Following publication of a letter dated 21 August between Dame Elizabeth Gloster and Charles Randell, FCA Chair, about the investigation into the FCA’s regulation of London Capital & Finance plc (LC&F), the FCA has confirmed that the revised date for the completion of the investigatory report has moved from 30 September 2020 to
UK Finance Paper on Cyber Incident Management
On 1 July 2020, UK Finance, which represents over 250 firms across the banking and finance industry, published a paper on managing cyber incidents, designed to assist firms in thinking about their response plans. The paper emphasises the importance of firms being able to action an effective response to a cyber-attack and key takeaways include:
Heightened risk of market abuse in a remote working context?
In a recent snapshot poll of webinar participants, 87% of our clients thought there was an increased risk of market abuse in a remote working context. The FCA appears to share this view and has identified a heightened risk of market abuse in the context of COVID-19 in the following areas: (i) in the context
Horizon scan: more FCA spoofing cases in 2020/21?
Commentators sometimes compare the FCA’s spoofing case record unfavourably with that of its US counterparts. Where the FCA has pursued cases, typically the FCA has used its civil powers in relation to market manipulation rather than its criminal powers to prosecute those who create false or misleading impressions in relation to the market in or
July 40 Minute Briefing on Operational Resilience – register now
On 1 July we will be releasing the July edition of the 40 minute briefing. The webinar will cover issues relating to operational resilience, with views from lawyers and consultants on the following:
- The operational resilience process – mapping, impact tolerances and testing
- Outsourcing and third party supply
- What we are seeing in the market
July 40 Minute Briefing – Operational Resilience
Financial institutions have to deal with two challenges in the face of the COVID-19 pandemic. The first challenge is financial – how to address and mitigate the sharp drop in the value of financial assets or loss of liquidity. The second challenge is operational – how to address the risk of failure of resources (people,
Beware the use of Whatsapp at work
Introduction
Before the onset of COVID-19, many firms did not permit the use of WhatsApp in a work context. However, many employees are now working remotely in response to the government’s guidance to avoid non-essential social contact and travel with effect from Monday March 16 2020, and certain firms may be contemplating relaxing their Whatsapp
Practical governance: top tips for conference calls/virtual meetings
Many UK boards will be operating on a remote basis in response to the government’s guidance to avoid non-essential social contact and travel with effect from March 16 2020. Listed entities in particular will be facing difficult decisions about the impact COVID-19 is having, or might foreseeably have, on expected performance in a fast evolving
Regulatory Enforcement and Sanctions Trends 2019
In this on-demand webinar, members of our Regulation and Investigations team in London explore regulatory and sanctions trends that emerged throughout 2019 as well as likely developments for the upcoming year based on recent enforcement cases and forward-looking statements from the regulators. To access the webinar, please click the below link and enter your details
First FCA prosecution for alleged destruction of documents
A former banker has been charged with the offence of destroying documents which he knew or suspected were relevant to an FCA investigation. It is alleged that Mr Vishnyak deleted WhatsApp messages after he was required to provide them as part of an FCA investigation into suspected insider dealing offences. He pleaded not guilty at