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.
Legal & Regulation
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.
Most advisers are aware of the Senior Management and Certification Regime (SM&CR) that comes into force in December 2019 and almost two thirds (62 per cent) of advisers are well on the way to being compliant, according to a survey of 325 users of Intelliflo's Intelligent Office (iO) in March 2019.
Following consultation feedback, the Financial Conduct Authority (FCA) has confirmed all firms acting in or from the UK are prohibited from selling, marketing or distributing binary options to retail consumers.
PIMFA, the trade association for investment managers and financial advisers, has called on the FCA to postpone implementation of revised FOS compensation limits.