Speaker: Therese Chambers, Director of Consumer Investments, FCA Event: TISA Financial Advice and Guidance Conference in London Delivered: 21 March 2023 Note: this is the speech as drafted and may differ from the delivered version Highlights The FCA wants to ensure we have a healthy and successful consumer investment sector in which firms can thrive...
Author: EMA Investments
FCA outlines where improvements are needed in ESG benchmarks
In September 2022, we sent a portfolio letter to benchmark administrators where we highlighted the risk of poor disclosures for ESG benchmarks. High-quality ESG benchmarks are important to support trust in the market for ESG products and the transition to a net zero economy. We have now completed a preliminary review of ESG benchmarks. This...
ESMA raises concerns with the proposed changes to the insider list regime
The European Securities and Markets Authority (ESMA) the EU’s financial markets regulator and supervisor, has sent a letter to the European Parliament and Council raising concerns with proposed changes to the insider list regime in the Markets Abuse Regulation. The proposed changes, which were put forward by the European Commission in December 2022 as part...
Statement in response to an announcement by FINMA
Earlier today, the Swiss authorities announced a wide range of actions to support financial stability. The FCA has been in contact with its Swiss counterparts and other UK regulatory authorities in advance of today’s announcements. The FCA has indicated that it is minded to approve the actions announced today in relation to the entities which...
ASIC cancels AFS licence of Capital Capital Pty Ltd
ASIC has canceled the Australian financial services (AFS) license of Capital Capital Pty Ltd (Capital Capital). The license authorized Capital Capital to deal in interests in managed investment schemes to wholesale clients. ASIC canceled the license on the basis that Capital Capital had failed to meet its financial reporting obligations. Capital Capital may apply to...
ASIC suspends AFS licence of Lendfin Private Pty Ltd
ASIC has suspended the Australian financial services (AFS) licence of Lendfin Private Pty Ltd (Lendfin) until 1 March 2024. The licence authorises Lendfin to deal in interests in managed investment schemes to wholesale clients and to provide general advice and deal in basic deposit products. The licence was suspended because Lendfin failed to maintain the...
Statement on Silicon Valley Bank
Following events at Silicon Valley Bank, the Financial Conduct Authority (FCA) has been working closely with the Bank of England, Prudential Regulation Authority (PRA), Financial Services Compensation Scheme (FSCS) and the UK Government. This morning, The Bank of England (Bank), in consultation with the Prudential Regulation Authority (PRA), HM Treasury (HMT) and the Financial Conduct...
Blackmore Bond PLC: correspondence regarding the acquisition of CGS Claims funding
We are aware of at least one Blackmore investor receiving a letter falsely claiming to be from Oak Fund Services (Guernsey) Limited (‘Oak’), stating that they have been successful in generating CGS Claims funding and asking consumers to contact them urgently. The letter asks consumers to call the following telephone number: 0162 150 2781 and...
FCA confirms help for mortgage borrowers struggling with payments
The FCA has confirmed final mortgage guidance, setting out the ways mortgage lenders can help customers worried about or already struggling with their mortgage payments because of the rising cost of living. The FCA has also published new data and analysis on the mortgage market. This shows that, in addition to the households already behind...
FCA authorises first Long Term Asset Fund
The Financial Conduct Authority (FCA) has authorized the first Long Term Asset Fund (LTAF). The LTAF is a new category of an open-ended authorized fund designed to invest efficiently in long-term assets. The FCA enabled the innovation by creating a new regulatory regime which came into force in 2021. Sarah Pritchard, Executive Director of Supervision, Policy...
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