Search results
275 results ordered by
Action required: mandatory disclosure of cross-border tax planning arrangements – effective (very) soon
New EU rules providing for mandatory disclosure of certain cross-border tax planning arrangements by intermediaries and taxpayers will enter into force on 25 June 2018. Although reports to tax authorities will not be required until July/August 2020, the retrospective nature of the new rules means that reportable arrangements implemented after 25 June could be reportable in this first batch of (2020) reports. Preparations for the new regime should therefore begin now.
Read moreESMA formally adopts new measures to restrict the sale of binary options and CFDs
On 1 June 2018, the European Securities and Markets Authority (ESMA) formally adopted new measures to prohibit the sale of binary options and to place restrictions on the provision of contracts for difference (CFDs) to retail investors. The measures will apply to binary options from 2 July 2018 and CFDs from 1 August 2018.
Read moreEFAMA publishes revised Stewardship Code
On 31 May 2018, the European Fund and Asset Management Association (EFAMA) published its Stewardship Code, setting out best practice principles for asset managers (the Code).
Read morePension watchdogs formalise information sharing
The Pensions Ombudsman and The Pensions Regulator have signed an information-sharing agreement in light of the recent rise in pension scams. The agreement will see the organisations share information about complaints and concerns with the aim of protecting scheme members.
Read moreSIPPs – the work and pensions committee asks some pointed questions of the FCA
The Work and Pensions Committee has sent a letter to the FCA following its review of defined benefit pension transfers raising 5 pointed questions in relation to SIPPs.
Read moreCrypto and Blockchain
In February, the House of Commons Treasury Committee announced an inquiry in to digital currencies. The inquiry covers the role of digital currencies in the UK and the potential impact of distributed ledger technology (blockchain) on financial institutions and financial infrastructure.
Read moreCybercrime and its impact on D&O insurance
Cybercrime has risen in recent years, perhaps more than anybody ever expected. For a long time, the focus was on defending businesses against such crimes. Now, with more people aware of cybercrime and the risks, insurers are becoming increasingly aware of the impact such crime may have on D&O policies.
Read moreFSCS – reviewing the funding of the fund of last resort
In its third consultation paper on this topic, the FCA has recently confirmed that: - FSCS claims in respect of investment advice will benefit from an increased compensation cap, from £50,000 to £85,000; - product providers will have to start making contributions to FSCS funding for insurance and investment advice claims; and - it proposes new rules to prevent personal investment firms' insurers excluding cover for claims where the firm or a third party becomes insolvent.
Read moreThe FCA publishes its 2018/19 Business Plan
On 9 April 2018 the FCA published its Business Plan for 2018/19, demonstrating its continued focus on culture and governance in firms, tackling financial crime and the role of technology in the financial services industry.
Read moreFCA success in the High Court: Compensation of £16.9m awarded to misled investors
A five-year court battle between the Financial Conduct Authority ("FCA") and Capital Alternatives Limited concluded on 26 March 2018 when the High Court used its restitution powers under the Financial Services and Markets Act 2000 to award compensation to investors who lost money invested with Capital Alternatives.
Read moreESMA cracks down on the sale of binary options and CFDs to retail investors
The European Securities and Markets Authority (ESMA) has announced its intention to prohibit the sale of binary options to retail investors and to place restrictions on the sale of contracts for difference (CFDs). This is the first use of ESMA's new intervention powers under MiFID II.
Read moreFCA reviews approach to enforcement and penalties
The FCA has announced plans in its recent consultation paper on enforcement to review how it applies penalties which have gone from record highs to record lows over the past 5 years.
Read moreChanges on the horizon - FCA consults on non-workplace pensions
The FCA has issued a discussion paper targeted at the non-workplace pension market. The paper marks the start of the FCA's work looking at whether there is harm in the non-workplace pension market and to better understand the potential presence, nature, extent and cause of any harm.
Read morePrivilege: A welcome respite from ENRC?
Are interviews held with employees to prepare a report intended to deter a governmental authority from taking legal action privileged?
Read moreESMA to use new powers to attack the sale of CFDs and binary bets to retail investors
ESMA has launched a public consultation on measures to protect retail investors investing in contracts for difference (CFDs) and binary bets. Potential changes include wide-ranging restrictions on the marketing and sale of CFDs, and a complete prohibition on the sale of binary bets to retail investors. An intervention would mark ESMA's first use of its new powers under MiFID II, which came into force on 3 January.
Read moreThe FCA pledges to take action against providers of contracts for difference
The FCA has concluded that consumers are at "serious risk of harm" due to the poor practices of some providers and distributors of CFDs. The regulator will take further action against at least one firm in its latest crack-down on these "complex, high-risk" products.
Read moreThoughts on the FCA's fund fee transparency proposals
Alternative investment funds may soon be required to report total cost of ownership in a standardised form. Work on new templates in ongoing, and fund managers need to be aware of the situation and to be involved in this important debate that has so far been largely overlooked.
Read moreInitial Coin Offerings – the digital financing process under global scrutiny
In an era of social media platforms and the like, the technological world creeps into its corporate counterpart of today. Initial Coin Offerings (ICOs) storm the corporate world by force, but what does the future hold for the new phenomenon?
Read moreFCA revisits FSCS funding proposals, and abandons plans for significant changes to professional indemnity insurance requirements
The FCA has published a second consultation paper on the thorny subject of FSCS funding. Although not widely reported so far, the new consultation makes it clear that the FCA will not, after all, consult on significant changes to personal investment firms' professional indemnity insurance requirements.
Read moreFCA allows confidential report to be scrutinised by Treasury Select Committee
The FCA has allowed the Treasury Select Committee to review its s.166 report into RBS' Global Restructuring Group (GRG) and has published an interim summary of the report. It is possible that the threat of publication will play on the minds of firms subject to s.166 reports, which may reduce cooperation with skilled persons and therefore the efficacy of this investigatory power.
Read moreThe FCA makes clear its expectations of financial advisers
FCA, regulatory, financial services
Read moreFCA criticised by Complaints Commissioner for its handling of enforcement limitation issues
The Office of the Complaints Commissioner recently upheld two complaints against the FCA for making a "serious mistake" in its management of limitation issues for two connected investigations. The Commissioner criticised the FCA not only for its mismanagement of the limitation issue, but also for the unnecessary delays in concluding its own internal investigation into these complaints.
Read moreDB Transfers - now what?
We know that the FCA is looking closely at defined benefit transfers; we already have the FCA's review of redress methodology and the defined benefit transfer rules. We now have the results of the FCA's review, into defined benefit transfers and it makes for uncomfortable reading for the financial services industry.
Read moreWeighty issues for diet app developers
2022 is set to be the year of the diet app. The distinction between what is a mere lifestyle app and what should in fact be a regulated medical product or service can be difficult to assess.
Read moreStay on top of Intellectual Property
Whether you’re just starting out or launching a new product, there are a wealth of intellectual property issues to consider in the world of distilling. Here, Ciara Cullen, Ben Mark and Sarah Mountain outline those do’s and don’ts, the changing landscape and how to thrive in 2021 and beyond.
Read moreTechnology in Insurance
On 16 June 2022 RPC hosted an afternoon of talks and panel sessions on the theme of 'Technology in Insurance', the culmination of the firm's TechWeek which brings market experts and lawyers together to discuss risks and opportunities with new technologies within different business sectors.
Read moreModel Articles deemed unsuitable for sole director companies
A recent decision of the High Court in Hashmi v Lorimer-Wing [2022] EWHC 191 (Ch) has suggested that the model articles for private companies are not suitable for companies with a sole director appointed.
Read moreA licence to kill... a licence
In the second of a number of short articles we are producing in relation to businesses in the tech space, we will be discussing a real life example of what not to do when diligencing a tech company and its third party IP licence agreements.
Read moreNew regulations to permit assignment of receivables under commercial contracts now in force
After more than four years of consultation, draft regulations and revisions, the Business Contract Terms (Assignment of Receivables) Regulations 2018 (the Regulations) have now taken effect, and apply to all relevant contracts entered into on or after 31 December 2018.
Read moreHuawei and UK National Security - A new technology cold war?
Chinese technology giant, Huawei, has been making plenty of headlines recently. First, a number of Western governments (including the US, Australia and New Zealand) have banned Huawei equipment from being used in 5G networks, citing national security concerns. Next, Huawei's CFO was arrested in Canada in connection with alleged breaches of international sanctions.
Read moreDigital Markets, Competition and Consumers Act becomes law
Following the announcement of a date for the general election, the Digital Markets, Competition and Consumers Act (DMCC) rapidly sped through the final stages of parliamentary processes to become law on 24 May 2024
Read moreCriminal Liability for Senior Managers under the Online Safety Act
Under the Online Safety Act (OSA), senior managers of in-scope services could be held personally liable in certain circumstances for the company's non-compliance with obligations within the legislation.
Read moreSilicon Valley, Signature and Credit Suisse: what do they all share(holder) in common?
In what has been termed "the biggest banking crisis since 2008", both Silicon Valley Bank (SVB) and Signature Bank have collapsed, and Credit Suisse has been rescued. Whether more banks are to follow suit is yet to be seen.
Read moreHong Kong's enhanced e-reporting system for internet fraud
On 19 September 2022, the Hong Kong Police Force announced its upgraded e-reporting system for internet crimes and frauds, which aims to improve the processing and analysing of cyber crimes.
Read moreEuropean Parliament formally adopts Digital Services Act
Following provision political agreement by the Council and the European Parliament in April 2022, on 5 July 2022 the European Parliament formally adopted the Digital Services Act (DSA). The DSA has yet to be adopted by the Council.
Read moreRPC Insurtech in brief - January 2022
Welcome to the January edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.
Read moreRPC Insurtech in brief - October 2021
Welcome to the October edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.
Read moreRPC Insurtech in brief - November 2021
Welcome to the November edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.
Read moreRPC Insurtech in brief - September 2021
Welcome to the September edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.
Read moreRPC Insurtech in brief - August 2021
Welcome to the August edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.
Read moreRPC Insurtech in brief - July 2021
Welcome to the July edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.
Read moreRPC Insurtech in brief - June 2021
Welcome to the June edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.
Read moreRPC Insurtech in brief - May 2021
Welcome to the May edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.
Read moreRPC Insurtech in brief April 2021
Welcome to the April edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.
Read moreRPC Insurtech in brief – March 2021
Welcome to the latest edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.
Read moreCommercial Court cracks down on crypto-fraudsters (if it can find them)
In the first initial coin offering 'ICO' fraud case before the Commercial Court, Ion Science Limited & Duncan Johns v Persons Unknown & Ors, the court granted permission to serve disclosure orders on two cryptocurrency exchanges through which the claimants' stolen bitcoin had been traced, granted a world-wide freezing order against persons unknown, and gave ground-breaking guidance on the lex situs of crypto-assets.
Read moreRPC Insurtech in brief – January 2021
Welcome to the latest edition from RPC Insurtech in brief providing you with a handful of snappy monthly updates from the industry.
Read moreRPC Insurtech in brief – December 2020
Welcome to the latest edition from RPC Insurtech in brief providing you with a handful of snappy monthly updates from the industry.
Read moreNew virtual insurer for Hong Kong
This month saw the award of a further virtual insurer licence in Hong Kong – this time for OneDegree (on 15 April 2020). The start-up will focus, initially, on the burgeoning Hong Kong pet insurance market, before a proposed expansion into health and cyber risk.
Read moreStay connected and subscribe to our latest insights and views
Subscribe Here