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03/07/2020
This page contains news of upcoming webinars and recordings of recent CMS webinars, available to view on demand. Webinars are a convenient way to stay informed and hear from our legal experts. Webinars available on demand 04.02.2020 Operational Resilience: What are your tolerances? with Angela Greenough, Ian Stevens and Cassandra ...
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03/07/2020
The FCA has today announced further proposals in the form of draft guidance (the Proposals) building upon the temporary financial relief already offered to users of motor finance and high cost credit products who continue to experience payment difficulties as a result of coronavirus, reported earlier this year. The Proposals ...
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02/07/2020
On 30 June 2020, the FCA published a research note on cryptoasset consumers which forms part of the FCA’s work alongside the Government and the Bank of England (“BoE”) to understand market size, consumer profiles and attitudes towards cryptoassets[1]. The three institutions had previously, in October 2018, published a joint ...
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02/07/2020
The deadline for solo-regulated firms to have undertaken the first assessment of the fitness and propriety of their Certified Persons has been extended from 9 December 2020 to 31 March 2021. To ensure consistency, the FCA is set to consult on the delay of further SM&CR requirements. Background On 30 ...
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24/06/2020
On 23 June 2020, the UK Government, HM Treasury and the FCA published a number of statements and papers on financial services, including in relation to the new prudential regime for investment firms, which is now expected to come into force in the UK by Summer 2021. The UK Parliament ...
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19/06/2020
The FCA has today announced further proposals in the form of draft guidance (the Proposals) building upon the temporary financial relief already offered to consumer credit customers impacted by coronavirus, reported earlier this year. The Proposals will be applicable to credit card, other revolving credit (such as store card and ...
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18/06/2020
On 17 June, the FCA published finalised guidance setting out the regulators’ expectations for insurers and insurance intermediaries when handling claims and complaints for business interruption (“BI”) policies during the test case. The guidance comes into immediate effect. The finalised guidance largely mirrors the draft version, which is discussed in ...
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18/06/2020
On 18 June 2020, the FCA released a new consultation paper CP20/8 on High-risk investments: Marketing speculative illiquid securities (including speculative mini-bonds) to retail investors (the “Consultation Paper”). In summary, the Consultation Paper proposes to: Extend the current ban on the marketing of speculative illiquid securities (“SISs”) (including speculative mini-bonds); ...
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11/06/2020
On 10 June the FCA updated the information on its webpage on the High Court test case in relation to business interruption (“BI”) insurance. Please refer to our previous article for background information. Key developments The FCA confirmed that proceedings have been started in the High Court. The result of ...
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10/06/2020
The FCA has confirmed the support available for mortgage customers who are experiencing payment difficulties due to the Covid-19 pandemic (the Guidance), which came into force on 4 June 2020. Alongside the Guidance, the FCA also published the feedback received from firms, trade bodies, consumer groups and individuals (the Feedback ...