On 24 February 2022, the FCA published a new webpage concerning the number of suspicious transaction and order reports (STORs) that were received during 2021. In total 4,871 STORs were made in 2021, 4,233 for insider dealing and 638 for market manipulation. In 2020 the FCA received 4,239 STORs (3,553 for insider dealing and 680
On 24 February 2022, the Business Banking Resolution Service (BBRS) issued a press release urging businesses with outstanding historical banking disputes to see if they can apply for support using an online tool as the deadline for historical complaint applications is just one year away, closing on 14 February 2023. Professional services businesses are also
A new episode of RT Plus is available to stream and download. In this episode, Jonathan Herbst and Hannah Meakin discuss the FCA’s recent consultation paper, CP22/2 – Strengthening our financial promotion rules for high risk investments, including cryptoassets.
CP22/2 has been long anticipated, having been trailed by a discussion paper on the same topic
In April 2021 the Banking Standards Board relaunched itself as the Financial Services Culture Board (FSCB), with an expanded membership scope to include firms across financial services. On 23 February 2022, the FSCB together with the Financial Services Skills Commission (FSSC) published a report ‘Inclusion across financial services: Piloting a common approach to measurement’.
On 23 February 2022, the European Securities and Markets Authority (ESMA) issued a call for evidence seeking views on:
On 23 February 2022, the FCA issued its first portfolio letter to all credit rating agencies (CRAs) in its portfolio setting out what it expects CRAs to do to minimise risks to consumers, market integrity or competition from failures to meet regulatory requirements.
The portfolio letter sets out the FCA’s supervisory priorities under the following
On 22 February 2022, the FCA published a new webpage concerning its expectations of firms in light of the UK’s sanctions on Russia.
The key message from the FCA is that it expects firms to have established systems and controls to counter the risk that they might be used to further financial crime and this
New draft regulations show that schemes have much to do to get ready for Pensions Dashboards. For master trusts and defined contribution (DC) auto-enrolment schemes the pressure is on.
Dashboards are online platforms which will allow people to view information about all their pensions, including their state pensions, in one place. The Pensions Dashboards Programme
Another episode of RT Plus is available to stream and download. In this episode, Hannah Meakin and Albert Weatherill from the financial services team are joined by Verity Quartermain, a member of Norton Rose Fulbright’s IP and Technology disputes team, to discuss the recent attention around crypto advertising.
It is undeniable that the market for
On 22 February 2022, there was published in the Official Journal of the EU (OJ), Commission Delegated Regulation (EU) 2022/244 of 24 September 2021 setting out regulatory technical standards (RTS) that specify the calculation of the amount of the total margin required for the calculation of the K-factor ‘clearing margin given’ (K-CMG) and the criteria