The following Financial Services practice note Produced in partnership with Pan Papakyprianou, Associate of Linklaters LLP provides comprehensive and up to date legal information covering:
The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) may request an attestation from a firm where they are concerned about (or investigating) an actual or potential breach of regulatory requirements. Broadly speaking, an attestation is a request from the regulator to an individual at a regulated firm (usually a member of management who is also a Senior Manager) that they provide a signed, written confirmation of the firm’s compliance with a regulatory requirements in relation to a particular aspect of the business.
The FCA issued guidance in the form of a letter to the FCA Practitioner Panel in August 2014 on the use of attestations (the Attestation Letter), to clarify its views on when it expects to use attestations and the outcomes it wants to achieve.
The PRA also uses attestations as a routine supervisory tool (generally using standard forms), although it has stated that it can require attestations as to compliance with specific regulatory requirements on an ad hoc basis. As
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
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
The Financial Conduct Authority Handbook (FCA Handbook) includes sourcebooks to regulate the conduct of business by a regulated firm relevant to insurers: the Conduct of Business Sourcebook (COBS) and the Insurance Conduct of Business Sourcebook (ICOBS). This Practice Note considers how these
An intention to create legal relations is requiredThere are various situations in which a court will hold that an agreement is not binding because, though supported by consideration, it was made without any intention of creating legal relations (see, eg, Blue v Ashley).Did the parties intend to
Background to the Single RulebookHistorically, the European Commission (Commission) favours using Directives (rather than Regulations) to set out its legislation in respect of the financial services sector. However, Directives, allowing Member States greater flexibility in how they implement
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.