United Kingdom (and EU regulation)

FCA Regulation Round-up – May 2015

The FCA has published its latest Regulation Round-up.

The Round-up includes the FCA:

reminding firms that it has published a one minute guide and a recording of a MAR overview briefing held in March;
reminding firms that it has published a recording of a CASS briefing held in January for CASS medium firms; and
providing clarification on the connected contracts exclusion when a firm also provides credit facilities. The FCA mentions that in response to industry queries, it has recently issued a clarification for firms who offer, arrange or advise on related insurance contracts or assist in administering insurance contracts that are not their main line of business and also arrange credit. The FCA considers that a regulatory exclusion is still available for firms when their main line of business does not otherwise consist of carrying on a regulated activity (other than one for which they have only interim permission). The FCA adds that more detail about this exemption can be found on its website.