10
DEC
2014

The Pragmatic guide to FCA Authorisation

  Our Infographic goes into the details of whether or not you need to be FCA Authorision. It’s always worth getting in-touch with a consultancy (us!) to double check you need to be FCA authorised.  
17
NOV
2014

37 days to Christmas but only 14 days to the new CASS client money segregation rules.

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
06
NOV
2014

Annex IV, Gabriel – FCA Deadline Approaching!

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
11
JUL
2014

AIFMD Deadline fast approaching

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
01
JUL
2014

Fireball XBRL5

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
01
JUL
2014

Fine for sanctions busting

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
30
JUN
2014
Peak Compliance FCA

Peak Compliance

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
23
JUN
2014

Just as you became used to FCA’s ONA…it’s all going to change

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
21
MAY
2014

FCA legal actions back on course

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
06
MAY
2014

Bar to Justice – FCA News

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