The segregated status letters have changed and now need to be of an exact format and in place by 01/12/2014. See PS14/9 Look at the CASS7 Annex 2 for the client Bank account acknowledgement template and CASS7 Annex 3 for the client transaction acknowledgement letter template. There is
Annex IV – Submissions are starting to be made on GABRIEL and, for most AIFMs, they will need to complete and submit the returns by 31st January 2015. Service providers will be overloaded as the deadline approaches, there are around 19,000 AIFs that need to be reported, so we wo
If you manage a fund that is not under the UCITS regime, you will almost certainly need to apply for a variation of permission under the AIFMD regime. The deadline of 22nd July 2014 is fast approaching. It is not too late, just yet, but you need to act fast to get the application in t
OK, just as soon as the last COREP reporting deadline passed yesterday, in a mad rush of submissions, GABRIEL has sent all IFPRU firms a reminder for the next submission. The second quarter, that ended yesterday, will now require the COREP reports by 11th August. So not that much tim
OK, so BNP got caught and have to pay a huge fine of $8.9 billion for ignoring sanctions. The statement that really concentrates the mind is the one from compliance which states: ‘the relationship with this body of counterparties is a historical one and the commercial stakes are
We are all familiar with the concept of peak oil but we may be in the era of peak compliance. Those of us who have been in compliance for at least seven years or so will remember the last big change to compliance, that of MiFID in November 2007. At the time it seemed a huge change wit
From the 1st October 2014 the current system for FCA approved persons, appointed representatives, cancellations, standing data and variations of permissions applications and notifications is changing. At the moment these are processed through the ONA (Online Notifications and Applicat
Recently an FCA prosecution of a ‘Very High Cost Case’ was given a stay or execution because of the lack of appropriate defence representation for the defendants, due to the cuts in the legal aid budget. This has now been over ruled by a Court of Appeal with Judge Treacy a
With one of the first prosecutions brought by the FCA being halted due to a legal aid cuts, the trials in the pipeline now look questionable. Barristers are refusing to take on the so called Very High Cost Cases because of the reductions in legal aid rates. Defendants are now finding
No one company can offer the best most cost effective solution to every compliance requirement so Pragmatic Compliance Consultants have researched the available resource in the marketplace and found different suppliers for each potential service offering.
We would be pleased to introduce you to our suggested professional provider.
The service is free to clients.
PCS is funded by small introductory fees from the service provider.
Pragmatic Compliance Solutions is a trading name of Trading Claims Limited | Company No. 04514855 | Website by Bulldog