December this year sees the FCA extending the Senior Managers and Certification Regime (SMCR) to all ‘solo-regulated firms’, which will include wealth managers and financial advisers.
Legal & Regulation
Union Bancaire Privée’s Singapore branch has received regulatory approval from the Monetary Authority of Singapore (MAS) for a wholesale bank license. UB P Singapore expects to commence operations as a wholesale bank from 1 April 2019.
The UK’s Financial Conduct Authority (FCA) is urging financial services firms to ensure they are making any necessary changes to protect customers from negative impacts of leaving the EU, whatever the outcome of negotiations, including a no-deal Brexit.
The new Cayman Islands' Formal Validity of Wills (Persons Dying Abroad) Law 2018, which came into effect on 1 February 2019, offers far greater flexibility for international clients who wish to invest in and do business in the Cayman Islands.
One year since the implementation of MiFID II, a new survey of fund managers and mid and small-sized quoted companies reveals that the new regulation has had a detrimental impact on demand and liquidity for small and mid-cap stocks, as the availability and quality of analyst research continues to decline.
Research released today by HUB24 Limited, conducted with over 300 Australian financial advisers, has shown the Best Interests Duty (BID) has been overwhelmingly welcomed since its introduction in 2013.
Maples and Calder and MaplesFS which together comprise Maples Fiduciary and Maples Fund Services, have consolidated their offerings under a single brand, now called the Maples Group.
Wealth management platform Dolfin has been awarded a Category III licence, expanding its execution and post-trade services to include principal trading on the Malta Stock Exchange (MSE).
The Securities and Exchange Commission (SEC) has instituted settled proceedings against two robo-advisers for making false statements about investment products and publishing misleading advertising.
The Commodity Futures Trading Commission (CFTC) has filed a civil enforcement action against Dro Kholamian of Barrington, Illinois, and his company, Blue Star Trading, LLC (Blue Star), an Illinois limited liability company with an office in Park Ridge, Illinois.