All news by: Lorraine Bay

CASS rules - a changing world

As we come out of the haze that was the busy audit season, we look back to reflect on lessons learned from the cycle of December CASS audits. One point we have noted is that while firms have generally been preparing a document mapping all CASS rules to the control that mitigates the associated risk, firms have not been revisiting this document, where changes are noted to the CASS rules.

FCA introduces new governance requirements for authorised fund managers

In April, the FCA published Policy Statement 18/8 which introduces new requirements for UK authorised fund managers (‘AFM’) in respect of their management of authorised funds in a bid to “improve competition in the asset management industry.” The rule changes to be transposed into the Collective Investment Schemes sourcebook (COLL) will become effective from April 2019. 

Industry insight: improving the conduct of business of CFD firms

On 6 December 2016, the FCA published a Consultation Paper (CP16/40), which outlined concerns about the increasing evidence of poor conduct of firms providing CFD products to retail clients and the increased risks to investor protection. Many of the ideas raised by the FCA in this paper could have significant and wide-sweeping effect on the future size and shape of the CFD market and the way you do business.