This category contains 6 posts

Covid 19 updates – delays and notices

It comes as no surprise that there have been many announcements relating to the impact of Covid 19 since our last update here. These include: Temporary changes and a “softening” of the UK Senior Managers and Certifications Regime(SM&CR), as announced by the FCA here and discussed on the FT Advisory site here. An extension to … Continue reading

SMCR starts today for many

From today, the Senior Managers and Certification Regime (SM&CR) will start for many firms in the UK. The SM&CR applies to those regulated by the FCA, and includes those in energy and commodities who have the appropriate Investment Firm status and were subject to the “Approved Persons Regime”. SM&CR already applies to banks and large … Continue reading

Algorithmic trading – FCA report and more

The UK’s Financial Conduct Authority (FCA) yesterday issued this report on “Algorithmic Trading Compliance in Wholesale markets. It reviews the requirements of MiFID II, MAR and local legislation for those companies engaging in algorithmic trading in covered instruments. The document reminds the market that any company which engages in “algorithmic trading” in financial instruments is … Continue reading

2018 begins – what does it have in store?

The 2018 working year starts today for most, which provides a good opportunity to consider the months ahead. Start of year The end of 2017 has been unsurprisingly busy, with several pieces of news posted since our “end of year” entry.  In addition to today being the first day on which Swiss “FC-” and “NFC+” … Continue reading

FCA cancels authorisations

The UK’s Financial Conduct Authority (FCA) has issued its latest “Regulation Round Up” (see here). The document discusses enforcements against authorised firms who have not complied with all of the requirements. It mentions that over 200 authorisations have been cancelled this year. This issue is also refereed to in this article on the FT web … Continue reading

Senior Managers Regime to be extended

The UK’s Financial Conduct Authority has announced a plan to extend the existing Senior Managers and Certification Regime to more firms, and also to extend the rules within the regulation. The rules will now apply to most firms who are under financial regulation. The rules themselves will be extended in three categories: Conduct rules – … Continue reading