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We will resume posting material following the festive period on 7 January 2025 although if there are any significant developments we will endeavour to provide an update.
I wanted to make some brief comments on CP24/21 relating to investment research payment optionality for fund managers. The punchline is that the FCA is going to take the same line in liberalising the regime for fund managers as it has for investment managers of segregated portfolios. This will apply not just to unregulated AIFs
Market Watch 81 might on a first pass appear relatively uncontroversial in giving feedback on the FCA’s recent findings on transaction reporting. I would say that one should think again on this and suggest that there is a lot of food for thought here.
The basics on the Market Watch are set out in our
On 7 November 2024, the Financial Services and Markets Act 2023 (Consequential Amendments) Regulations 2024 were laid before Parliament and published on legislation.gov.uk, along with an explanatory memorandum.
The Regulations make consequential amendments resulting from the commencement of provisions in (or made under) the Financial Services and Markets Act 2023 (FSMA 2023).
In the latest Global Regulation Tomorrow Plus episode, Jonathan Herbst, Hannah Meakin and Anita Edwards discuss some of the key issues concerning the UK regime for payment for order flow.
Listen to the episode here.
There are two methods which allow the marketing of alternative investment funds (AIFs) in the EU by alternative investment fund managers (AIFMs). The first method is a marketing “passport” which has been introduced by the Alternative Investment Fund Managers Directive (AIFMD) to allow AIFs to be marketed to professional
In summer 2024, the Prudential Regulation Authority (PRA) published a Consultation Paper, CP11/24, on International firms: Updates to Supervisory Statement (SS5/21) and branch reporting. CP11/24 is key to understanding the booking models that the PRA will accept and reflects the debates which the branches of European banks have had in
In our latest Global Regulation Tomorrow Plus podcast, Jonathan Herbst, Hannah Meakin and Anita Edwards discuss PRA Consultation Paper 11/24, which sets out proposals updating the regulator’s approach to international banks.
Listen to the episode here.