Corporate

Background The Treasury published The Money Laundering and Terrorist Financing (Amendment) Regulations 2019 (the “MLTF Regulations“) shortly before Christmas http://www.legislation.gov.uk/uksi/2019/1511/contents/made. These regulations implement the Fifth Money Laundering Directive (5MLD) into UK law. The form of the MLTF Regulations was consulted on  by the Treasury in April and will introduce a number of significant changes. As… Read more »

Corporate

Hot on the heels of its recent Dear CEO Letter addressed to asset managers generally the UK FInancial Conduct Authority (“FCA”) has written specifically to managers and advisors in the “Alternatives” sector identifying a number of concerns and explaining its supervision strartegy.

Corporate

On 20 January the FCA published a “Dear CEO” Letter for asset management businesses setting out their supervision strategy for the sector  (click here for a copy) Progress required Commenting that The asset management sector plays a critical role in the UK economy and in overseeing the savings and investments of millions of individuals across… Read more »

Banking & Finance

Since new new FCA rules on liquidity in open-ended funds came into force in Autumn 2019 there have been a number of further developments showing a continued focus by the UK regulators on liquidity risk in such funds.

Employment

The Employment Tribunal judgment in the case of Casamitiana v The League Against Cruel Sports has been published today and provides the reasoning behind its decision that ethical veganism can be a protected philosophical belief. For details of the case so far and information on the test to be applied when determining what constitutes a… Read more »

IP, Technology & Data

The Data Protection Act 2018 (DPA 2018) requires the Information Commissioner to produce a code of practice that provides practical advice on how to undertake direct marketing in a manner that complies with UK data protection and privacy law and also gives recommendations for best practice. On 8 January 2020, the Information Commissioner’s Office (ICO)… Read more »

Banking & Finance

The EBA has this month published  a ‘deep dive’ review on the use of big data and Advanced Analytics (“BD&AA”) in the banking sector. The aim of the EBA review is to share knowledge on the current use of BD&AA and to set out the key pillars and elements of trust that could accompany their use.

Banking & Finance

Almost everyone is now aware that urgent changes are required to deal with the climate issues affecting our planet. With declarations of a climate emergency from various governments, confirming what scientists and campaigners have been warning us all of for years, it is clear that large scale, global action is required. Whilst we all have… Read more »