statement PS23/11 to issue new guidance on the regulatory perimeter […]

The Role of Compliance Consultants in London: Ensuring Regulatory Adherence for Business Success

Compliance Consultants London

In today’s rapidly evolving business landscape, regulatory compliance has emerged as a crucial factor for businesses in London. With the Financial Conduct Authority (FCA) serving as the regulatory body overseeing financial services, companies must navigate a complex network of rules and regulations to uphold legal and ethical operations. This is where compliance consultants in London […]