Latest Market News
Since March 2020 we have adopted temporary measures on the requirement for firms to issue 10% depreciation notifications to investors (COBS 16A.4.3 UK). The measures were put in place initially to help firms support consumers during market volatility linked to Covid-19 and the Brexit transitional period. We said we would show supervisory flexibility to firms’ ongoing compliance with the requirement so […]
Home News Statement on supervision of commodity derivatives position limits Statements First published: 20/12/2021 Last updated: 20/12/2021 In December 2020, we published a Supervisory Statement setting out our approach to operating the MiFID markets regime after the end of the EU withdrawal transition period. This approach included a change to our supervisory and enforcement actions for commodity derivative position limits in the light of evidence […]
The FCA has fined HSBC Bank plc (HSBC) £63,946,800 for failings in its anti-money laundering processes. HSBC used automated processes to monitor hundreds of millions of transactions a month to identify possible financial crime. However, the FCA found that three key parts of HSBC’s transaction monitoring systems showed serious weaknesses over a period of eight […]
Home News FCA’s new rules on climate-related disclosures to help investors, clients and consumers News stories First published: 17/12/2021 Last updated: 17/12/2021 The FCA has published two Policy Statements confirming final rules and guidance to promote better climate-related financial disclosures. Better corporate disclosures will help inform market pricing and support business, risk and capital allocation […]
The Financial Conduct Authority (FCA) has fined GAM International Management Limited £9.1m and Timothy Haywood £230,037 for conflicts of interest and gifts & entertainment matters. Both the Firm and Mr Haywood agreed to resolve all issue of fact and liability and so they qualified for a 30% discount. The financial penalties would have been £13m […]
The FCA has issued a Decision Notice to Finablr plc refusing the company’s application for cancellation of its premium listing with reference to LR 5.2.7R. This rule allows for cancellation without a shareholder vote if certain conditions are met. Premium-listed issuers ordinarily require shareholder approval (according to LR 5.2.5R) to cancel the listing of its […]