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Related news & insights - Teja Picton-Howell

The FCA regulation of crypto businesses
Posted: 19/04/2023
At present, most cryptoassets are not regulated by the Financial Conduct Authority (FCA) - the UK’s main financial regulatory body - as they do not fall under the definition of a ‘specified investment’ in the Financial Services and Markets Act 2000 (FSMA). Security tokens, which have specific characteristics that provide certain rights and obligations......>>
Penningtons Manches Cooper advises New Era Music Company on acquisition of Defected Records
Posted: 03/10/2022
Penningtons Manches Cooper has advised New Era Music Company, a global record label and media company, on its completed acquisition of Defected Records Ltd and all of its group companies, through a new group holding company, Optimum Defected Holdings Limited......>>
Can a regulated foreign company directly take on an employee unregulated by the Financial Conduct Authority (FCA) to carry out financial promotion in the United Kingdom?
Posted: 03/11/2021
Here is a common situation that could apply to overseas companies seeking to recruit UK-based employees. Company A is an incorporated and resident venture capital company outside the UK. Company A intends to employ a person (X) in the UK to carry out the following activities as an employee of Company A......>>
Brexit and financial services: the Temporary Permissions Regime and Financial Services Contracts Regime
Posted: 12/03/2021
The UK left the EU on 31 January 2020 and entered into a ‘transition period’, during which EU law continued to apply directly in the UK. The transition period ended at 11pm on 31 December 2020 (referred to in section 39 of the European Union (Withdrawal Agreement) Act 2020 as ‘IP Completion Day’)……>>
Commerzbank fined for anti-money laundering failures
Posted: 18/06/2020
The Financial Conduct Authority (FCA) announced on 17 June 2020 that it has fined Commerzbank an enormous £37,805,400 - reduced from a potential £54,007,800 due to Commerzbank’s cooperation with the FCA’s investigation - for the bank’s anti-money laundering (AML) failures...…>>
FCA fines subsidiaries of Lloyds Banking Group Plc for unfair treatment of mortgage customers
Posted: 12/06/2020
Wholly owned subsidiaries of Lloyds Banking Group Plc, Lloyds Bank Plc, Bank of Scotland Plc and The Mortgage Business Plc have all found themselves in the FCA's firing line after its decision on 11 June 2020 to impose a financial penalty of £91,495,400, discounted to £64,046,800, for breach of the FCA Principles of Business...…>>

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