Consumer credit—ombudsman and guidance

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Retained EU law—a guide for the perplexed

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Brexit SI Bulletin—latest drafts and sifting committee reports, 15 January 2021

The following Financial Services news provides comprehensive and up to date legal information on Brexit SI Bulletin—latest drafts and sifting committee reports, 15 January 2021

Comment—Brexit finance equivalence still achievable as eyes turn to administrative co-operation

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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...

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

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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...

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 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...

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

Recognised investment exchanges

Recognised investment exchangesA recognised investment exchange (RIE) is a UK recognised body under Part XVIII of the Financial Services and Markets...

9th Nov

In-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...

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...

Produced in partnership with Andrew Henderson Partner, Eversheds Sutherland LLP 12th Jan

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

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...

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...

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 Consumer credit—ombudsman and guidance content

Practice notes

Financial Ombudsman Service—essentials

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

17th Jan

Practice notes

The Financial Services Compensation Scheme

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

Produced in partnership with Honor Levy of LexisNexis 17th Jan

Practice notes

Financial Ombudsman Service—compulsory jurisdiction

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

Produced in partnership with Honor Levy of LexisNexis 17th Jan

Practice notes

Financial Ombudsman Service—remedies

Awards by the FOSWhere a complaint to the Financial Ombudsman Service (FOS) is upheld, the FOS may order a respondent firm (the respondent) to pay...

17th Jan

Practice notes

The complaint-handling process of the Financial Ombudsman Service

The complaint-handling procedures of the Financial Ombudsman Service (FOS) are published as part of the Financial Conduct Authority's (FCA) Handbook,...

17th Jan

Practice notes

Complaints handling by financial services firms

CORONAVIRUS (COVID-19): The FCA has issued a statement setting out its expectations on complaints handling by firms during the coronavirus pandemic....

17th Jan

Practice notes

Super complaints to the FCA

Background to super complaintsThe Financial Services Act 2012 amended the Financial Services and Markets Act 2000 (FSMA 2000) by introducing two new...

17th Jan

Practice notes

Action for damages under FSMA 2000

This Practice Note explains the rights held by certain categories of person to sue authorised firms in circumstances in which they have suffered a...

24th Dec

Practice notes

Financial Ombudsman Service—eligible complainants

What is an 'eligible complainant'?In order to refer a complaint to the Financial Ombudsman Service (FOS), a person must be an 'eligible complainant'....

29th Nov

Practice notes

Consumer Redress Schemes

What is a consumer redress scheme?Rule making powers came into force in 2010 which afforded the predecessor to the Financial Conduct Authority (FCA),...

29th Nov

Practice notes