On January 8, the UK’s Financial Conduct Authority (FCA) updated its webpage providing information for firms relating to COVID-19 (the Webpage).
The Webpage notes that the FCA’s key considerations include:
Continue Reading FCA Updates COVID-19 Webpage With Guidance on Market Trading and Reporting
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 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
On May 27, the UK’s Financial Conduct Authority (FCA) published issue 63 of its Market Watch newsletter in relation to market conduct and transaction reporting issues (the Newsletter).
In the Newsletter, the FCA sets out its expectations around the identification and handling of inside information in light of increased capital raisings and working from home arrangements as a result of the COVID-19 pandemic. The FCA notes that market participants should continue to comply with their obligations under the relevant regulations, including the Market Abuse Regulation. In particular, market participants should:
Continue Reading FCA Publishes Market Watch Newsletter
On October 18, the Financial Conduct Authority (FCA) published issue 62 of the Market Watch newsletter. The focus of the newsletter is on personal account dealing (PAD) and transaction reporting.
PAD is meant to be tightly controlled in order for firms to ‘minimize the risk’ of conflicts and market abuse. The newsletter states, ‘We are concerned how often we are seeing apparent breaches of PAD policies and the issues which have come to light as a result.’
Continue Reading FCA Publishes Market Watch Newsletter
On April 23, the UK Financial Conduct Authority (FCA) published a report on payment for order flow (PFOF).
The report provides an update on the FCA’s supervisory work on conflicts of interest and PFOF, and it follows the FCA’s preliminary findings that were published in issue 56 of its Market Watch newsletter (as reported in the September 28, 2018 edition of Corporate & Financial Weekly Digest).
Continue Reading FCA Publishes Report on Payment for Order Flow
On April 17, the UK Financial Conduct Authority (FCA) published issue 59 of its Market Watch newsletter. In this issue, the FCA details its findings on the implementation of the revised Markets in Financial Instruments Directive (MiFID II) and the Market Abuse Regulation (MAR).
Continue Reading FCA Publishes Market Watch Newsletter on Transaction Reporting Issues and Market Conduct
On September 24, the UK Financial Conduct Authority (FCA) published Issue 56 of Market Watch, its newsletter on market conduct and transaction reporting issues.
Issue 56 contains articles that provide a useful reminder in relation to obligations in relation to market abuse surveillance and payment for order flow (PFOF).
Continue Reading Issue 56 of the FCA’s Market Watch Newsletter Covers Market Abuse Surveillance and PFOF
On December 12, the UK Financial Conduct Authority (FCA) published issue 55 of Market Watch, its newsletter on market conduct and transaction reporting issues.
Similar to Issue 54 of Market Watch (reported in the Corporate & Financial Weekly Digest edition of November 10, 2017), Issue 55 contains articles of relevance to the implementation of the revised Markets in Financial Instruments Directive (MiFID II) and Markets in Financial Instruments Regulation (MiFIR). The articles provide a useful reminder of the following areas in the lead up to the implementation of MiFID II and MiFIR on January 3, 2018:
Continue Reading FCA Publishes Issue 55 of Market Watch Newsletter
On December 13, the UK Financial Conduct Authority (FCA) published a “Dear CEO” letter expressing its concerns over the practice of brokers demanding payments from counterparties in exchange for conducting client business with them, also known as payment for order flow (PFOF). The letter follows the FCA’s September 2016 update, published in their Market Watch newsletter, which reiterated the requirement of firms to continue to meet their obligation with regards to conflicts of interest management in the FCA’s Systems and Controls Handbook Rules (SYSC) (for further information, please see the Corporate & Financial Weekly Digest of September 30, 2016).
Continue Reading FCA Publishes “Dear CEO” Letter on Payment for Order Flow
