On September 7, the UK’s Financial Conduct Authority (FCA) published the 65th edition of its Market Watch newsletter on market conduct and transaction reporting issues (the Newsletter). The latest issue provides market participants with guidance on (1) FCA information confidentiality requirements; (2) documents subject to legal professional privilege (LPP); and (3) highlighting certain data issues when transaction reporting under the Markets in Financial Instruments Regulation (EU) No 600/2014 (MiFIR).
Continue Reading FCA Publishes Newsletter Market Watch 65

On August 24, the UK’s Financial Conduct Authority (FCA) published a consultation paper on extending its annual financial crime reporting obligation (REP-CRIM) to a wider range of FCA-regulated firms in the UK (the Consultation Paper).

REP-CRIM aims to identify indicators where there is a potential money laundering risk posed by a regulated firm, based on its regulated activities and customers.
Continue Reading FCA Publishes Consultation Paper on Extending Annual Financial Crime Reporting Obligation

On August 27, the UK’s Financial Conduct Authority (FCA) published the 64th edition of its Market Watch newsletter on market conduct and transaction reporting issues (the Newsletter) providing market participants with advice on the transition from the revised Markets in Financial Instruments Directive (MiFID II) transaction reporting requirements to UK-specific requirements applicable from the end of the Brexit transition period (i.e., once the UK has ceased being subject to EU rules).
Continue Reading FCA Publishes Newsletter on Market Conduct and Transaction Reporting Issues

Katten’s London affiliate office launched its weekly fireside chat on May 5 and each week has covered a wide range of interesting UK and EU financial services regulatory topics. We have received some fantastic feedback from clients on the podcast sessions and now present three key trends that firms should continue to consider in Q3

On August 13, the UK’s Financial Conduct Authority (FCA) published a new webpage on conduct rules reporting for FCA solo-regulated firms under the Senior Managers and Certification Regime (SM&CR).

The annual reporting obligation under the SM&CR, using the FCA’s Form REP0008 (filed online using the FCA’s Gabriel portal), requires FCA solo-regulated firms to inform the FCA if disciplinary action has been taken against individuals who are not Senior Managers (i.e., not just certified staff) for breaches of the FCA Conduct Rules. 
Continue Reading SM&CR: Disciplinary Action and Conduct Rules Reporting for Staff at FCA-Regulated Firms

On August 12, the UK’s Financial Conduct Authority (FCA) published a “Dear CEO Letter” (the Letter) for firms providing non-discretionary investment services that are experiencing an increase in levels of client money held in their accounts.
Continue Reading COVID-19: FCA Publishes Dear CEO Letter on Increased Client Money Balances

On July 31, the UK’s Financial Conduct Authority (FCA) updated its statement on how firms should handle complaints during the COVID-19 pandemic — indicating to the market in the process that the time for regulatory forbearance as a result of the pandemic is effectively over.
Continue Reading COVID-19: FCA Statement on Handling Complaints

On July 27, the UK’s Financial Conduct Authority (FCA) launched its enhanced Financial Services Register (the Register) and published an accompanying statement.

The new Register aims to further protect consumers by making it easier for users to navigate and understand the information provided.
Continue Reading FCA Launches Enhanced Financial Services Register