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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...

Insurance conduct regulation—COBS and ICOBS

The Financial Conduct Authority Handbook (FCA Handbook) includes sourcebooks to regulate the conduct of business by a regulated firm relevant to...

The Single Rulebook

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

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...

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...

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...

9th Nov

Practice notes

Accepting deposits

This Practice Note looks at the regulated activity of accepting deposits (often referred to as deposit taking). Accepting deposits is a key hallmark...

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,...

Produced in partnership with Morrison & Foerster LLP 9th Nov

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...

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...

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...

9th Nov

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...

9th Nov

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...

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...

9th Nov

Practice notes

Debt sale and purchase agreements

The debt sale and purchase market in the UKThe debt sale and purchase market has for some time been very active throughout the UK. It is an important...

9th Nov

In-house

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...

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...

9th Nov

Brexit

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...

9th Nov

Practice notes

Impact of Brexit: Solvency II—quick guide

This Solvency II quick guide details current UK legislation and retained EU legislation in relation to prudential insurance requirements that will be...

9th Nov

Brexit

Practice notes

What is credit and what is a regulated consumer credit agreement?

Scope of this Practice NoteThere are several factors to consider when deciding whether or not a credit agreement is regulated under the regulatory...

9th Nov

Most recent Conduct requirements content

Practice notes

SMEs and the debt capital markets

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...

25th Nov

Practice notes

Advertising law and regulation

This Practice Note introduces the laws and regulations governing advertising in general and covers:•Regulatory regime overview•Non-broadcast...

23rd Nov

Practice notes

Comparative advertising

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 entered an...

Produced in partnership with Paul Jordan, Lucie Fortune and Catriona MacLeod of Bristows LLP 23rd Nov

Practice notes

Misleading statements etc in relation to benchmarks

Elements of the offence of misleading statements in relation to benchmarksThe Financial Services Act 2012 (FSA 2012) introduces an offence in respect...

18th Nov

Practice notes

Misleading statements under the Financial Services Act 2012

Offences relating to financial servicesThe Financial Services Act 2012 (FSA 2012) created three offences relating to market manipulation where...

Produced in partnership with Joanna Dimmock, Tom Hickey and Fred Kelly of White & Case LLP 18th Nov

Practice notes

Misleading impressions under the Financial Services Act 2012

Misleading impressions—elements of the offenceThe Financial Services Act 2012 (FSA 2012) creates an offence of misleading impressions where formerly...

18th Nov

Practice notes

Retail Distribution Review and the regulator

This Practice Note looks at the work of the Financial Conduct authority (FCA) and its predecessor the Financial Services Authority (FSA) in relation...

18th Nov

Practice notes

CASS 9 and information to clients

Background to, and application of, CASS 9Prior to 1 December 2014, most of the client information and reporting requirements in relation to client...

18th Nov

Practice notes

FCA client classification requirements

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...

18th Nov

Practice notes

MiFID II—commodities exemptions

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 guidance,...

Produced in partnership with Puesan Lam and Tony Katz of DLA Piper LLP 18th Nov

Practice notes

Retail product distribution

BackgroundThe regulatory requirements applicable to the distribution of financial products by financial services providers and intermediaries in the...

Produced in partnership with Nicholas Ralph of Dentons UKMEA LLP 18th Nov

Practice notes

Retail Distribution Review

This Practice Note looks at the Retail Distribution Review (RDR). The RDR is a regulatory initiative that was set up in June 2006 aimed to target the...

18th Nov

Practice notes

The regulation of consumer credit advertisements

Regulation of consumer credit advertisementsOn 1 April 2014, the regulation of consumer credit firms came under the supervision of the Financial...

9th Nov

Practice notes

Outsourcing in the insurance sector

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...

27th Oct

In-house

Practice notes

Insurance Distribution Directive (IDD)—Insurance Product Information Document requirements

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...

27th Oct

Practice notes

Insurance Distribution Directive (IDD)—insurance-based investment products

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...

27th Oct

Practice notes

Insurance Distribution Directive (IDD)—organisational and conduct of business requirements

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...

27th Oct

Practice notes

Insurance Distribution Directive (IDD)—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...

27th Oct

Practice notes

Special Administration for financial institutions

Brexit impactAs 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...

Produced in partnership with Dominic McCahill of Skadden 15th Oct

Practice notes