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CP22/20: FCA Consultation Paper on Sustainability Disclosure Requirements and Investment Labels
Posted: 24/01/2023
According to the Financial Conduct Authority (FCA), UK consumer confidence in ESG-related or sustainable investment products has been negatively impacted by investment firms’ propensity to make exaggerated, misleading or unsubstantiated sustainability-related claims about their products (whether intentionally or unintentionally)......>>
How to implement a Consumer Duty implementation plan
Posted: 20/12/2022
The burden on financial institutions to protect their consumers is rapidly and significantly expanding. More than ever, these businesses not only need to protect their customers from bad outcomes but also have a positive duty to have - and must be able to evidence - measures and procedures to promote good outcomes......>>
APP fraud: the PSR’s quest for mandatory reimbursement
Posted: 18/11/2022
Authorised Push Payment (APP) fraud involves a payer being deceived or defrauded into authorising a payment to a criminal posing as a genuine recipient. Since payments made using real-time payment schemes are irrevocable, in most cases the victims are unable to reverse a payment once they realise they have been duped......>>
Second judgment of the Upper Tribunal to emphasise the importance of cryptoasset businesses understanding and complying with their obligations to implement anti-money laundering (AML) measures
Posted: 22/09/2022
The Upper Tribunal has recently published its second judgment concerning the application of the Money Laundering Regulations (2017) (MLRs) to a cryptoasset exchange provider (the first being Gidiplus v FCA). The commentary of the Upper Tribunal in these cases sheds light on the factors that the Financial Conduct Authority (FCA)......>>
More digital asset litigation: Court of Appeal to analyse the potential duties of blockchain developers
Posted: 31/08/2022
The judgment of the English High Court in March 2022 in Tulip Trading Limited -v- Bitcoin Association for Bitcoin SV (BSV) & Others was a seminal decision in the arena of digital assets. The judgment of Mrs Justice Falk provided comfort to blockchain developers that they are not accountable to users of their software who are victims of a hack......>>

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Financial services regulatory alert - 8 April 2022
JP Morgan trader unfairly dismissed: how do employment tribunals align with FCA compliance considerations? Jones v JP Morgan Securities Plc (No.1) [2021] 6 WLUK 722. This case serves as a useful reminder that natural justice and an assessment of fitness and propriety go hand in hand in financial services firms and, if they do not, the penalties for a firm can be significant. JP Morgan was ordered to pay Mr Jones £1.5 million in lost earnings and to re-engage him in its Hong Kong office.

Financial services regulatory alert - 26 October 2021
Diversity and inclusion in financial services: the next chapter The drive for diversity across society at large is not new. Nor is criticism of financial services for its lack of representation and the disparities and inequalities among workforces within financial firms and institutions.

Financial services regulatory alert - 19 October 2021
The Financial Conduct Authority (FCA) has recently published details about remote or hybrid working expectations for firms so that they can continue to meet their regulatory responsibilities in light of the current and new ways of working. The expectations apply to existing firms, firms applying to be authorised or registered and firms proposing to submit further applications.

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