Tag:FCA

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Europe: Final SDR rules published by FCA – Time to label your funds (maybe)
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Europe: UK’s FCA Challenges Firms to Improve Sanction Screening Processes
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Europe: Significant Changes Proposed to Market Abuse Regulation in the UK
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Europe: Here’s Your Chance to Improve the UK’s Senior Managers and Certification Regime
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Europe: UK’s FCA Issues Stern Warning to ESG Benchmark Administrators for Lack of Rigour
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Europe:  FCA Sets Ambitious Goal to Improve Asset Management Regulation in the UK

Europe: Final SDR rules published by FCA – Time to label your funds (maybe)

The FCA has published its final rules on the UK’s Sustainability Disclosure Requirements (SDR) regime. The key features include:

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Europe: UK’s FCA Challenges Firms to Improve Sanction Screening Processes

By: Joseph Skilton, Michael Ruck, Rosie Naylor

The FCA has assessed and reported on the sanctions controls of over 90 financial service firms from a range of sectors including wealth management.

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Europe: Significant Changes Proposed to Market Abuse Regulation in the UK

By Michael Ruck and Aurelija Grubytė

HM Treasury and the FCA have completed their joint review of the criminal market abuse regime, and published a joint statement on 24 March 2023. Their observations are relevant to both the criminal and civil market abuse regimes in the UK.  Most notably:

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Europe: Here’s Your Chance to Improve the UK’s Senior Managers and Certification Regime

By Samuel Gordon

The FCA, PRA and UK Government are looking for feedback by 1 June 2023 to guide potential changes to the Senior Managers and Certification Regime (SMCR), the UK’s regime designed to improve individual accountability and conduct standards of (mostly) senior personnel in financial services firms. To this end, the FCA and PRA jointly published a discussion paper on 30 March and HM Treasury published a call for evidence.

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Europe: UK’s FCA Issues Stern Warning to ESG Benchmark Administrators for Lack of Rigour

By Zainab Kuku

The FCA did not hold back in its most recent comments to ESG benchmark administrators, in an indication of its increasingly adversarial approach to ‘greenwashing’. It described the quality of disclosures of ESG factors considered in benchmark methodologies as ‘poor’, and aimed clear warning shots at administrators who fail to comply with the FCA’s feedback. 

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Europe:  FCA Sets Ambitious Goal to Improve Asset Management Regulation in the UK

By Robert Lloyd, Maya Ffrench-Adam and Philip Morgan

On 20 February 2023, the FCA published a discussion paper (DP23/2) on improving the UK asset management regime.  Key themes include:

Alignment with Relevant International Standards 

The FCA does not want to create unnecessary complexity for firms operating in multiple jurisdictions. It aims to develop the regime to interact effectively with international requirements, while promoting the international competitiveness of the UK economy.

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