An introduction to the UK FCA’s client money rules for investment firms, with John David Thiede of Sidley Austin LLP

They make up one chapter out of 12 in a set of recently revised rules published by just one regulator. Yet it would not be hyperbolic to describe the new client money rules set out in the Client Asset Sourcebook (CASS) of the United Kingdom Financial Conduct Authority (FCA) as one of the most excruciatingly detailed and prescriptive set of operational obligations imposed on investment firms, including asset managers, of any introduced since the financial crisis. They came fully into force on 1 June this year. Dominic Hobson spoke to John David Thiede of Sidley Austin LLP, who was closely involved in their drafting during his time with the FCA.

Posted on: 21 Oct, 2015

Restoring Trust in Foreign Exchange

The global foreign exchange (FX) market is a paradox. With daily trading volume of around US$5 trillion, it’s the world’s deepest and most liquid financial market.

Posted on: 21 Jul, 2015
Posted in: Feature

Buy-side urged to review custodians’ asset safekeeping arrangements

Asset managers and end investors should consider increased due diligence as to the way in which their assets are held in custody at their custodian banks following the UK Financial Conduct Authority’s (FCA) £126 million fine of BNY Mellon.

Posted on: 20 Apr, 2015
Posted in: Buy-Side Features

FCA scrutiny over outsourcing could be extended to insurers and pensions

Insurers and even pension funds could potentially face scrutiny from the UK’s Financial Conduct Authority (FCA) over their outsourcing arrangements in a manner not too dissimilar from the thematic review undertaken against asset managers.

Posted on: 11 Dec, 2014
Posted in: Regulation

Fund managers still charging end clients for research despite FCA clampdown

Almost three quarters of UK investment firms have taken little or no action to revise the way in which they purchase research using dealing commissions despite the recent clampdown by the Financial Conduct Autho

Posted on: 28 Oct, 2014
Posted in: Regulation

MiFID II research costs will disproportionately impact smaller managers

Requirements under the Markets in Financial Instruments Directive II (MiFID II) stipulating fund managers must pay for research through their management fee as opposed to equity commissions will adversely impact smaller firms.

Posted on: 27 Oct, 2014
Posted in: Regulation

DTCC urges greater collaboration on cyber-crime threats

A white paper published by the Depository Trust & Clearing Corporation (DTCC) has urged regulators and financial institutions to collaborate more on the increasing threats posed by cyber-crime.

Posted on: 23 Oct, 2014
Posted in: Technology

Financial institutions warned on cyber-insurance

Financial institutions must ensure they have adequate cyber-insurance to deal with the aftermath of any cyber-breach.

Posted on: 08 Oct, 2014
Posted in: Technology

SCM Private unveils investment platforms promising enhanced transparency

SCM Private, the investment firm, has launched three direct- to-consumer online investment platforms - SCMDirect.com, SCM50.com and MoneyShe.com - that aim to undercut rival platforms by up to two thirds on all costs and fees, and bolster transpar

Posted on: 01 Oct, 2014
Posted in: Launches

Central Bank of Ireland urges EU and US to harmonise regulatory reports

Regulators in the US and EU need to harmonise the data sets and methodologies required for filing Annex IV under the Alternative Investment Fund Managers Directive (AIFMD) and Form PF, and even push this issue to the G20, according to the Central

Posted on: 29 Sep, 2014
Posted in: Regulation


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