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Latest Financial Services News

Financial Services weekly highlights—21 January 2021

Financial Services weekly highlights—21 January 2021

The following Financial Services news provides comprehensive and up to date legal information on Financial Services weekly highlights—21 January 2021

Investment protection under the EU-UK Trade and Cooperation Agreement—is it a Canada-style deal?

Investment protection under the EU-UK Trade and Cooperation Agreement—is it a Canada-style deal?

The following Arbitration news provides comprehensive and up to date legal information on Investment protection under the EU-UK Trade and Cooperation Agreement—is it a Canada-style deal?

Law must change to go after companies allowing financial crime, MPs urge

Law must change to go after companies allowing financial crime, MPs urge

The following Corporate Crime news provides comprehensive and up to date legal information on Law must change to go after companies allowing financial crime, MPs urge

What does Brexit mean for dispute resolution in England and Wales?

What does Brexit mean for dispute resolution in England and Wales?

The following Banking & Finance news provides comprehensive and up to date legal information on What does Brexit mean for dispute resolution in England and Wales?

Featured Financial Services content

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...

Insurance conduct regulation—COBS and ICOBS

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

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

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

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...
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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...
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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
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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

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...
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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

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...
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9th Nov
tag iconIn-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...
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9th Nov
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
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...
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9th Nov
tag iconBrexit
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...
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9th Nov

Most recent Payment services and systems content

Practice notes

Quick Look Brexit Financial Services Legislation Status Guide—payments services and systems

This Brexit Financial Services Legislation Status Guide provides high-level information on the status of EU legislation that regulates the payments...
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18th Jan
Practice notes

Impact of Brexit: SEPA—quick guide

This Single European Payments Area (SEPA) quick guide details current UK legislation and retained EU legislation in relation to requirements that were...
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18th Jan
tag iconBrexit
Practice notes

Interchange Fee Regulation—essentials

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...
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17th Jan
Practice notes

Payment Services Regulations 2017—authorisation and passporting rights

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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17th Jan
Practice notes

What is electronic money?

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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17th Jan
Practice notes

Payment Accounts Directive—essentials

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 Jeanette Burgess of Walker Morris 17th Jan
Practice notes

Payment Services Directive 2 (PSD2)—one minute guide

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 Bill McCaffrey of CMS 17th Jan
Practice notes

E-money—passporting, outsourcing and use of distributors and agents

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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17th Jan
Practice notes

Payment Services Regulations 2017—criminal offences and the FCA's and PSR's approaches

Criminal offences under the Payment Services Regulations 2017Under regulation 138 of the Payment Services Regulations 2009, SI 2017/752 (PSRs 2017),...
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17th Jan
Practice notes

Mobile payments—essentials

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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17th Jan
Practice notes

Payment Systems Regulator—supervisory approach

The Payment Systems Regulator (PSR) consulted on its approach to supervising payment systems in a consultation paper (PSR CP14/1) in November 2014....
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Produced in partnership with Sidley Austin LLP 17th Jan
Practice notes

Impact of Brexit: Payment accounts—quick guide

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 >
17th Jan
tag iconBrexit
Practice notes

Open banking

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. For...
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Produced in partnership with Sam Robinson, Duncan Turner and Jon Monks of CMS 17th Jan
Practice notes

Electronic money institution prudential requirements

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. For...
Read More >
17th Jan
Practice notes

Payment Services Regulations 2017—disclosure requirements

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. For...
Read More >
17th Jan
Practice notes

SEPA Regulation and cross-border payments—essentials

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 >
17th Jan
Practice notes

Open Banking—one minute guide

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. For...
Read More >
17th Jan
Practice notes

The regulation of electronic money institutions—essentials

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 DLA Piper UK LLP 17th Jan
Practice notes

Payment Systems Regulator—duties and powers

General dutiesThe Payment Systems Regulator (PSR) has a number of statutory duties and powers under the Financial Services (Banking Reform) Act 2013...
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Produced in partnership with Sidley Austin LLP 17th Jan
Practice notes

Security requirements for mobile payments

IntroductionThis Practice Note outlines the key legal issues regarding security faced by mobile payment service providers as well as those faced by...
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Produced in partnership with Puesan Lam of DLA Piper 17th Jan

Popular documents

LEXISNEXIS

Strike out—no reasonable grounds for bringing or defending the claim (CPR 3.4(2)(a))

Coronavirus (COVID-19): The guidance detailing normal practice set out in this Practice Note may be affected by measures concerning process and procedure in the civil courts that have been introduced as a result of the coronavirus (COVID-19) pandemic. For guidance, see Practice Note: Coronavirus

LEXISNEXIS

Constructive trusts

Millett LJ subdivided types of constructive trust into two categories, distinguishing between:•the constructive trust proper, where equity intervenes to prevent the legal owner from unconscionably denying the beneficial interest of another (known as the institutional constructive trust)•the

LEXISNEXIS

Automatism

Definition of automatismAn act is done in a state of automatism if it is done by the body without control by the mind, (eg it is a spasm or a reflex), or if it is done by a person who is not conscious of what they are doing. The act may be described as involuntary, but will not be regarded as such

LEXISNEXIS

The tort of deceit

Deceit—what is it?A deceit occurs when a misrepresentation is made with the express intention of defrauding a party, subsequently causing loss to that party.The elements of a claim in deceit are:•a clear false representation of fact or law•fraud by the maker, in the sense that they knew that the