Research by global financial services regulatory consultancy Bovill finds that despite the FCA pursuing 19 investigations under the Senior Managers and Certification Regime (SMCR), to date there has been only one successful enforcement action.
Legal & Regulation
Following participation in the FCA’s Sandbox initiative in 2018/2019, SquareBook has received regulatory authorisation under Article 25 (2) of the Regulated Activities Order to ‘make arrangements with a view to transactions in investments’.
It seems that the jury is still out regarding the recent proposals by the Investment Association for a long-term asset fund structure. The IA is proposing a new open-ended fund structure that would have the ability to invest in less liquid or illiquid assets, such as property and infrastructure projects.
With operational resilience a key area of focus of the UK’s Financial Conduct Authority (FCA) business plan for 2019/2020, Paul Roberts, CEO, Milestone Group, explains that there will be a significant impact on compliance teams at investment trusts, OEICs, specialist funds and ETF funds, and particularly for those individuals responsible for the NAV process.
Amendments providing greater certainty and clarity to Cayman trusts law reaffirm the Cayman Islands' position as a market leading jurisdiction for the establishment and administration of sophisticated trust arrangements.
In response to the European Commission’s updated Shareholder Rights Directive, Broadridge Financial Solutions is launching an extended solution to support both institutional- and retail-focused intermediaries for global proxy voting.
Compliance firm Robert Quinn Consulting and family office Capricorn Capital Group have joined forces to create a discretionary management regulatory hosting platform, Capricorn Regulatory Hosting, with offices in London, New York, and through Capricorn, Johannesburg and Hong Kong.
PIMFA, a trade association for investment managers and financial advisers, is now offering free webinars and podcasts to members and non-members covering key topics and themes affecting the industry and firms.
The FCA has launched a review of the Retail Distribution Review (RDR) and the Financial Advice Market Review (FAMR) reviewing their impact on the market to date, and assessing how the market may develop in the future.
JTC been granted a trust licence by The Cayman Islands Monetary Authority (CIMA) allowing the firm to offer a broad range of trust administration services through the Cayman Islands.