On 25 August 2023, HM Treasury published Statutory Instruments (SI) 2023 No.937 Financial Services and Markets The Financial Services and Markets Act 2023 (Commencement No.3) (Amendment) Regulations 2023.
These Regulations are the third commencement regulations made under the Financial Services and Markets Act 2023 (the Act) and amend the Financial Services
On 25 August 2023, there was published a correction to the The Electronic Money, Payment Card Interchange Fee and Payment Services (Amendment) Regulations 2023.
The correction provides that:
On 10 August 2023, the FCA published the findings from its review of processes Authorised Fund Managers (AFMs) use for assessments of value (AoVs) for the funds they operate. This is a follow-up to the feedback the FCA gave from its first review in July 2021.
In 2017, the FCA published
On 29 June 2023, the FCA published Policy Statement 23/7: Broadening retail access to the long-term asset fund (PS23/7). PS23/7 sets out the FCA’s response to the feedback it received to its earlier consultation paper on broadening retail access to the long-term asset fund (LTAF) (CP22/14) and details the
In the third in our series of Regulation Tomorrow podcasts focusing on the future of asset management regulation in the UK, Hannah Meakin, Taher Ahmed and Anita Edwards discuss the role of depositaries in the sector and the FCA’s proposals for reform, as set out in the recent FCA discussion paper, DP23/2.
For more information
On 12 May 2023, the FCA published Consultation Paper 23/11 ‘Remuneration: Enhancing proportionality for dual-regulated firms’ (CP23/11).
The FCA implemented remuneration provisions for dual-regulated firms in the dual-regulated firms Remuneration Code (SYSC 19D). These requirements are similar to PRA rules in the Remuneration Part of its Rulebook. The FCA has three
In the second in our series of Regulation Tomorrow podcasts focusing on the future of asset management regulation in the UK, Hannah Meakin, Taher Ahmed and Anita Edwards discuss potential reforms to regulatory hosting structures and appointed representatives, a topic discussed in the FCA’s recent discussion paper, DP23/2.
For more information on DP23/2, see our
In the first in our new series of Regulation Tomorrow podcasts focusing on the future of asset management regulation in the UK, Hannah Meakin, Taher Ahmed and Anita Edwards discuss some of the macro-themes arising from the FCA’s recent discussion paper, DP23/2, on the future of the UK’s asset management regime. For more information on
The FCA’s discussion paper DP23/2, which is open for comment until 22 May 2023, sets out a range of proposals to reform the UK regulatory regime for asset managers and funds. The DP follows the government’s conclusion in December 2022 of its Future Regulatory Framework review and is intended to help the FCA decide how
On 3 February 2023, the FCA published a portfolio letter addressed to CEOs of asset management firms, setting out its supervisory strategy for the sector. In the letter, the FCA outlines the harms to consumers or markets that it believes are most likely to arise from asset managers’ business models and explains how it intends