Reform – UK

Diving into the depths of dark pool pricing

Stacey McEvoy

Following on from the FCA’s Thematic Review on Dark Pools, the FCA published in September an Occasional Paper on “Asymmetries in Dark Pool Reference Prices”, concluding that the net amount of arbitrage from reference price latency (ie where the pricing offered in a dark pool is stale) is relatively small (economically speaking), but when it Read More

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The FCA is on a mission

Sarah Hitchins

The FCA is on a mission, and wants you to know about it. So much so that it has published a 50 page consultation paper on it. But what does the FCA’s mission actually mean in practice? Can we expect any changes? Below we highlight the key elements of the FCA’s proposed mission and their Read More

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FCA’s crowdfunding call for input: should crowdfunding be regulated differently from more traditional forms of financing?

Michael Gorrie

In July, the FCA called for input into its crowdfunding rules. The full call for input (Call for Input) can be found here.  The consultation is the first step in its post-implementation review of the FCA’s crowdfunding rules which came into force in 2014. In the Call for Input, the FCA highlights a number of Read More

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Further drop in number of market abuse cases concluded by the FCA

Sarah Hitchins

The latest figures show that the gap between the number of civil market abuse cases opened by the UK Financial Conduct Authority (the FCA) and the number of these cases that the FCA manages to conclude continues to grow. Although last summer the FCA promised us that it had a number of market abuse cases Read More

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General Counsel and Heads of Legal as UK Senior Managers: The debate rumbles on

Calum Burnett

Earlier this year, the UK Financial Conduct Authority (the FCA) announced that it was considering whether General Counsel and Heads of Legal should be designated as Senior Managers for the purposes of the new Senior Managers and Certification Regime. The FCA has now published a Discussion Paper on this topic, which sets out arguments for Read More

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