Financial crime

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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...

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...

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...

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

Consumer protection—FCA and other regulatory requirements

This Practice Note looks at key aspects of consumer protection within the UK financial services regulatory system. The UK’s regulatory structure,...

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

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 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

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

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

Most recent Financial crime content

Practice notes

Impact of Brexit: Market Abuse Regulation—quick guide

This quick guide provides high-level information on the measures taken under the European Union (Withdrawal) Act 2018 (EU(W)A 2018) (as amended by the...

25th Nov

Brexit

Practice notes

FCA enforcement essentials—investigations

Lexis®PSL Financial Services FCA/PRA Enforcement Database: This incorporates detailed information on all substantive FCA and PRA Final Notices and,...

25th Nov

Practice notes

FCA and PRA whistleblowing requirements—one minute guide

FCA and PRA rules on whistleblowingOn 6 October 2015, the Financial Conduct Authority (FCA), alongside the Prudential Regulation Authority (PRA)...

Produced in partnership with DLA Piper UK LLP 25th Nov

Practice notes

FCA enforcement essentials—preventing a referral to FCA enforcement

Lexis®PSL Financial Services FCA/PRA Enforcement Database: This incorporates detailed information on all substantive FCA and PRA Final Notices and,...

Produced in partnership with Vaibhav Adlakha of Reed Smith and Tim Dolan of Reed Smith 25th Nov

Practice notes

Whistleblowing—UK regulatory issues

Employment Rights Act 1996 and Public Interest Disclosure Act 1998Under the Employment Rights Act 1996 (ERA 1996), as amended by the Public Interest...

25th Nov

Practice notes

The enforcement of financial sanctions breaches in the UK

This Practice Note describes the current position on the enforcement of financial sanctions breaches in the UK as it applies during the implementation...

Produced in partnership with Roger Matthews of Dentons 25th Nov

Precedents

Money Laundering Regulations 2017—nominated officer job description and role profile

1Nominated officer detailsName of organisation[Insert name]Name of nominated officer[Insert name]Reports to[Insert name]Full time/part...

25th Nov

Practice notes

MLD4 and 2017 MLRs—customer due diligence checklist for financial services firms

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...

25th 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...

25th Nov

Practice notes

Money Laundering Directive 4 (MLD4)—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...

25th 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...

25th Nov

Practice notes

Financial Action Task Force (FATF)

This Practice Note introduces the Financial Action Task Force (FATF) and its work in relation to setting standards and promoting adoption and use of...

25th Nov

Practice notes

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...

25th Nov

In-house

Practice notes

The anti-money laundering regime

BREXIT: The UK’s exit from the EU and the end of the implementation period on 31 December 2020 will have an impact on this Practice Note. For more...

25th Nov

Practice notes

Systems and controls to prevent money laundering and counter terrorist financing

The requirements to have robust systems and controls in a regulated firm to prevent money laundering originate from:•the Money Laundering, Terrorist...

25th Nov

Q&As