08/11 Financial services and regulation Legal Eye

An overview of recent developments

In this issue:

Financial services regulation

  • Calls for 12 month delay on Retail Distribution Review
  • ESMA consults on systems and controls for highly automated trading
  • Responses to consultation on reform of consumer credit regime published
  • Inquiry into accountability of the FCA
  • Guidance on claims handling published 

Recent FSA speeches and publications

  • ESMA publishes Consultation Paper on the AIFMD
  • FSA reports on risks posed by hedge funds
  • Client Assets Sourcebook Consultation Paper published
  • Capital Requirements Directive IV proposals published 

Enforcement

  • Willis Limited fined £6.895 million for anti-bribery and corruption failings
  • Fines for two former directors of Alpha to Omega (UK) Limited
  • Risks of unsuitable investment advice lead to prohibitions for directors
  • Specialist police force to combat insurance fraud established 

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