4TEUS Solutions | March 2017

31Mar2017: News : FCA publishes its first policy statement on MiFID II implementation

The FCA has published its first policy statement (PS17/5) on MiFID II implementation. This sets out their near final rules in areas including: trading venues, transparency waivers and deferrals, algorithmic trading, position limits and reporting for commodity derivatives, systems and controls requirements for firms providing MiFID investment services and fees. Read further details here.

07Mar2017: News : FCA reflects after 1 year of SMCR and looks forward to 2018

It is now one year since the implementation of the Senior Managers and Certification Regime (SMCR), a range of policy changes introduced by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) to increase individual accountability within the banking sector. The FCA confirms that, during Q2 of 2017, it will be consulting widely with industry,

03Mar2017: News : Investment managers still failing to ensure effective oversight of best execution

The FCA declared their concern that most firms had failed to take on board the findings of the FCA’s thematic review (TR14/13). The rate at which client outcomes in best execution were improving was slow, with few firms having a cohesive strategy for improving client outcomes. It would appear that many firms had not conducted

03Mar2017: News : Firms fail to meet FCA expectations on their use of dealing commissions

The FCA announced that the majority of firms they visited were still falling short of their expectations. This included how firms: assessed whether a research good or service received is substantive; attributed a price or cost to substantive research if they receive it in return for dealing commission; and recorded their assessments to demonstrate they’re