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Financial Services - Regulatory & Risk

Blog

Crypto and Blockchain

Published on 25 May 2018. By James Kaufmann, Legal Director

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In February, the House of Commons Treasury Committee announced an inquiry in to digital currencies. The inquiry covers the role of digital currencies in the UK and the potential impact of distributed ledger technology (blockchain) on financial institutions and financial infrastructure.

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Blog

TPR announces new approach for pension regulations

Published on 17 May 2018. By Ashley Daniells, Associate

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The Pensions Regulator (TPR) has announced new plans for the regulation of pensions, which will see a "clearer, quicker and tougher" approach. The plans are aimed at increasing standards in the pension sector following criticisms levied at TRP after the collapse of businesses such as Carillion and BHS.

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Blog

Cybercrime and its impact on D&O insurance

Published on 15 May 2018. By Ashley Daniells, Associate and Drew Naylor, Senior Associate

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Cybercrime has risen in recent years, perhaps more than anybody ever expected. For a long time, the focus was on defending businesses against such crimes. Now, with more people aware of cybercrime and the risks, insurers are becoming increasingly aware of the impact such crime may have on D&O policies.

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Blog

FSCS – reviewing the funding of the fund of last resort

Published on 09 May 2018. By Sarah Dowding, Senior Associate

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In its third consultation paper on this topic, the FCA has recently confirmed that: - FSCS claims in respect of investment advice will benefit from an increased compensation cap, from £50,000 to £85,000; - product providers will have to start making contributions to FSCS funding for insurance and investment advice claims; and - it proposes new rules to prevent personal investment firms' insurers excluding cover for claims where the firm or a third party becomes insolvent.

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Publication

Cryptocurrency pre-ICO funding – a regulatory overview

04 May 2018

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The FCA has issued a discussion paper targeted at the non-workplace pension market. The paper marks the start of the FCA's work looking at whether there is harm in the non-workplace pension market and to better understand the potential presence, nature, extent and cause of any harm.

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Publication

Pension transfers

30 April 2018

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The FCA tries again to get it right with new rules and a further consultation paper.

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Blog

The FCA publishes its 2018/19 Business Plan

Published on 23 April 2018. By Charlotte Thompson, Associate

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On 9 April 2018 the FCA published its Business Plan for 2018/19, demonstrating its continued focus on culture and governance in firms, tackling financial crime and the role of technology in the financial services industry.

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Blog

Unregulated cryptocurrencies – an end in sight?

Published on 18 April 2018. By Ashley Daniells, Associate and Matthew Watson, Associate

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Since their creation, cryptocurrencies have been somewhat of an enigma. Decentralised digital currencies such as Bitcoin have remained unregulated, despite becoming more prevalent in our day-to-day lives. That could be about to change with the FCA announcing plans to include them as part of their other regulated products or services.

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Blog

FCA success in the High Court: Compensation of £16.9m awarded to misled investors

Published on 16 April 2018. By Lucy Kerr, Associate

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A five-year court battle between the Financial Conduct Authority ("FCA") and Capital Alternatives Limited concluded on 26 March 2018 when the High Court used its restitution powers under the Financial Services and Markets Act 2000 to award compensation to investors who lost money invested with Capital Alternatives.

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Blog

ESMA cracks down on the sale of binary options and CFDs to retail investors

Published on 29 March 2018. By Lucy Kerr, Associate

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The European Securities and Markets Authority (ESMA) has announced its intention to prohibit the sale of binary options to retail investors and to place restrictions on the sale of contracts for difference (CFDs). This is the first use of ESMA's new intervention powers under MiFID II.

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