Tag: Statements
We are reminding all regulated firms of their existing obligations when they are interacting with or exposed to cryptoassets and related services. While cryptoassets and their underlying technologies can offer benefits to financial services firms e.g., reduce costs and increase efficiencies, they also present risks to market integrity and consumers, particularly when used as a […]
We are reminding all regulated firms of their existing obligations when they are interacting with or exposed to cryptoassets and related services. While cryptoassets and their underlying technologies can offer benefits to financial services firms e.g., reduce costs and increase efficiencies, they also present risks to market integrity and consumers, particularly when used as a […]
The FCA has begun discussions with stakeholders about options to allow UK authorised retail funds to make exceptional use of ‘side pockets’ given the significant practical challenges in disposing of Russian and Belarusian assets in the context of suspensions and extensive global sanctions. Side pockets would potentially give authorised fund managers the option to separate […]
The MiFID II Article 2(1)(j) ancillary activities exemption enables firms trading in commodity derivatives, emission allowances and emission allowance derivatives to be exempt from authorisation as a MiFID investment firm if they fulfil certain criteria. As part of verifying that they fulfil these criteria, firms are currently required to perform the ‘market share test’ and […]
Regulated firms have already taken steps to avoid new investment in the Russian economy. Many asset managers and pension providers have written down any Russian assets already held by the fund or scheme to zero, and some have announced that they are intending to divest themselves of such assets when it is practical to do […]
The UK, in partnership with our allies across the globe, has imposed an unprecedented package of economic sanctions on Russia and Belarus, in response to Russia’s invasion of Ukraine on 24 February. The UK financial regulatory authorities reiterate that all UK financial services firms, including the cryptoasset sector, are expected to play their part in […]
Since Amigo Loans’ last proposed Scheme of Arrangement was rejected by the High Court, the FCA has continued to engage with the firm and seek to get a better, fairer deal for Amigo’s customers due redress. Ahead of the convening hearing on 8 March of Amigo Loans’ proposed Scheme of Arrangement, we have written to […]
Russia’s invasion of Ukraine is having a significant impact on financial markets. Both the events themselves, and the wide range of financial sanctions imposed in response on Russia, Russian individuals and Russian business by numerous jurisdictions worldwide will have multiple impacts on companies with securities admitted to UK markets. During this period, issuers of securities […]
On 16 December, the FCA announced that it had 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. Finablr plc had the right to refer the matter to the Upper Tribunal. As Finablr plc has not referred the matter to the Upper […]
Following the Prime Minister’s statement to the House of Commons on 22 February 2022, the UK has announced a tranche of sanctions on Russia. The full details of the measures are available on the Foreign, Commonwealth & Development Office website. If you require a licence to permit any activity which would otherwise be prohibited by sanctions […]
