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Client money and assets: emerging issues
- Herbert Smith Freehills LLP
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- United Kingdom
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- March 31 2011
FSA fines for client money and asset failings continue to make the headlines
Prohibition on the use of general liens in custody agreements
- Herbert Smith Freehills LLP
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- United Kingdom
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- January 31 2011
Subject to certain exceptions, the use of general liens in custody agreements will be prohibited from 1 March 2011
Client Assets Unit - increased firm visits and enforcement actions
- Herbert Smith Freehills LLP
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- United Kingdom
- -
- January 31 2011
It is clear that the FSA regards client asset failings as an industry-wide problem and has established a specialist Client Assets Unit (Unit) to tackle these failings
Intra-group client money deposits
- Herbert Smith Freehills LLP
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- European Union, United Kingdom
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- January 31 2011
To prevent intra-group contagion (a situation painfully illustrated by the placement of 50 of Lehman Brothers International (Europe)'s client money with a group bank which became insolvent), firms will be subject to a 20 maximum limit on intra-group client money deposits in client bank accounts from 1 June 2011
CASS operational oversight controlled function (CF10a) and CMAR
- Herbert Smith Freehills LLP
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- United Kingdom
- -
- January 31 2011
All firms holding client money or assets must apportion responsibility for CASS operational oversight to an appropriate senior manager or director performing a significant influence function (SIF) within the firm
UK regulatory reform - responses to the government consultation on "a new approach to financial regulation
- Herbert Smith Freehills LLP
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- United Kingdom
- -
- November 26 2010
HM Treasury has published a summary of responses to its consultation on the reform of the UK financial services regulatory regime
An insight into the FSA's implementation of the new financial services regulatory structure and concerns
- Herbert Smith Freehills LLP
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- United Kingdom
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- October 15 2010
HM Treasury has very recently published a memorandum submitted by the FSA in response to its inquiry into the Government's proposals for reform of financial regulation
HM Treasury consults on sweeping reforms to UK regulatory architecture
- Herbert Smith Freehills LLP
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- United Kingdom
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- July 26 2010
Today, HM Treasury published its first paper seeking views on the Government's proposals for wholesale reform of the UK financial services regulatory architecture
Client assets and client money sit up and take notice
- Herbert Smith Freehills LLP
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- United Kingdom
- -
- July 8 2010
The collapse of Lehman Brothers highlighted various problems with the current UK regulatory regime for client asset protection
Acting in concert and deemed voting power: new FSA guidance
- Herbert Smith Freehills LLP
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- United Kingdom
- -
- June 3 2010
On 6 April 2010, the FSA published Draft Guidance setting out its views on when persons might be "acting in concert" or hold deemed voting power for the purposes of its controller regime (the "Draft Guidance"
Current Search
- Jurisdiction - United Kingdom
- Workarea - Capital Markets
- Workarea - Banking
- Author - Patrick Buckingham
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