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Ready or not, here comes the Consumer Duty

By Chris Webber and Ian Debbage on Posted in Banking, Insurance, Investment Management, Mis-Selling, Pensions, Regulation
Since July 2022 when the FCA published its rules and guidance to implement the Consumer Duty, much ink has been spilled on what it will mean for affected firms. Now, with the clock ticking down to implementation on 31 July 2023, the FCA has published the findings of its review of a number of larger … Continue Reading

LCF mini-bond holders withdraw appeal against FSCS

By Chris Webber and Maria Shorter on Posted in Investment Management, Regulation
The Financial Services Compensation Scheme (FSCS) confirmed on 23 August that London Capital and Finance (LCF) mini-bond holders have withdrawn their appeal against an important March 2021 High Court decision dismissing their judicial review claim.  FSCS confirmed that the litigation had been concluded without any change to any of its earlier decisions on LCF claims.… Continue Reading

GameStopped? Regulators react to the “short squeeze”

By Chris Webber on Posted in Investment Management, Regulation
While trading frenzies are as old as the markets themselves, the novelty of widespread retail trading in obscure US stocks fueled by Reddit chat forums has prompted recent interventions by regulators on both sides of the Atlantic. Unfortunately the FCA’s terse 29 January statement on “recent share trading issues” gave little insight into how it … Continue Reading

Sustainable Finance Disclosure Regulation – new ESG challenges for asset managers

By Chris Webber and Sara Love on Posted in Investment Management
What is SFDR? The SFDR is part of the European Commission’s package of reforms to implement its sustainable finance strategy. The strategy focuses on three areas: Strengthening the foundations for sustainable investment by creating an enabling framework. The Commission believes many financial (and non-financial) companies still focus excessively on short term financial performance instead of … Continue Reading

FCA publishes business plan for 2020/21

By Squire Patton Boggs on Posted in Fraud and Financial Crime, Insurance, Investment Management, Pensions, Regulation
The FCA yesterday set out its business priorities for the years ahead, focussing in part on the unique challenges presented to the financial services industry by the Covid 19 pandemic. In this blog we look at three issues that the FCA’s Business Plan for 2020/21 pays special attention to, the regulatory response to the Covid-19 … Continue Reading

Coronavirus – insurance issues for UK businesses and insurers

By Squire Patton Boggs on Posted in Insurance, Investment Management
Earlier this week we looked at the effect that Coronavirus may be having on events cancellation, travel and personal accident insurances. However, businesses should now consult with their professional advisers and insurance managers over the extent of the wider insurance programme that they might have in place to cover other financial losses caused or contributed … Continue Reading

Responsible Investment Framework: IA aims to increase clarity and consistency

By Mariko Yanagisawa on Posted in Investment Management
The Investment Association (IA) published the Final Report on its Responsible Investment Framework on 18 November 2019 (the Report). The Report was created following an industry-wide consultation led by the IA at the beginning of 2019 regarding the Responsible Investment Framework (the Framework); the proposal for a UK retail product label; and the use of … Continue Reading
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