The FCA has published the results of its multi-firm review of principal trading firms’ compliance with MiFID Regulatory Technical Standards 6, which imposes requirements on investment firms engaged in algorithmic...
Category - Investments
Laura WilesRegulators make changes to EMIR trade repository reporting
The Bank of England has finalised changes to the UK EMIR Trade Repository reporting requirements, which take effect from 26 January 2026. Meanwhile the FCA is consulting on new Q&As relating to counterparty...
Michael LewisFCA creates wholesale banks webpage
The FCA has created a new page on its website to bring together the results of its various workstreams involving wholesale banks. The page contains the output from its reviews on: conflicts of interest in share buybacks...
Emma RadmoreFCA reviews transaction governance in wholesale banks
The FCA has carried out a review of transaction governance in 6 wholesale banks, seeing to check that firms have a clear framework and governance process for considering risks from transactions. It asked each bank to...
FCA review shows firms continue to see “off-channel” breaches
The FCA has carried out a review on how firms approach communications that take place outside of monitored and recorded channels. It carried out the review specifically with wholesale banks and other firms within scope...
FCA fines Woodford and former director £46m for management failures
The FCA has issued fines totalling almost £46m to Woodford Investment Management (WIM) and its former director and investment manager, Neil Woodford, for failures in their management of the Woodford Equity Income Fund...
FCA fines Sigma Broking £1.1m for transaction reporting failures
The FCA has fined Sigma Broking Limited £1.1m for transaction reporting failures. In January 2024, Sigma informed the FCA that it had submitted approximately 984,000 incorrect reports. Following independent review, it...
Regulators identify 5 live “wider implications” issues
The latest log of wider implications issues that potentially affect large numbers of consumers, where there could be significant redress or where there is a risk of business failure identifies 5 recent, new and ongoing...
FCA revokes ban after Supreme Court IBOR ruling
Following the Supreme Court ruling that quashed the convictions of Carlo Palombo and Tom Hayes the FCA has revoked Mr Palombo’s ban and ending its action against Mr Hayes, which he had referred to the Upper...
FCA announces more firm failures
The FCA has announced that two more firms have failed: Argentex LLP, authorised to provide e-money and payment services and also wealth management, went into special administration under the Payment and EMI Insolvency...
Market Watch focuses on transaction reporting
The latest edition of Market Watch looks at recent FCA experience from supervising the UK MiFID transaction reporting regime. It is disappointed that it sees “persistent inefficiencies” from firms who have...
FCA and ICO set out thoughts on Open Finance and Smart Data
The Digital Regulation Cooperation Forum has published the joint views of the FCA and the ICO on the technologies that are shaping Open Finance and the regulatory questions stemming from its development. APIs are likely to remain key to Open Finance and Smart Data as they facilitate real time, secure and trusted data exchange. So common standards and strong interoperability across sectors and providers will be essential. Another key driver could be AI which has the potential to carry out many key chores including automating data cleaning and preparation, enhance fraud detection, assess creditworthiness, deliver advice and recommendations and help consumers to open accounts and switch products.� However, with that comes risks, not least addressing questions around automated decision-making, transparency and explainability.
There is also the potential for DLT and smart contracts to play a role, which could, for example, automate administrative tasks, improve data integrity and security and track the flow of data for easier auditing. But, again, there are risks, such as it being potentially difficult to revoke access to or correct data, and it may be unclear who is responsible if things go wrong.
More generally, the key regulatory issues are:
balancing evolution of technology with fostering trust in new products and services and delivering good outcomes for consumers;
organisations ensuring they consider which lawful basis for processing data is most appropriate to enable the required data sharing;
what effective data minimisation would look like;
achieving transparency and consumer understanding when AI is used;
the role of regulators; and
embedding trust.
Mansion House speech supports Leeds Reforms
The Chancellor’s Mansion House speech, delivered in the evening of 15 July, highlighted many of the Leeds reforms, and set out the Chancellor’s key priorities. She highlighted: for capital raising, recent changes to the...
FCA confirms cuts in costs of capital raising
The FCA has confirmed its proposals to make it cheaper for companies to raise money. The confirmed changes include:
in most cases, companies will not have to publish a prospectus when raising further capital (the threshold is raised to 75% of existing share capital, from the current 20%);
IPOs that include the wider public can come to market 3 days after the prospectus is published (currently 6 days);
a single disclosure standard for corporate bond prospectuses; and
new platforms for public offers run by authorised firms to make it easier for companies to make offers of shares or bonds above �5m without a lengthy prospectus – essentially crowdfunding platforms but for larger deals.
Generally the changes will take effect on 19 January 2026.
Government publishes policy on targeted support
The Government has confirmed its policy on the new proposals already published by the FCA on offering targeted support. In support of the FCA’s proposals, HM Treasury has published a draft statutory instrument...
Government publishes plans to apply FSMA style regulation to the CRR
HM Treasury is progressing its work to apply the FSMA model to the assimilated laws for banks, building societies and investment firms. It has published a policy paper confirming its approach to implementing Basel 3.1...
Government announces “Leeds reforms”
After the Edinburgh reforms, we now have the Leeds reforms! The Government has announced an ambitious package of measures to attract inward investment into the UK and financial services businesses. Rachel Reeves announced the UK’s first Financial Services Growth and Competitiveness sector plan. The plans include:
giving consumers support to invest;
create good skilled jobs;
encouraging banks to offer investment opportunities to people with cash in low-interest accounts;
encouraging the industry to highlight to consumers the opportunity to invest when they can – the Government says that, based on current trends, if consumers move �2,000 from low interest accounts into stocks and shares, they could be over �9,000 better off in 20 years’ time;
the BoE will allow more lending at over 4.5 times a buyer’s income and simplified FCA Rules, if adopted, will make remortgaging easier. The changes will also allow the Nationwide to make its “Helping Hands” scheme available to lower income borrowers – now the thresholds are �30,000 for solo and �50,000 for joint applicants (�5,000 lower than previously);
there will be a new government-backed Mortgage Guarantee Scheme to ensure high loan-to-value mortgages are available in times of economic uncertainty;
FOS will need to align its decisions more closely with FCA rules;
the SMCR will be radically streamlined;
the FCA is to review how the Consumer Duty affects and applies to wholesale firms;
the MREL threshold will be raised to �25-49bn;
the Basel 3.1 rules will come in from January 2027;
reform of the ring-fencing regime;
a major FPC review of bank capital requirements;
providing bespoke support to fintechs;
greater financial capacity for the British Business Bank; and
progressing the Berne Financial Services Agreement, so that it is fully implemented by the end of the year.
See our separate posts on some of these initiatives!
PISCES: Will the stars align for private investment?
We’ve published a new article exploring the recently launched Private Intermittent Securities and Capital Exchange System (PISCES) platform. In this article, we examine: What PISCES is Who is responsible for...
Ella MarshFCA to review client categorisation rules
The FCA says it is planning to consult on reform of the investment client categorisation rules to allow firms to act more proportionately when dealing with wealthy or sophisticated investors. The paper, on reform of the...
FCA consults on SI regime for bonds and derivatives
The FCA is consulting on the future of the SI regime for bonds and derivatives in light to the removal of pre-trade transparency from their obligations. It wants to put new rules in place at the end of the year so it...
FCA and Treasury consult on ancillary activities exemption
HM Treasury is consulting on changes to the current UK secondary legislation setting the tests that firms must meet to use the “ancillary activities” exemption when they trade in commodity derivatives and emissions allowances.� As part of the Wholesale Markets Review, it said it would replace the current test with a new, simpler, version. It is now legislating to give the FCA powers to put in place a replacement test. The Order would amend the RAO and other statutory instruments in respect of the definition of “investment firm” and will provide that firms can use the exemption where the relevant business is ancillary to its main business, or is below an annual threshold that the FCA will set.
The FCA is in turn consulting on its proposals to set out, simply, how firms can work out whether they can benefit from the exemption. It proposes 3 separate and independent tests, and a firm will be able to use the exemption if it meets any one of them. It hopes the proposals will have the advantage of simplicity while having minimal impact on costs for firms, given the methods they already use to calculate the application of the exemption under the current regime.
Comments on both the draft legislation and the FCA consultation are due by 28 August. The changes will take effect from 1 January 2027.
Tribunal upholds bans
The Upper Tribunal has upheld the FCA’s decision to fine and ban 3 individuals who engaged in market manipulation while working at Mizuho International PLC.
FCA publishes targeted support proposals for investments and pensions
The FCA is consulting on how to provide targeted support to consumers in pensions and retail investments. The paper follows several announcements of the FCA’s desire to see people invest with more confidence in...
FCA launches investment advice assessment tool
The FCA has published a new Investment Advice Assessment Tool to help firms understand how it assesses suitability of investment advice and customer disclosures. The tool does not apply to retirement income or defined...
Practitioner Panel expresses concerns over CCI proposals
The FCA Practitioner Panel has expressed concerns around the FCA’s proposals on Consumer Composite Investments, following the regulator’s consultation covering changes to cost information and rules for the...
FCA finalises PISCES sandbox arrangements
The FCA has made the final rules that will allow the new PISCES system to start operating through a sandbox. The sandbox is open from 10 June, and shares are likely to start being traded later this year, with the FCA looking to move to a permanent regime by 2030.
As a reminder, institutional investors, HNWIs, sophisticated investors and employees of participating companies will� have access to PISCES, and the legislative framework, confirmed by HM Treasury in May, will require that they receive information on the risks involved in making investments.
The FCA has now published its policy and guidance for firms wanting to run a PISCES platform.� Its new rules will include obligations on operators for disclosure arrangements, organising and running trading events and market manipulation and oversight, and are in a new sourcebook, the Pisces Sourcebook (PS). The sourcebook also sets out the process for application, and how the FCA will decide on applications.
FCA consults on removing more returns and lifting ban on retail crypto ETN sales
FCA’s latest quarterly consultation proposes to: further streamline regulatory returns: it plans to: remove the GI pricing attestation and retail investment advisor complaints forms; reduce the frequency for...
New FCA webpage for PISCES sandbox applications
A new page on the FCA website gives information about the sandbox the FCA will be running until June 2030 to test the PISCES regulatory framework. Would-be operators will be able to apply to join it in June, once the...
FCA apologises over mini-bond firms
The FCA has apologised to investors in 2 firms that issued mini-bonds. Basset & Gold plc and Basset & Gold Ltd were appointed representatives of three regulated firms and went out of business in 2022 and 2021...
FCA speaks on rebalancing risk
Dominic Holland, director of market oversight at the FCA, has spoken on how the FCA is working to rebalance risk to spur growth, but not at the expense of consumer protection. His speech, to corporate treasurers...
FCA stops wealth manager from carrying on any regulated activities
The FCA has imposed restrictions on Strowz Ltd, a wealth management firm. It found the firm was handling client money without adequate systems and controls to ensure it was segregated from the firm’s money, and...
Government makes PISCES legislation
The Government has laid the Financial Services and Markets Act 2023 (Private Intermittent Securities and Capital Exchange System Sandbox) Regulations 2025, the Regulations which set the legal framework for PISCES. This...
FCA pleased with small asset management firm compliance
The FCA has published the results of its review into smaller asset management and alternatives businesses, as part of its drive to establish which business models pose the most risks of harm to consumers. It has found...
FCA publishes latest Handbook Notice
The FCA has published its latest Handbook Notice, which confirms updates relating to its new rules on the derivatives trading obligation (DTO) and post-trade risk reduction services. The FCA has made updates to the...
FCA pauses extension of SDR regime to portfolio managers
Per its announcement in February 2025, the FCA has confirmed that it will not be publishing a policy statement on plans to extend the Sustainability Disclosure Requirements (SDR) and investment labels regime to...
BoE sets out key elements of its 2025 CCP stress test
The BoE has set out key elements of its 2025 stress test of UK central counterparties (CCPs), and published a spreadsheet containing risk factor shocks for each market stress scenario. This year’s test will focus...
FCA consults on investment firm capital simplification
The FCA is consulting on plans to simplify its rules on the amount of capital investment firms need. It is not planning to change the fundamental requirement, but things it can reduce the volume of legal text that sets...
FCA consults on CCI and simplification of investor disclosures
The FCA is consulting on ways to simplify investor disclosures relating to Consumer Composite Investments. It says nearly a quarter of UK adults hold a product which comes within the UK’s new concept of a CCI...
FCA updates Regulatory Initiatives Grid
The updated Regulatory Initiatives Grid highlights many initiatives for various regulators relevant to the financial markets, including: during 2025: further action plan on FCA requirements in light of Consumer Duty...
Treasury and FCA hold perimeter meeting
HM Treasury and the FCA have held their fourth annual meeting on issues relating to the regulatory perimeter. The meeting noted the government’s strong commitment to the FCA’s secondary competitiveness and...
FCA publishes multi-firm review of trading apps
The FCA has published a multi-firm review assessing the business models, products and services of trading app firms. The review aims to support new firms and traditional investment brokers seeking to offer such...
FCA finishes consumer investment policy sprint
The FCA has concluded a 6-week policy sprint on new ways to assist consumers in making important investment decisions. The initiative is part of the FCA’s work on targeted support and bridging the gap between...
FCA publishes work programme 2025-6
The FCA has published its work programme for 2025-26, which builds on the 4 priority areas in its 5 year plan. Specific initiatives additional to those set out in the 5 year plan (which we summarised in this article)...
FCA publishes final rules on derivatives trading obligation
The FCA has published a policy statement on the derivates trading obligation (DTO) and post-trade risk reduction services. The policy statement includes the FCA’s final rules on the classes of secured overnight...
AFME updates MiFIR and MiFID implementation guide
The Association for Financial Markets in Europe (AFME) has updated its implementation guide for firms operating in secondary capital markets to take account of MiFIR and MiFID II reforms in the UK and EU. The guide...
FCA speaks on investment culture and pensions savings
Nikhil Rathi has spoken on how to build a healthier investment culture in a world where consumers need more from their pensions but significant immediate investment is not possible. He focussed on the need for...
PRA and FCA consult on margin requirements
The PRA and FCA are consulting on a proposal that would indefinitely extend the current temporary exemption for single-stock equity options and index options from the UK bilateral margining requirements. The current...
The IA says CCIs must learn the lessons from PRIIPs
The IA’s response to the FCA’s consultation on the new product information framework for Consumer Composite Investments says it is crucial that the new framework genuinely results in a better information set...
Treasury publishes MiFID Org Reg reform draft
HM Treasury has published a near-final version of legislation to reform the MiFID Organisation Regulation. The policy note accompanying the draft explains that: Treasury needs, in law, to restate elements of the...
FCA sets out findings from IFPR liquidity risk management review
The FCA has set out findings from its multi-firm review of liquidity risk management at wholesale trading (sell-side) firms, particularly brokers, in scope of the Investment Firms Prudential Regime (IFPR). The review...
FCA invites applications for bond consolidated tape provider
The FCA is inviting applicants for a bond consolidated tape provider. The UK bond consolidated tape will collate data such as price and volume of transactions, combining information on trades executed on trading venues...
FCA reports on private market valuation processes
The FCA has published the results of its review of private market valuation processes. It is imperative that firms in these markets have robust processes given that the regular price discovery present in more liquid...
FCA discusses approach to non-bank leverage and importance of data
Sarah Pritchard of the FCA has spoken to the Investment Association Roundtable event. She looked at the FCA’s approach to non-bank leverage. She focussed on how targeted improvements to public and private...
FCA sets out asset management and alternatives supervisory priorities
The FCA has published its portfolio supervision letter sent to the asset management and alternatives sector. It notes five priority areas: supporting confident investing in private markets: the FCA sees increasing...
CMA reaches settlement with banks over gilt information
The CMA has reached settlement with 5 banks in relation to exchanges of information by traders on buying and selling gilts on specific dates. Individual traders shared competitively sensitive information in one-to-one...
FCA pleased with firm conduct on ongoing advice
The FCA has published the results of a survey of 22 firms, in which it checked whether firms that are charging their clients for ongoing advice and relating services are meeting their regulatory obligations and had been...
FCA publishes skilled persons data for Q2 / Q3 2024
In the quarter ending September 2024, the FCA commissioned 14 skilled persons reports: 6 reports related to consumer investments, 2 to insurance, 2 to wholesale markets (buy-side) and 4 to wholesale markets (sell-side);...
FCA delays “polluter pays” decisions
The FCA is still considering the feedback to its consultation on requiring firms to set aside capital resources for potential redress liabilities. While it is continuing to carry out increased monitoring of firms and...
FCA delays decision on SDR extension
The FCA has confirmed that it will no longer imminently be publishing its feedback statement on the proposed extension of the SDR and investment labels regime to portfolio management. The FCA is aware that fund managers...
FCA reforms commodity derivatives framework
The FCA has published a policy statement on reforms to the regulatory framework for commodity derivatives. The 2023 consultation covered key pillars of the regime, including position limits and related exemptions...
FCA proposes changes to listing and public offer rules
The FCA has issued two consultation papers proposing changes to the listing and public offer rules. The first paper sets out changes intended to align disclosure requirements for low denomination bonds with those for...
Stephen WilsonFCA publishes Handbook Notice on collective investment schemes sourcebook updates
The FCA has published a Handbook Notice describing changes to COLL as set out in the Collective Investment Schemes Sourcebook (Concentration Limits) Instrument 2025, which came into force 31 January 2025. Following a...
FCA fines for MiFIR transaction reporting failures
The FCA has imposed its first fine for failing to report transactions as required by MiFIR. Infinox Capital Limited failed to submit transaction reports for single stock CFD trades executed through one of its corporate...
PRA speaks on prime brokerage developments
Rebecca Jackson of the PRA spoke to UK Finance about recent dynamics in the prime brokerage sector, and the results of a recent PRA thematic review. Key points included: that the core of prime brokerage is financing...
FCA outlines wholesale broker supervision strategy
The FCA has published a Dear CEO letter to wholesale brokers, setting out its new supervision strategy for firms. In the last 2 years, the FCA has engaged with firms on issues including risk management, financial crime...
FCA highlights simplification as means of supporting growth
The FCA’s letter in response to the Prime Minister setting out how the FCA wants to collaborate with the Government to encourage growth highlights the work the FCA has already done in the wholesale markets to...
AIC writes to FCA about Saba investment trust action
The Association of Investment Companies has written to the FCA to express concerns about US activist investor Saba Capital Management’s requisition of general meetings at 7 investment trusts. The AIC is concerned...
ASA upholds complaint against investment training programme
The ASA has upheld a complaint against Zimran Ltd t/a Prosperi Academy. Prosperi Academy is an app offering financial investment training courses. The ad showed an individual’s bank account balance increasing in...
Designated Activities enforcement Regs take effect
The Regulations amending FSMA to give the FCA necessary supervision and enforcement powers in respect of the new Designated Activities have been made and take effect on 14 January. The new powers apply in respect of the...
Court refuses JR application on mis-advised SIPP investment
The High Court has refused an application for judicial review of the FSCS’s refusal to reconsider a compensation determination in respect of three investors who lost money after transferring funds from their...
FCA sets out updates to the National Storage Mechanism
Following a consultation, the FCA has set out its enhancements to the National Storage Mechanism (NSM). The changes will introduce more comprehensive metadata requirements to improve functionality, making it easier for...
FCA consults on CCI framework
The FCA is consulting on how it plans to build the new UK regulatory framework for Consumer Composite Investments, brought in to replace the EU PRIIPs concept. As we’ve previously reported, legislation creates a...
FCA charges former WealthTek partner
The FCA has brought criminal charges against John Dance, the principal partner at WealthTek LLP, in relation to 9 criminal offences, including multiple counts of fraud and money laundering. WealthTek, then known as...
FCA looks to appoint bond consolidated tape provider
The FCA is starting a tender process to appoint a bond consolidated tape provider. It will publish all tender documents by the end of January, and invite bidders to ask questions before it issues the final tender...
Treasury makes Singapore equivalence decision
The Markets in Financial Instruments (Equivalence) (Singapore) Regulations 2024 take effect on 31 December 2024 and designates a list of 18 Singaporean trading venues as equivalent to the UK in terms of regulatory...
FCA updates derivatives trading obligation
The FCA has updated its direction relating to the Derivatives Trading Obligation (DTO) with effect from the end of 2024. The DTO came from MiFID, and the FCA is now modifying the UK’s DTO from the transitional...
FCA consults on MiFID Org Reg transfer to Handbook
The FCA is consulting on how it plans to transfer the firm-facing requirements of the MiFID Org Reg into its Handbook. It doesn’t intend to change the policy behind the Regulation, but some of the provisions will...
PRIIPs disclosure change confirmed
The Regulations that take investment trusts outside the scope of the current PRIIPs disclosure requirement (current until the PRIIPs regime is repealed in favour of the new Consumer Composite Investment regime) have...
Tribunal disagrees with FCA on fine amount
The FCA had found Arian Financial LLP had breached Principles 2 and 3 in respect of failings in its financial crime prevention systems and controls in relation to business introduced by the now infamous “Solo...
Government makes Consumer Composite Investment Regulations
The Regulations to create the Consumer Composite Investments regime, and set the designated activities relating to them have been made effective from 22 November 2024 for the purposes of setting out the regime and...
FCA updates market cleanliness measures
The FCA has revised its methodology for its market cleanliness statistic, to make it more accurate. Going forwards it will be able to detect abnormal price movements that happen on the same day as an announcement, use a...
FCA reacts to Mansion House speech
The FCA has reacted to several announcements from the Mansion House speech. It has reiterated that it is committed to supporting growth and says it has fully embraced its secondary international competitiveness and...
Treasury and FCA set out next steps for MiFID
HM Treasury has set out its plans for changes to the assimilated MiFID regime, to make changes to the wholesale markets framework. Its immediate plans are: to ensure the FCA has the necessary tools to oversee off...
FCA updates on Advice Guidance Boundary review
Following the Mansion House speech, the FCA has updated on the next steps in its Advice Guidance Boundary Review. It is going to focus first on pensions, and will consult in December on high-level proposals for targeted...
FRC consults on Stewardship Code updates
The FRC is consulting on significant updates to the Stewardship Code, with a view to streamlining reporting requirements while ensuring a clearer focus on the purpose of Stewardship and delivering increased transparency...
Treasury publishes draft Designated Activities supervision regulations
The Treasury has published draft Regulations to give the FCA supervisory and enforcement powers over certain activities which are to become Designated Activities for the purposes of FSMA following the changes introduced...
Market Watch looks at MiFID transaction reporting
The latest edition of Market Watch focuses on FCA’s supervision of the UK MiFID transaction reporting requirements, including the findings from skilled persons reviews commissions to look into compliance. On the...
FCA makes market rules to support growth
A new set of transparency rules for bond and derivatives trades will take effect on 1 December 2025. The FCA says the rules will both provide more information to investors and also reduce costs for firms, and will also...
FCA portfolio letter for SIPP operators
The latest in the current series of FCA portfolio supervision letters is aimed at the CEOs of SIPP operators. The FCA has recently completed its 2024 SIPP data request and will be using the information from it in its...
FCA publishes SDR and investment labels disclosure examples
The FCA has published examples across a section of investment labels to demonstrate how firms might meet disclosure requirements under the Sustainability Disclosure Requirements (SDR) and investment labels regime, which...
FCA speaks on private market growth.. and motor finance
Nikhil Rathi, speaking at the Investment Association, spoke of the growth of private markets and the FCA’s support for initiatives that get companies the best options for financing. In an interesting segue, he...
FCA speaks on vulnerability in the wealth management sector
Graeme Reynolds, director of competition at the FCA, delivered a speech on competition and vulnerability at the Personal Investment Management & Financial Advice Association’s (PIMFA) Wealth Vulnerability...
FCA restricts ISA Manager business over platform failings
The FCA has placed restrictions on Business Agent Limited in respect of failings related to its “Nextcrowd” platform. As a result the form can no longer act as an ISA manager. The FCA’s concerns...
FCA updates regulatory initiatives grid
The FCA has published an interim update on its Regulatory Initiatives Grid. It had postponed the scheduled 8th edition because of the election and says that the replanning required as a result means that there...
Treasury publishes draft PRIIPs replacement regulations
The draft Consumer Composite Investments (Designated Activities) Regulations 2024 have been published. The Regulations will repeal all assimilated law relating to PRIIPs and create a UK regime of “consumer...
FCA speaks on supervisory strategy
Nick Hulme, head of the FCA’s advisers, wealth and pensions, consumer investments department, has spoken on the FCA’s tweaked supervisory focus. He said the FCA continues to focus on good client outcomes and...
Market Watch focuses on SYSC 6 and UBOs
The latest edition of Market Watch looks at how firms can ensure compliance with SYSC 6.1.1R when dealing for overseas clients who operate aggregated accounts that provide no visibility of the UBOs. Firms will often...
Treasury publishes draft PRIIPs disclosure amendment Regulations
Treasury has published a draft Statutory Instrument that will take investment trusts that are UK listed outside the scope of PRIIPs disclosure requirements. Once the Regulation is made, Treasury wants it to take effect...
FCA speaks on “predictable volatility”
Nikhil Rathi has spoken on the volatility of capital markets and on how one small “blip” can have a significant ripple effect. He noted how things that used only to happen rarely now happen more frequently...
FCA sets out financial adviser expectations
The FCA’s latest portfolio supervision letter to financial advisers and investment intermediaries sets out where it sees the most potential harms that the sector could generate and its expectations on firms...