Jonathan Herbst (UK)

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Podcast on HM Treasury proposals for the UK’s financial services regime for cryptoassets

On 1 February 2023, HM Treasury issued its latest proposals for the UK’s financial services regime for cryptoassets. It also issued a policy statement on its approach to the regulation of cryptoasset financial promotions. In this podcast Jonathan Herbst is joined by Albert Weatherill and Hannah Meakin who provide their views on the key headlines … Continue Reading

New Regulation Tomorrow podcast – Split the difference: Markets in EU and UK – what we should be expecting and hoping to see in 2023

In our new podcast series, Split the difference, which explores divergence between the EU and UK regimes in the markets space, Jonathan Herbst, Hannah Meakin, Anna Carrier and Floortje Nagelkerke provide an overview of what we should be expecting and hoping to see in 2023.… Continue Reading

New briefing note – Digital Operational Resilience for the Financial Sector (DORA): 10 things to know

On 16 January 2023, the Regulation on digital operational resilience for the financial sector (DORA) entered into force. As DORA is new and complex EU legislation we have published a new briefing note, Digital Operational Resilience for the Financial Sector (DORA): 10 things to know.… Continue Reading

Merry Christmas and a Happy New Year to our readers

To all of our global readers we would like to take this opportunity to wish you all a Merry Christmas and a Happy New Year. We will resume posting material following the festive period on 9 January 2023 although if there are any significant developments we will endeavour to provide an update.… Continue Reading

AIFMD guides: The marketing passport and the requirements for fund managers across the EU

We have now updated our two guides on the Alternative Investment Fund Managers Directive (AIFMD), which has now been in force for approximately nine years. Both guides are now in their fifth iteration. The first guide considers whether the AIFMD marketing passport is working in practice and is a useful tool for managers as it … Continue Reading

The Consumer Duty series: Post-Implementation Plan approval – Key issues for firms

In this episode, following the FCA’s interim 31st October deadline, Jonathan Herbst, Matthew Gregory, Joe Bamford and Iain Hawthorn focus on where firm’s should be now, and the key things they need to consider in taking forward their implementation plans for the new Consumer Duty. The discussion includes the steps that firms need to take … Continue Reading

Seminar – Markets infrastructure: The big picture post-Brexit

The Norton Rose Fulbright annual Markets Infrastructure seminar is back! Please join us from 15:45 – 19:00 on Thursday, 8 September 2022 for an update and discussion on key topics in the world of trade and post-trade. The seminar will be of interest to legal, compliance and risk professionals working with the buy and sell … Continue Reading

FCA portfolio letter on the Alternatives Supervisory Strategy

On 9 August 2022, the FCA published a portfolio letter on its Alternatives Supervisory Strategy. The letter outlines the FCA’s updated supervisory strategy and priorities for firms within its ‘Alternatives’ portfolio together with firms that are predominantly active in the alternative investment sector (together firms). The FCA’s alternatives portfolio is comprised of FCA authorised firms … Continue Reading

New podcasts on the Financial Services and Markets Bill

In the latest episodes of our Regulation Tomorrow podcasts: Jonathan Herbst and Hannah Meakin provide a high-level overview of the Financial Services and Markets Bill which was introduced on the 20 July 2022 (Apple podcasts / Spotify). Jonathan Herbst, Hannah Meakin and Albert Weatherill focus specifically on the Bill’s provisions relating to critical third parties … Continue Reading

FCA consults on broadening retail access to the long-term asset fund

On 1 August 2022, the FCA published Consultation Paper 22/14 ‘Broadening retail access to the long-term asset fund’ (CP22/14). In CP22/14 the FCA sets out proposals for broadening the retail distribution of long-term asset funds (LTAFs) to more categories of retail investors, whilst including further investor protections. The FCA is proposing to treat a LTAF … Continue Reading

FCA publishes policy statement on new Consumer Duty

On 27 July 2022, the FCA published Policy Statement 22/9 ‘A new Consumer Duty – Feedback to CP21/36 and final rules’ (PS22/9). This was accompanied by the FCA’s ‘Final non-Handbook Guidance for firms on the Consumer Duty’ (FG22/5). PS22/9 follows Consultation Papers 21/36 and 21/13 on the new Consumer Duty, which the FCA published in … Continue Reading

Regulation Around the World – Beyond Sanctions

What have the financial services regulators been doing following the sanctions imposed on Russia? In the latest instalment of our Regulation Around the World series we cover some of the regulatory alerts that financial services regulators have issued in key jurisdictions. Our global updater focussing on the regulatory alerts is accompanied by further analysis in our … Continue Reading

Happy Easter to our readers

To all of our global readers we would like to take this opportunity to wish you all a Happy Easter. We will resume posting material on 26 April although if there are any significant developments we will endeavour to provide an update.… Continue Reading

RT Plus – Beyond Sanctions – Market conduct and Economic Crime Bill

In the first instalment of our ‘Beyond Sanctions’, Jonathan Herbst and Haney Saadah consider market conduct issues in light of the developments in Ukraine and the UK’s Economic Crime Bill. The podcast is available to stream and download from the Norton Rose Fulbright website, Apple Podcasts and Spotify.… Continue Reading

New episode of RT Plus – CP 22/2 – Strengthening our financial promotion rules for high risk investments, including cryptoassets

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 … Continue Reading

New FCA webpage on financial sanctions measures in relation to Russia

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 … Continue Reading

FCA issues statement on supervision of commodity derivative position limits

On 20 December, the FCA published a statement on its website regarding the supervision and enforcement of commodity derivative position limits (‘the Statement’). The Statement reiterates the position taken in its December 2020 Supervisory Statement (‘2020 Statement’) that the FCA did not intend to take supervisory or enforcement action for positions that exceed limits where … Continue Reading

Merry Christmas and a Happy New Year to our readers

To all of our global readers we would like to take this opportunity to wish you all a Merry Christmas and a Happy New Year. We will resume posting material following the festive period on 6 January 2021 although if there are any significant developments we will endeavour to provide an update.… Continue Reading

The Future Regulatory Framework Review – RT Plus Podcast out now

Another episode of RT Plus is out now to stream and download. In this episode we are delighted to be joined by UK Finance’s Director of Strategy and Policy, Matthew Conway, for a lively discussion on the Treasury’s latest consultation paper on the Future Regulatory Framework Review. In this episode, Jonathan Herbst and Matthew Gregory … Continue Reading

The UK TPR is ending – what should EU firms do next?

The recording of our recent webinar ‘The UK TPR is ending – what should EU firms do next’ is now available. The webinar, which is targeted both at standalone EU firms using the temporary permissions regime (TPR) and at EU firms using the TPR who are within those groups with a UK presence, covers the … Continue Reading

Norton Rose Fulbright | Transactions special: Deal making in a regulated environment

3 More London Riverside SE1 2AQ  08 December 2021 | 08:50 – 09:30 GMT There have been many macro-economic factors driving enhanced deal volumes in the last few years, from Brexit to pandemic-related realignments. Transactions involving regulated entities present unique challenges to principles, as well as their lawyers and other advisors throughout the transaction timeline. … Continue Reading
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