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Authorisation, approval and supervision

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Latest Financial Services News

The Upper Tribunal dismisses application to prohibit publication of FCA’s Decision Notice for non-financial misconduct [Frensham v FCA]

The Upper Tribunal dismisses application to prohibit publication of FCA’s Decision Notice for non-financial misconduct [Frensham v FCA]

The following Financial Services news provides comprehensive and up to date legal information on The Upper Tribunal dismisses application to prohibit publication of FCA’s Decision Notice for non-financial misconduct [Frensham v FCA]

Contractual interpretation by administrators and common sense (Avery-Gee and others v Sibley and others)

Contractual interpretation by administrators and common sense (Avery-Gee and others v Sibley and others)

The following Financial Services news provides comprehensive and up to date legal information on Contractual interpretation by administrators and common sense (Avery-Gee and others v Sibley and others)

Financial Services weekly highlights—8 April 2021

Financial Services weekly highlights—8 April 2021

The following Financial Services news provides comprehensive and up to date legal information on Financial Services weekly highlights—8 April 2021

Ringing the changes with the CPS’s Economic Crime Strategy 2025

Ringing the changes with the CPS’s Economic Crime Strategy 2025

The following Corporate Crime news provides comprehensive and up to date legal information on Ringing the changes with the CPS’s Economic Crime Strategy 2025

Featured Financial Services content

The Money Laundering Reporting Officer (MLRO)—duties

The Money Laundering Reporting Officer (MLRO)—duties

The roles of nominated officer and money laundering reporting officerA nominated officer is an individual who is nominated by a firm to receive...

What is electronic money?

What is electronic money?

BREXIT: UK is leaving EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. For further...

The Single Rulebook

The Single Rulebook

Background to the Single RulebookHistorically, the European Commission (Commission) favours using Directives (rather than Regulations) to set out its...

Non-UCITS retail schemes (NURS)

Non-UCITS retail schemes (NURS)

BREXIT: As of exit day (31 January 2020), the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...

Practice notes

Regulatory capital—purpose, quantity and quality

Brexit; As of exit day (31 January 2020), the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...
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Produced in partnership with Morrison & Foerster LLP 12th Jan
Practice notes

Public censure by the FCA

Disciplinary powers of the FCAThe disciplinary powers of the Financial Conduct Authority (FCA) are found in Part XIV of the Financial Services and...
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9th Nov
Practice notes

Application of the FCA's COBS 4 rules

Chapter 4 of the Financial Conduct Authority's (FCA) Conduct of Business sourcebook (COBS 4) contains the conduct of business requirements for...
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9th Nov
Practice notes

Basel Accord

The Basel Committee on Banking Supervision (BCBS), consisting of the central banks of governors of the so-called G10 countries (Belgium, Canada,...
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Produced in partnership with Morrison & Foerster LLP 12th Jan
Practice notes

Financial Conduct Authority—objectives and principles

The role of the FCAThe Financial Conduct Authority (FCA) forms part of the regulatory structure for financial services firms. The FCA has a...
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9th Nov
Practice notes

Financial Conduct Authority—Principles for Businesses (PRIN)

This Practice Note explains the Principles for Businesses (PRIN) set down by the Financial Conduct Authority (FCA). The Principles form part of the...
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9th Nov
Practice notes

Fair and Effective Markets Review (FEMR)—one minute guide

On 10 June 2015, the Fair and Effective Markets Review (FEMR) published its final report. Running to 106 pages, the report covers a wide range of...
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9th Nov
Practice notes

Recognised investment exchanges

Recognised investment exchangesA recognised investment exchange (RIE) is a UK recognised body under Part XVIII of the Financial Services and Markets...
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9th Nov
tag iconIn-house
Practice notes

MLD4—key provisions for financial services firms—one minute guide

Brexit: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...
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9th Nov
Practice notes

UCITS VI

UCITS VIUCITS VI describes the European Commission's Consultation on Undertakings for Collective Investment in Transferable Securities issued 26th...
Read More >
Produced in partnership with Andrew Henderson Partner, Eversheds Sutherland LLP 12th Jan
Practice notes

European Venture Capital Funds (EuVECA) Regulation

BREXIT: As of exit day (31 January 2020), the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...
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9th Nov
Practice notes

Entering into a consumer hire agreement as owner

BREXIT: The UK is leaving EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. To ensure...
Read More >
9th Nov
Practice notes

Authorised unit trust authorisation and winding-up

Authorisation of an authorised unit trust (AUT)What is an AUT?A unit trust is a type of collective investment scheme (CIS) in which the assets are...
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9th Nov
Practice notes

Second Wire Transfer Regulation (WTR2)—essentials

Brexit: As of exit day (31 January 2020), the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...
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9th Nov
Practice notes

The impact of Brexit on the MiFID II regime

This Practice Note provides information relating to the impact of Brexit on the recast Markets in Financial Instruments Directive (Directive...
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9th Nov
tag iconBrexit
Practice notes

MiFID I—Transaction reporting

This Practice Note provides an overview of the transaction reporting requirements that existed under the Markets in Financial Instruments Directive...
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9th Nov

Most recent Authorisation, approval and supervision content

Practice notes

The Senior Managers and Certification Regime: key issues for employment lawyers

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
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Produced in partnership with Gillian Maclellan, Partner of CMS 9th Apr
Practice notes

SM&CR—application to insurers

On 7 March 2016, the Senior Managers and Certification Regime (SM&CR) replaced the Approved Persons Regime (APR) for UK banks, building societies,...
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Produced in partnership with Carol-Ann Burton and Margarita Kato of Holman Fenwick Willan LLP and Dominic Pereira as research contributor 9th Apr
Practice notes

Control of insurance companies

Regulatory background to insuranceThe Financial Services and Markets Act 2000 (FSMA 2000) established a regulatory regime for the financial sector,...
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Produced in partnership with Alice Carse and Anna Greenkey of Devereux Chambers 9th Apr
Practice notes

Offences relating to change in control of UK authorised persons

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
Read More >
9th Apr
Practice notes

Obligations of controllers—acquiring and increasing control

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...
Read More >
8th Apr
Practice notes

FCA and PRA Fitness and Propriety requirements

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...
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Produced in partnership with John Drabble of Kemp Little LLP 8th Apr
Practice notes

FSMA 2000 controllers regime—key concepts

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...
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8th Apr
Practice notes

Tied agents

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...
Read More >
8th Apr
Practice notes

AIFMD—the marketing of AIFs, passporting and third country provisions

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...
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8th Apr
Practice notes

Authorised firms and close links

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...
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Produced in partnership with Orrick, Herrington & Sutcliffe 8th Apr
Practice notes

General reporting requirements

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...
Read More >
Produced in partnership with Orrick, Herrington & Sutcliffe 8th Apr
Practice notes

MIFID II & MIFIR—Transaction Reporting

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...
Read More >
8th Apr
Practice notes

Authorisation, registration, variation and cancellation of electronic money institutions

Introduction to the authorisation process for electronic money institutionsThe recast Directive 2007/64/EC, the Electronic Money Directive (2EMD)...
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8th Apr
Practice notes

MiFID I—Transaction reporting

This Practice Note provides an overview of the transaction reporting requirements that existed under the Markets in Financial Instruments Directive...
Read More >
8th Apr
Q&As

How will Prudential Regulation Authority (PRA) applications for ‘approved persons’ for non-senior management functions be treated following implementation of the Senior Managers and Certification Regime change post March 2016?

In March 2016, the Approved Persons Regime (APR) was replaced by the Senior Managers and Certification Regime (SM&CR) which places individual...
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8th Apr
Q&As

If a company, regulated by the Financial Conduct Authority has a number of global employees that work in the UK and are employed by the parent company, but the employees are to be transferred to a subsidiary company, are these employees subject to the Senior Managers and Certification Regime if they are employed by a UK regulated entity even though they are working for a non UK business and possibly/probably doing business outside the UK?

There is no territorial limitation on the Senior Managers Regime. This means that it will apply to anyone who performs a senior manager role, whether...
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8th Apr
Q&As

Will an FCA, solo regulated general insurance intermediary that will become subject (as a core firm) to the Senior Manager's Regime have to have a chief executive function or can the two executive directors simply take on SMF3 executive director functions?

As noted in Practice Note: SM&CR—essentials for banks and PRA-designated investment firms, the Financial Conduct Authority (FCA) is proposing to apply...
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8th Apr
Q&As

Is there an obligation under the Senior Managers and Certification Regime (SM&CR) for senior managers to undergo either standard or enhanced criminal records or DBS checks?

As set out in Practice Note: SM&CR—essentials for banks and PRA-designated investment firms, the Financial Conduct Authority (FCA) and Prudential...
Read More >
8th Apr
Q&As

Do you have any simplified guidance as to how the Financial Conduct Authority defines a ‘Material Risk Taker’ who could cause significant harm (classified as a Certified Person) under the Senior Managers Certification Regime?

The Financial Conduct Authority has specified nine significant-harm functions and expects firms to ensure that any staff performing one of the nine...
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8th Apr
Q&As

Is a financial adviser required to disclose a previous conviction when providing services to a client?

Presuming that the firm that the financial adviser works for is authorised by the Financial Conduct Authority (FCA) and that the adviser is also FCA...
Read More >
8th Apr

Popular documents

LEXISNEXIS

Law of the arbitration proceedings—curial law or lex arbitri (England and Wales)

This Practice Note considers the law governing the procedural law of arbitration proceedings (the curial law or lex arbitri) and how it is determined under the law of England and Wales (England and English are used as convenient shorthand).The procedural law of the arbitral proceedingsThe procedural

LEXISNEXIS

Term Loan B facilities

This Practice Note discusses Term Loan B (TLB) facilities which frequently appear as a tranche of senior facilities in syndicated loans in leveraged financings. TLBs are an established feature in the US market and increasingly used in the European lending market for institutional investors.This

LEXISNEXIS

Nuisance and the rule in Rylands v Fletcher—common law liability for pollution

Private nuisancePrivate nuisance is an unlawful interference with a person's use or enjoyment of land or some right over or in connection with it. Interference must be unreasonable, and may be caused, eg by water, smoke, smell, fumes, gas, noise, heat or vibrations. Where the defendant has not

LEXISNEXIS

What is a third party debt order (TPDO)?

What is a third party debt order (TPDO)?Third party debt orders were previously known as 'garnishee' orders and operated under the regime provided for in CCR Ord 30 and RSC Ord 49 (now revoked). Although the rules in CPR 72 are new, many of the principles with which they are concerned are well