The FCA has published the latest data on its work to tackle harm in the consumer investments market between April to September 2021. The data provides useful insights into specific areas of the FCA’s Consumer Investments Strategy, particularly higher-risk investments and scams.
They have also issued a press release on the data, which you can find here.
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Most readers will be aware of the FCA’s successful legal action in what has been widely referred to as the Avacade case, which is how we will refer to it in this article. In fact, the case was brought against a number of defendants/appellants, namely: AVACADE LIMITED (in liquidation) (trading as AVACADE INVESTMENT OPTIONS) […]
We have received the following correspondence from the FCA: “On 12 August 2021, we sent the below e-mail* informing you of our plans to issue a Covid-19 Impact Survey to firms in Tranche 2 for a fifth time. We have since identified a discrepancy with the survey links (issued between 23-25 August 2021). […]
The FCA is consulting on moving some decision-making from its Regulatory Decisions Committee (RDC) to its Authorisations, Supervision and Enforcement Divisions. This will give greater responsibility for decisions to senior members of FCA staff close to the matters. The consultation (CP21/25) has been published and will close on 17 September. In particular, the FCA is proposing a […]
There is a longstanding regulatory principle (Principle 8) that a firm must manage conflicts of interest fairly, both between itself and its customers and between a customer and another client. Specific rules give effect to that principle. Some readers will recall the change of emphasis around conflicts of interest rules that arrived with MiFID II […]
Trust Registration Service – update
John Begg Compliance 2017, 2020, 2021, EU, ML, Pension, PI, Register, transfer, Update
New rules, transposing the Fifth Money Laundering Directive (5MLD) into UK law took effect on 10 January 2020. One impact of the rules was to broaden the scope of the Trust Registration Service (TRS) requirements. you can read more about 5MLD and TRS here. In brief, the previous rules required that all express trusts that […]