FSA published on 2007-03-23 Perimeter Guidance relating to MiFID - PS07/5. The guidance will help firms judge whether they fall within the scope of MiFID and should reduce firms’ costs by cutting down on the need for them to obtain legal advice on scope issues. PS07/5 complements FSA’s work in individually assisting firms in understanding their […]
Archive for the 'FSA (UK)' Category
FSA (UK) publishes Perimeter Guidance relating to MiFID
Published by March 23rd, 2007 in www.nordicsecurities.org, United Kingdom (UK) and FSA (UK). 0 CommentsJoint UK industry response on Conduct of Business Regulation and Financial Promotion
Published by March 23rd, 2007 in www.nordicsecurities.org, United Kingdom (UK), FSA (UK), LIBA and MiFID Connect. 0 CommentsA joint UK industry response was submitted on 2007-02-23 to the FSA on CP 06/19 and CP06/20 regarding reforming Conduct of Business Regulation .
FSA(UK) publishes notifications according to A4 in L2 Directive
Published by February 1st, 2007 in www.nordicsecurities.org, United Kingdom (UK) and FSA (UK). 0 Comments31 January 2007. Article 4 of MiFID’s Level 2 implementing Directive limits the scope for Member States to apply additional requirements in certain of the areas covered by MiFID. It sets out the conditions for creating or retaining such national requirements that go beyond MiFID and requires that these be notified and justified to the […]
FSA (UK) publishes final Policy Statements and Handbook text regarding MiFID
Published by January 27th, 2007 in www.nordicsecurities.org, United Kingdom (UK) and FSA (UK). 0 Comments2007-01-26 FSA (UK) is publishing Policy Statements and accompanying Handbook text. PS07/2, Implementing the Markets in Financial Instruments Directive, provides feedback on the July and October consultation papers on Firms and Markets issues and the new conduct of business source book. PS07/3, Reforming the Approved Persons regime. Policy Statement on Section IV of CP06/15: Markets in […]
FSA (UK) publishes Policy Statement on Organisational systems and controls
Published by November 27th, 2006 in www.nordicsecurities.org, United Kingdom (UK) and FSA (UK). 0 CommentsThe FSA (UK) has published on 2006-11-24 a Policy Statement on ‘Organisational systems and controls – Common platform for firms’ which is a feed-back after the consultation on the paper CP06/09 published in May 2006.
The common platform sets out a single set of rules and guidance on systems and control measures for investment firms and credit institutions […]
FSA (UK) publishes paper on The Overall Impact of MiFID
Published by November 27th, 2006 in www.nordicsecurities.org, United Kingdom (UK) and FSA (UK). 0 CommentsThe FSA (UK) published on 2006-11-24 a paper on The Overall Impact of MiFID that sets out the FSA’s assessment of the overall costs and benefits for the financial services industry of implementing MiFID in the UK. The paper indicates that, under certain assumptions, MiFID could generate some £200 million per year in quantifiable ongoing benefits, […]
FSA (UK) publishes its General Counsel’s legal advice on best execution
Published by November 14th, 2006 in www.nordicsecurities.org, United Kingdom (UK) and FSA (UK). 0 CommentsThe FSA (UK) published 2006-11-03 its General Counsel’s Division’s legal advice regarding the scope of the best execution duty under MiFID. The advice was not prepared on the basis that it should be used or relied upon by persons other than the FSA (UK) and those reading it should if necessary take their own advice if they […]
FSA publishes radical proposals for move to principles-based regulation
Published by November 3rd, 2006 in www.nordicsecurities.org, United Kingdom (UK) and FSA (UK). 0 CommentsFSA publishes radical proposals for move to principles-based regulation that refers to MiFID. Details of the proposed NEWCOB (New Conduct of Business Rules of the FSA Handbook) are set out in CP06/19: ‘Reforming Conduct of Business Regulation’ with Annex and CP06/20: ‘Financial promotion and other communications’.
CP06/19, see above, also includes proposed amendments to other (non-COB) parts of […]
FSA (UK) publishes consultation paper on Best Execution and Conduct of Business Rules
Published by October 31st, 2006 in www.nordicsecurities.org, United Kingdom (UK) and FSA (UK). 0 CommentsFSA (UK) published on 2006-10-31 a consultation paper CP06/19 on Best execution and Conduct of Business Rules. The paper contains 350 pages. Responses are due on 2006-11-28.
In addition there is an Annex of 401 pages.
FSA (UK) Informal discussion paper Implementing Client Classification requirements
Published by October 10th, 2006 in www.nordicsecurities.org, Other countries, United Kingdom (UK) and FSA (UK). 0 CommentsFSA (UK) published in August 2006 an Informal discussion paper Implementing Client Classification requirements
FSA (UK) CP 06/14 Implementing MiFID for Firms and Markets
Published by October 10th, 2006 in www.nordicsecurities.org, Other countries, United Kingdom (UK) and FSA (UK). 0 CommentsFSA (UK) published in July 2006 a consultation paper CP 06/14 Implementing MiFID for Firms and Markets covering MiFID issues such as: Part I: Authorisation, Passporting and Enforcement, Part II: Client assets and prudential issues, Part III: Markets (RM,MTF and OTC). Responses are due 2006-10-31. LIBA and other trade associations in the UK are currently […]
FSA (UK) CP 06/9 Organisational systems and controls (SYSC)
Published by October 10th, 2006 in www.nordicsecurities.org, United Kingdom (UK), FSA (UK) and LIBA. 0 CommentsFSA (UK) published in May 2006 a consultation paper CP 06/9 Organisational systems and controls (SYSC) regarding a common platform for firms to comply with commensurate provisions in CRD (Capital Requirements Directive) and in MiFID. CP 06/9 covers MiFID issues such as Organisational Requirements, Employees, Agents, Compliance, Internal Audit, Risk Control, Outsourcing, Record Keeping and […]
FSA (UK) DP 06/3 Implementing MiFID’s best execution requirements
Published by October 6th, 2006 in www.nordicsecurities.org, United Kingdom (UK), FSA (UK) and LIBA. 0 CommentsFSA (UK) published in May 2006 a discussion paper DP 06/3 “Implementing MiFID’s best execution requirements”,
LIBA and other UK based trade associations responded, see Response to FSA DP 06/3 best execution
