FSR and Corporate Crime Notes
Tag: client money and assets
Showing 11 out of 11 results
Assessing and enhancing the legal and contractual aspects of CASS compliance
In the years since the Lehmann collapse there is no doubt that firms have been heavily focussed on CASS compliance, particularly on operational detail …
UK: FCA finalises rules to improve the protection of client money and custody assets
On 10 June, the FCA published PS14/9: Review of the client assets regime for investment business, providing feedback and made text on changes to the …
A new statutory cause of action against credit rating agencies – inconsistent messages from Europe
On 31 May 2013, new European legislation was passed to amend the Regulation on credit rating agencies which was first introduced in the aftermath of the …
UK: the FCA's thematic review of insurance claims processes
In a speech on the growth of UK insurance entitled "Meeting the growth challenge", Martin Wheatley, Chief Executive of the Financial …
UK: Interim report on independent review of the Investment Bank Special Administration Regime
Peter Bloxham has completed the first phase of his independent review of the Investment Bank Special Administration Regulations 2011 and in February 2013 …
UK: Financial Conduct Authority (FCA)'s Risk Outlook and Business Plan for 2013 published
The FCA's Risk Outlook (FCA RO) has been published today, setting out the regulator's current thinking on conduct in financial markets by …
FSA consults on overhauled client money rules for insurance intermediaries
The FSA has issued a consultation paper on significant changes to the Client Money Rules in CASS 5 which apply to insurance intermediaries. The proposed …
Special administration order under the Investment Bank Special Administration Regulations 2011: Worldspreads
In Re Worldspreads Limited [2012] EWHC 1263 (Ch), the High Court granted an urgent application for a special administration order under …
The Lehman client money judgment: Supreme Court upholds Court of Appeal decision
The Supreme Court handed down its judgment yesterday in relation to the client money application relating to Lehman Brothers International (Europe) …
Client Money and Assets: emerging issues
FSA fines for client money and asset failings continue to make the headlines. In the attached briefing, we look at the enforcement decision in relation …
Client money and assets - Round-up of recent developments
Confidence in the arrangements for protecting client assets was badly hit during the financial crisis, with the Lehman client money litigation …